Centogene N.V. (Nasdaq: CNTG) (“we” or the “Company”), the
essential life science partner for data-driven answers in rare and
neurodegenerative diseases, today announced financial results for
the fiscal year ended December 31, 2022, and provided a business
update.
“2022 reaffirms CENTOGENE’s focus and dedication to becoming the
essential data-driven partner in rare and neurodegenerative
diseases. With renewed focus on our Core Diagnostics and Pharma
segments and the exit of the COVID-19 business, we have continued
to deliver against our goals – recording double-digit revenue
growth compared to the prior year. We expanded the CENTOGENE
Biodatabank to over 750,000 patients – representing the world´s
largest real-world integrated multiomic data repository in rare and
neurodegenerative diseases to enable diagnostics, clinical
development, and access to life-saving treatments for patients and
partners around the world,” stated Kim Stratton, Chief Executive
Officer at CENTOGENE. “While we continue to navigate a volatile
market environment, we are proactively pursuing a number of
initiatives to extend our cash runway and continue improving our
cost structure. Looking ahead, we expect to see 2023 annual revenue
growth between 10% to 15%.”
Full Year
2022 Financial
Highlights
- Total revenues increased by 12% to
€47.5 million in FY2022, compared to €42.2 million in FY2021,
reflecting growth in both the Diagnostics and Pharma segments
- Diagnostics segment revenues
increased by 18% in 2022 to €31.4 million, primarily related to an
increase of 34% in revenues for CentoXome® (CENTOGENE’s proprietary
Whole Exome Sequencing) and CentoGenome® (CENTOGENE’s proprietary
Whole Genome Sequencing). Achieved upselling 25% of CentoXome® and
CentoGenome® orders to MOx (CENTOGENE’s portfolio of multiomic
testing solutions) in FY2022
- Pharma segment revenues returned to
growth after two years of decline, increasing by 3% year-over-year
to €16.1 million, primarily driven by progressing observational
studies for patient finding and market access in collaboration with
pharma partners to support clinical development stage projects in
rare and neurodegenerative disorders. Gross profit margins more
than doubled to 55% in FY2022 compared to 26% in FY2021
- The overall gross profit margin
improved by 10 percentage points to 42% of revenues or €19.8
million in FY2022, compared to a 32% gross profit margin in FY2021.
The gross profit margin was mainly driven by better margins in the
Pharma segment and solid margins in the Diagnostics segment due to
product mix of innovative, high-end products including CentoXome®,
CentoGenome®, and MOx
- The Company improved its net loss
position by 31% at €31.8 million in FY2022 compared to a net loss
of €46.2 million in FY2021. Net loss from continuing operations
showed an improvement of 33% at €38.7 million in FY2022 compared to
€57.4 million in FY2021. G&A costs decreased by 25%, or €10.9
million, in FY2022. Discontinued operations reflected the
contributions from the COVID-19 testing business, which was ceased
end of Q1 2022
- Total segment adjusted EBITDA showed a significant
improvement of 69% overall at €13.2 million in FY2022 compared
to €7.8 million in FY2021 from the Company’s Diagnostics and Pharma
segments, representing higher adjusted EBITDA contributions from
both business segments. Adjusted EBITDA from the Pharma segment
increased by 42% to €6.8 million in FY2022, compared to €4.8
million in FY2021, as a result of strong revenue growth and an
increase in gross margins. The Diagnostics segment recorded a
notable increase in adjusted EBITDA of 112% to €6.4 million in
FY2022, compared to €3.0 million in FY2021, primarily due to
revenue growth and improved collections of receivables
- Cash and cash equivalents were €36.0
million as of December 31, 2022, compared to €17.8 million for the
period ending December 31, 2021. There is uncertainty about the
Company's ability to continue as a going concern. Please refer to
the Company's FY2022 financial statements and related
disclosures
“We are very encouraged by the accelerating momentum and the
performance we delivered in 2022, particularly in continuing to
achieve strong segment adjusted EBITDA and optimizing operational
efficiency. We have made a lot of progress towards building a
sustainable business – simplifying and strengthening our
organization as well as optimizing our cost structure and cost
management. The results can be seen in significant improvements
across gross margins, which are up 10 percentage points, corporate
expenses being reduced, adjusted EBITDA improved, as well as the
Company’s bottom line. In 2023, we continue to prioritize cost
diligence as a key driver for profitability, while actively
exploring additional transaction options to extend our cash runway.
