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Segment information
6 Months Ended
Jun. 30, 2020
Segment information  
Segment information

5 Segment information

 

Three months ended June 30

 

 

 

 

 

 

 

 

 

 

in EUR k

 

Three months ended June 30, 2019

 

    

Pharmaceutical

    

Diagnostics

    

Corporate

    

Total

Total Revenues from contracts with external customers

 

4,568

 

6,638

 

 —

 

11,206

 

 

 

 

 

 

 

 

 

Adjusted EBITDA

 

3,217

 

530

 

(6,185)

 

(2,438)

 

 

 

 

 

 

 

 

 

Capital Expenditures

 

 

 

 

 

 

 

 

Additions to property, plant and equipment and right-of-use assets

 

172

 

227

 

 —

 

399

Additions to intangible assets

 

1,018

 

 —

 

985

 

2,003

 

 

 

 

 

 

 

 

 

Other segment information

 

 

 

 

 

 

 

 

Depreciation and amortization

 

257

 

561

 

635

 

1,453

Research and development expenses

 

 —

 

 —

 

2,407

 

2,407

 

 

 

 

 

 

 

 

 

 

in EUR k

 

Three months ended June 30, 2020

 

    

Pharmaceutical

    

Diagnostics

    

Corporate

    

Total

Total Revenues from contracts with external customers

 

3,940

 

5,779

 

 —

 

9,719

 

 

 

 

 

 

 

 

 

Adjusted EBITDA

 

1,799

 

(824)

 

(8,395)

 

(7,420)

 

 

 

 

 

 

 

 

 

Capital Expenditures

 

 

 

 

 

 

 

 

Additions to property, plant and equipment and right-of-use assets

 

301

 

2,073

 

1,249

 

3,623

Additions to intangible assets

 

1,852

 

 —

 

922

 

2,774

 

 

 

 

 

 

 

 

 

Other segment information

 

 

 

 

 

 

 

 

Depreciation and amortization

 

389

 

617

 

1,342

 

2,348

Research and development expenses

 

 —

 

 —

 

3,119

 

3,119

 

Six months ended June 30

 

 

 

 

 

 

 

 

 

 

 

 

Six months ended June 30, 2019

in EUR k

    

Pharmaceutical

    

Diagnostics

    

Corporate

    

Total

Total Revenues from contracts with external customers

 

8,698

 

13,223

 

 —

 

21,921

 

 

 

 

 

 

 

 

 

Adjusted EBITDA

 

6,161

 

541

 

(10,005)

 

(3,303