By strategically managing our expenses, we seek to enhance the
stability of our balance sheet and foster sustainable financial
performance,” added Miguel Coego, Chief Financial Officer at
CENTOGENE.
Recent Business Highlights
Corporate
- Expanded the CENTOGENE Biodatabank to over 750,000 patients,
over 70% of whom are of non- European descent, approximately 30,000
active physicians, and more than 70 million unique variants thanks
to the increasing number of CentoXome® and CentoGenome® analyses,
which contain significantly more variants than more targeted
diagnostic tests
- Appointed Chief Commercial Officer
& General Manager - Pharma, Ian Rentsch, and significantly
strengthened Pharma Business Development by more than doubling the
team size – underlining the Company’s strategic focus to better
serve existing partners and significantly increase collaborations
with new partners
- Strengthened Diagnostics Sales team
and expanded direct footprint distribution network in targeted
geographic areas, such as Canada, Colombia, Italy, Spain, and
Portugal
- Authored 62 peer-reviewed scientific
publications in FY2022, unlocking insights into Parkinson’s
disease, Gaucher disease, frontotemporal dementia, Fabry disease,
muscular dystrophy, Alport syndrome, mucopolysaccharidosis type VI,
Suleiman-El-Hattab syndrome, Galloway-Mowat syndrome, HIDEA
(hypotonia, hypoventilation, intellectual disability, dysautonomia,
epilepsy and eye abnormalities) syndrome, and Diets-Jongmans
syndrome, as well as a range of variants associated with epilepsy,
genetic cancers, metabolic disorders, developmental disorders, and
other rare and neurodegenerative diseases
- Closed $20 million second tranche of
secured loan from Oxford Finance in December 2022, upon achieving
trailing twelve-months revenue performance target
- Announced the appointment of Mary
Sheahan as Chair of the Audit Committee, as well as Ad Interim
Member of the Supervisory Board, which is to be confirmed at the
Company’s next General Meeting of Shareholders in June
Pharma
- Extended Takeda partnership to April
2024 to continue providing access to genetic testing for patients
with lysosomal storage disorders
- Entered strategic collaborations with
IQVIA and Premier Research to extend strategy and expand
commercialization model with pharma partners via Contract Research
Organizations (CROs)
- Extended, alongside Denali
Therapeutics, the ROPAD Study, the world’s largest observational
study on Parkinson’s disease genetics with approximately 15,000
enrolled patients to date. Patients enrolled in ROPAD and
identified with LRRK2 genetic variations may be eligible for
participation in ongoing interventional clinical studies. Denali,
in collaboration with Biogen Inc., is currently evaluating the
efficacy and safety of BIIB122 (DNL151), a small molecule LRRK2
inhibitor
- Extended and expanded, with support
from Alector, Inc., the observational EFRONT Study to advance the
genetic understanding of frontotemporal dementia
- Launched the CENTOGENE Biodata
Network, a portfolio of data-driven partnering solutions for
biopharma and research institutions, fueled by the CENTOGENE
Biodatabank and over 15 years of patient insights. These
customizable partnering solutions include Insight Reports, which
are tailored data analysis reports that seamlessly enable partners
to answer ad hoc research questions via real-world data. Biodata
Licenses are also available, which enable partners to securely
access CENTOGENE's multiomic, clinical, and sociodemographic
datasets via a Trusted Research Environment (TRE)
Diagnostics
- Strong order intake of approximately
70,000 test requests for FY2022, which represents a 23% increase
compared to approximately 57,000 in the prior year
- Launched CentoCloud®, one of the
world’s only CE-marked Software as a Service (SaaS) under the In
Vitro Diagnostics Directive (98/79/EC), as well as released
CENTOGENE’s FilterTool application, one of the first applications
to receive CE mark under the new In Vitro Diagnostic Regulation
(IVDR). Pairing CentoCloud® and the FilterTool accelerates genetic
data interpretation and helps labs and healthcare institutions
around the globe to access the leading CENTOGENE Biodatabank,
state-of-the-art certified dry labs, and automated bioinformatic
pipelines to fully support rare and neurodegenerative patients
- Launched NEW CentoGenome®, the
world's most comprehensive Whole Genome Sequencing tool for
diagnosis of rare and neurodegenerative diseases, which now detects
Copy Number Variations associated with spinal muscular atrophy, as
well as complex disease-causing variants associated with Gaucher
disease and susceptibility to GBA1-related Parkinson's disease
- Launched MOx – CENTOGENE’s portfolio
of single-step multiomic solutions that combines genomic and
biochemical testing to lead to a higher diagnostic yield by up to
25%
- Launched together with TWIST
Bioscience three Next Generation Sequencing target enrichment
panels, Twist Alliance CNTG Exome, Twist Alliance CNTG Rare Disease
Panel, and Twist Alliance CNTG Hereditary Oncology Panel, to
support rare disease and hereditary cancer research and support
diagnostics
- Utilizing Illumina’s new NovaSeq X
Sequencing System to further optimize throughput, scale, and cost
efficiencies
2023 Revenue
Guidance
The Company expects revenue growth to be between 10 to 15% in
FY2023 compared to FY2022.
About CENTOGENE
CENTOGENE’s mission is to provide data-driven, life-changing
answers to patients, physicians, and pharma companies for rare and
neurodegenerative diseases. We integrate multiomic technologies
with the CENTOGENE Biodatabank – providing dimensional analysis to
guide the next generation of precision medicine. Our unique
approach enables rapid and reliable diagnosis for patients,
supports a more precise physician understanding of disease states,
and accelerates and de-risks targeted pharma drug discovery,
development, and commercialization.
Since our founding in 2006, CENTOGENE has been offering rapid
and reliable diagnosis – building a network of approximately 30,000
active physicians. Our ISO, CAP, and CLIA certified multiomic
reference laboratories in Germany utilize Phenomic, Genomic,
Transcriptomic, Epigenomic, Proteomic, and Metabolomic datasets.
This data is captured in our CENTOGENE Biodatabank, with over
750,000 patients represented from over 120 highly diverse
countries, over 70% of whom are of non-European descent. To date,
the CENTOGENE Biodatabank has contributed to generating novel
insights for more than 275 peer- reviewed publications.
By translating our data and expertise into tangible insights, we
have supported over 50 collaborations with pharma partners.
Together, we accelerate and de-risk drug discovery, development,
and commercialization in target & drug screening, clinical
development, market access and expansion, as well as offering
CENTOGENE Biodata Licenses and Insight Reports to enable a world
healed of all rare and neurodegenerative diseases.
To discover more about our products, pipeline, and
patient-driven purpose, visit www.centogene.com and follow us
on LinkedIn.
Forward-Looking Statements
This press release contains “forward-looking statements” within
the meaning of the U.S. federal securities laws. Statements
contained herein that are not clearly historical in nature are
forward-looking, and the words “anticipate,” “believe,”
“continues,” “expect,” “estimate,” “intend,” “project,” and similar
expressions and future or conditional verbs such as “will,”
“would,” “should,” “could,” “might,” “can,” and “may,” are
generally intended to identify forward-looking statements. Such
forward-looking statements involve known and unknown risks,
uncertainties, and other important factors that may cause
CENTOGENE’s actual results, performance, or achievements to be
materially different from any future results, performance, or
achievements expressed or implied by the forward- looking
statements. Such risks and uncertainties include, among others,
negative economic and geopolitical conditions and instability and
volatility in the worldwide financial markets, possible changes in
current and proposed legislation, regulations and governmental
policies, pressures from increasing competition and consolidation
in our industry, the expense and uncertainty of regulatory
approval, including from the U.S. Food and Drug Administration, our
reliance on third parties and collaboration partners, including our
ability to manage growth, execute our business strategy and enter
into new client relationships, our dependency on the rare disease
industry, our ability to manage international expansion, our
reliance on key personnel, our reliance on intellectual property
protection, fluctuations of our operating results due to the effect
of exchange rates, our ability to streamline cash usage, our
continued ongoing compliance with covenants linked to financial
instruments, our requirement for additional financing and our
ability to continue as a going concern, or other factors. For
further information on the risks and uncertainties that could cause
actual results to differ from those expressed in these
forward-looking statements, as well as risks relating to
CENTOGENE’s business in general, see CENTOGENE’s risk factors set
forth in CENTOGENE’s Form 20-F filed on May 16, 2023, with the
Securities and Exchange Commission (the “SEC”) and subsequent
filings with the SEC. Any forward- looking statements contained in
this press release speak only as of the date hereof, and
CENTOGENE’s specifically disclaims any obligation to update any
forward-looking statement, whether as a result of new information,
future events, or otherwise.
Contact:
CENTOGENE
Ben LeggCorporate CommunicationsPress@centogene.com
Lennart StreibelInvestor RelationsIR@centogene.com
|
Centogene N.V. |
|
Consolidated statements of comprehensive loss for
the years ended December 31, 2022, 2021 and
2020 |
|
4(in EUR k) |
|
|
|
|
|
|
|
|
|
|
|
Note |
|
2022 |
|
2021* |
|
2020* |
|
|
|
|
|
|
Restated |
|
Restated |
Revenue |
|
7 |
|
47,473 |
|
|
42,234 |
|
|
38,453 |
|
Cost of sales |
|
|
|
27,712 |
|
|
28,735 |
|
|
35,286 |
|
Gross
profit |
|
|
|
19,761 |
|
|
13,499 |
|
|
3,167 |
|
Research and development
expenses |
|
|
|
17,488 |
|
|
19,297 |
|
|
14,935 |
|
General administrative
expenses |
|
|
|
32,587 |
|
|
43,480 |
|
|
37,665 |
|
Selling expenses |
|
|
|
9,924 |
|
|
9,326 |
|
|
7,580 |
|
Impairment of financial
assets |
|
22.2 |
|
— |
|
|
827 |
|
|
3,636 |
|
Gain on reversal of financial
asset impairment |
|
|
|
432 |
|
|
— |
|
|
— |
|
Other operating income |
|
8.1 |
|
3,774 |
|
|
2,894 |
|
|
2,392 |
|
Other operating expenses |
|
8.2 |
|
741 |
|
|
86 |
|
|
182 |
|
Operating
loss |
|
|
|
(36,773 |
) |
|
(56,623 |
) |
|
(58,439 |
) |
Changes in fair value of
warrants |
|
8.3 |
|
2,574 |
|
|
— |
|
|
— |
|
Interest and similar
income |
|
|
|
512 |
|
|
3 |
|
|
6 |
|
Interest and similar
expenses |
|
|
|
4,909 |
|
|
802 |
|
|
1,381 |
|
Financial costs, net |
|
8.3 |
|
(1,823 |
) |
|
(799 |
) |
|
(1,375 |
) |
Loss before taxes from
continuing operations |
|
|
|
(38,596 |
) |
|
(57,422 |
) |
|
(59,814 |
) |
Income taxes expenses |
|
10 |
|
107 |
|
|
(70 |
) |
|
224 |
|
Loss for the year from
continuing operations |
|
|
|
(38,703 |
) |
|
(57,352 |
) |
|
(60,038 |
) |
Net income from discontinued
operations, net of tax |
|
9 |
|
6,862 |
|
|
11,106 |
|
|
38,052 |
|
Loss for the
period |
|
|
|
(31,841 |
) |
|
(46,246 |
) |
|
(21,986 |
) |
Other comprehensive
income/(loss), all attributable to equity holders of the
parent |
|
|
|
(76 |
) |
|
543 |
|
|
(48 |
) |
Total comprehensive
loss |
|
|
|
(31,917 |
) |
|
(45,703 |
) |
|
(22,034 |
) |
Attributable to: |
|
|
|
|
|
— |
|
|
— |
|
Equity holders of the
parent |
|
|
|
(31,917 |
) |
|
(45,801 |
) |
|
(22,094 |
) |
Non‑controlling interests from
continuing operations |
|
24 |
|
— |
|
|
98 |
|
|
60 |
|
Non‑controlling interests from
discontinued operations |
|
|
|
— |
|
|
— |
|
|
— |
|
|
|
|
|
(31,917 |
) |
|
(45,703 |
) |
|
(22,034 |
) |
Net loss per share -
Basic and diluted from (in EUR) |
|
|
|
|
|
|
|
|
Continuing operations |
|
11 |
|
(1.45 |
) |
|
(2.53 |
) |
|
(2.87 |
) |
Loss attributable to
parent |
|
11 |
|
(1.19 |
) |
|
(2.04 |
) |
|
(1.05 |
) |
|
|
|
|
|
|
|
|
|
*The comparative numbers have been re-presented as a result of
the discontinued operations. Refer to Note 9 – Discontinued
Operations.
The accompanying notes form an integral part of
these consolidated financial statements
Centogene N.V. |
|
Consolidated statements of financial position as of
December 31, 2022 and 2021 |
|
(in EUR k) |
|
|
|
|
|
|
|
|
|
|
|
|
Assets |
|
Note |
|
Dec 31, 2022 |
|
Dec 31, 2021 |
|
Jan 1, 2021 |
|
|
|
|
|
|
Restated* |
|
Restated* |
Non‑current
assets |
|
|
|
|
|
|
|
|
|
|
|
Intangible assets |
|
12 |
|
7,400 |
|
|
9,194 |
|
|
12,407 |
|
Property, plant and equipment |
|
13 |
|
6,808 |
|
|
9,464 |
|
|
16,590 |
|
Right-of-use assets |
|
14 |
|
15,351 |
|
|
18,904 |
|
|
22,120 |
|
Derivatives assets |
|
22 |
|
510 |
|
|
— |
|
|
— |
|
Other assets |
|
16 |
|
2,911 |
|
|
2,972 |
|
|
1,967 |
|
|
|
|
|
32,980 |
|
|
40,534 |
|
|
53,084 |
|
Current
assets |
|
|
|
|
|
|
|
|
|
|
|
Inventories |
|
15 |
|
1,819 |
|
|
3,869 |
|
|
11,405 |
|
Trade receivables and contract assets |
|
16 |
|
16,548 |
|
|
23,462 |
|
|
28,988 |
|
Other assets |
|
16 |
|
5,514 |
|
|
5,453 |
|
|
8,286 |
|
Cash and cash equivalents |
|
17 |
|
35,951 |
|
|
17,818 |
|
|
48,156 |
|
|
|
|
|
59,832 |
|
|
50,602 |
|
|
96,835 |
|
|
|
|
|
92,812 |
|
|
91,136 |
|
|
149,919 |
|
|
|
|
|
|
|
|
|
|
Equity and liabilities |
|
Note |
|
Dec 31, 2022 |
|
Dec 31, 2021 |
|
Jan 1, 2021 |
|
|
|
|
|
|
|
|
|
Equity |
|
|
|
|
|
|
|
|
Issued capital |
|
18 |
|
3,307 |
|
|
2,708 |
|
|
2,654 |
|
Capital reserve |
|
18 |
|
145,369 |
|
|
133,897 |
|
|
125,916 |
|
Accumulated deficit and other reserves |
|
|
|
(141,265 |
) |
|
(109,540 |
) |
|
(63,739 |
) |
Non‑controlling interests |
|
|
|
— |
|
|
193 |
|
|
95 |
|
|
|
|
|
7,411 |
|
|
27,258 |
|
|
64,926 |
|
Non‑current
liabilities |
|
|
|
|
|
|
|
|
Non‑current loans |
|
20.1 |
|
40,051 |
|
|
— |
|
|
401 |
|
Lease liabilities |
|
20.1 |
|
13,125 |
|
|
15,394 |
|
|
17,677 |
|
Deferred tax liabilities |
|
|
|
35 |
|
|
79 |
|
|
207 |
|
Government grants |
|
20.2 |
|
6,687 |
|
|
8,028 |
|
|
8,950 |
|
Derivative liabilities |
|
22 |
|
376 |
|
|
— |
|
|
— |
|
Warrant liability |
|
22 |
|
260 |
|
|
— |
|
|
— |
|
Other liabilities |
|
20.2, 21 |
|
202 |
|
|
960 |
|
|
640 |
|
|
|
|
|
60,736 |
|
|
24,461 |
|
|
27,875 |
|
Current
liabilities |
|
|
|
|
|
|
|
|
Government grants |
|
20.2 |
|
1,263 |
|
|
1,368 |
|
|
1,342 |
|
Current loans |
|
20.1 |
|
4,635 |
|
|
3,815 |
|
|
2,492 |
|
Lease liabilities |
|
20.1 |
|
2,311 |
|
|
3,330 |
|
|
3,528 |
|
Liabilities from income taxes |
|
10 |
|
89 |
|
|
178 |
|
|
58 |
|
Trade payables |
|
20.2 |
|
6,317 |
|
|
11,252 |
|
|
31,736 |
|
Other liabilities |
|
20.2, 21 |
|
10,050 |
|
|
19,474 |
|
|
17,962 |
|
|
|
|
|
24,665 |
|
|
39,417 |
|
|
57,118 |
|
|
|
|
|
92,812 |
|
|
91,136 |
|
|
149,919 |
|
*Property, plant and equipment and lease liabilities as of
December 31, 2021, and Trade receivables and contract assets and
other liabilities as of December 31, 2021, and January 1, 2021,
have been restated. Refer to Note 2.4 – Restatement of selected
assets and liabilities in the consolidated statements of financial
position and selected income and expenses in the consolidated
statements of comprehensive loss.
The accompanying notes form an integral part of
these consolidated financial statements
Centogene N.V. |
|
Consolidated statements of cash flows for the years
ended December 31, 2022, 2021 and 2020 |
|
(in EUR k) |
|
|
|
|
|
|
|
|
|
|
|
Note |
|
2022 |
|
2021* (Restated) |
|
2020* (Restated) |
Operating
activities |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Loss before taxes from continuing operations |
|
|
|
(38,596 |
) |
|
(57,422 |
) |
|
(59,815 |
) |
Income before taxes from
discontinued operations |
|
9 |
|
6,875 |
|
|
11,152 |
|
|
38,110 |
|
Loss before taxes |
|
|
|
(31,721 |
) |
|
(46,270 |
) |
|
(21,705 |
) |
Adjustments to
reconcile earnings to cash flow from operating
activities |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Amortization (including impairments) and depreciation |
|
12,13,14 |
|
10,378 |
|
|
19,974 |
|
|
15,128 |
|
Inventory write-off |
|
|
|
— |
|
|
1,795 |
|
|
— |
|
Interest income |
|
8.3 |
|
— |
|
|
(3 |
) |
|
(6 |
) |
Interest expense |
|
8.3 |
|
4,909 |
|
|
851 |
|
|
1,400 |
|
Gain on the disposal of non‑current assets |
|
|
|
(754 |
) |
|
(18 |
) |
|
— |
|
Expected credit loss allowances on trade receivables and contract
assets |
|
2.4 |
|
— |
|
|
631 |
|
|
3,804 |
|
Share‑based payment expenses |
|
21 |
|
(16 |
) |
|
8,035 |
|
|
5,658 |
|
Tax expense |
|
|
|
(89 |
) |
|
— |
|
|
— |
|
Fair value adjustments of warrants |
|
8.3 |
|
(2,574 |
) |
|
— |
|
|
— |
|
Other non‑cash items |
|
|
|
(1,430 |
) |
|
(625 |
) |
|
(981 |
) |
Net foreign exchange differences |
|
|
|
963 |
|
|
— |
|
|
— |
|
|
|
|
|
|
|
|
|
|
Changes in operating
assets and liabilities: |
|
|
|
|
|
|
|
|
Inventories |
|
15 |
|
2,050 |
|
|
5,741 |
|
|
(9,596 |
) |
Trade receivables and contract assets |
|
16 |
|
6,914 |
|
|
4,855 |
|
|
(16,172 |
) |
Other assets |
|
16 |
|
— |
|
|
1,828 |
|
|
255 |
|
Trade payables |
|
20.2 |
|
(4,935 |
) |
|
(20,484 |
) |
|
23,996 |
|
Other liabilities |
|
28 |
|
(10,182 |
) |
|
1,952 |
|
|
6,681 |
|
|
|
|
|
|
|
|
|
|
Thereof cash flow (used in)
continuing operating activities |
|
28 |
|
(35,497 |
) |
|
(42,635 |
) |
|
(30,603 |
) |
Thereof cash flow from
discontinued operating activities |
|
|
|
9,009 |
|
|
20,897 |
|
|
39,065 |
|
Cash flow (used
in)/from operating activities |
|
|
|
(26,488 |
) |
|
(21,739 |
) |
|
8,462 |
|
|
|
|
|
|
|
|
|
|
Investing
activities |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash paid for investments in
intangible assets |
|
12 |
|
(1,727 |
) |
|
(2,787 |
) |
|
(6,657 |
) |
Cash paid for investments in
property, plant and equipment |
|
13 |
|
(367 |
) |
|
(2,915 |
) |
|
(9,890 |
) |
Grants received for investment
in property, plant and equipment |
|
20.2 |
|
506 |
|
|
168 |
|
|
390 |
|
Grants refunded related to
disposed property, plant and equipment |
|
20.2 |
|
— |
|
|
— |
|
|
— |
|
Cash received from disposals
of property, plant and equipment |
|
|
|
855 |
|
|
171 |
|
|
— |
|
Interest received |
|
|
|
— |
|
|
3 |
|
|
6 |
|
|
|
|
|
|
|
|
|
|
Thereof cash flow (used in)
continuing investing activities |
|
|
|
(1,553 |
) |
|
(2,494 |
) |
|
(5,366 |
) |
Thereof cash flow from/(used
in) discontinued investing activities |
|
|
|
820 |
|
|
(2,866 |
) |
|
(10,785 |
) |
Cash flow (used
in)/from investing activities |
|
|
|
(733 |
) |
|
(5,360 |
) |
|
(16,151 |
) |
|
|
|
|
|
|
|
|
|
Financing
activities |
|
|
|
|
|
|
|
|
Cash received from the
issuance of shares |
|
18 |
|
12,140 |
|
|
— |
|
|
22,430 |
|
Cash received from issuance of
warrants |
|
|
|
2,833 |
|
|
— |
|
|
— |
|
Cash paid for acquisition of
non-wholly owned subsidiary |
|
|
|
(1 |
) |
|
— |
|
|
(75 |
) |
Cash received from loans |
|
20, 22.2 |
|
40,568 |
|
|
1,772 |
|
|
438 |
|
Cash repayments of loans |
|
20, 22.2 |
|
— |
|
|
(464 |
) |
|
(2,760 |
) |
Cash repayments of lease
liabilities |
|
20, 22.2 |
|
(4,314 |
) |
|
(4,244 |
) |
|
(5,018 |
) |
Interest paid |
|
8.3 |
|
(4,909 |
) |
|
(267 |
) |
|
(173 |
) |
|
|
|
|
|
|
|
|
|
Thereof net cash flow
from/(used in) continuing financing activities |
|
|
|
46,798 |
|
|
(2,403 |
) |
|
13,561 |
|
Thereof net cash flow
from/(used in) discontinued financing activities |
|
|
|
(481 |
) |
|
(800 |
) |
|
1,281 |
|
Cash flow from
financing activities |
|
|
|
46,317 |
|
|
(3,203 |
) |
|
14,842 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Changes in cash and cash
equivalents |
|
|
|
19,096 |
|
|
(30,302 |
) |
|
7,153 |
|
Cash and cash equivalents at
the beginning of the period |
|
|
|
17,818 |
|
|
48,156 |
|
|
41,095 |
|
Effect of movements in
exchange rates on cash held |
|
|
|
(963 |
) |
|
(36 |
) |
|
(92 |
) |
Cash and cash equivalents at
the end of the period |
|
|
|
35,951 |
|
|
17,818 |
|
|
48,156 |
|
*The comparative numbers have been re-presented as a result of
the discontinued operations. Refer to Note 9- Discontinued
Operations.
The accompanying notes form an integral part of these
consolidated financial statements
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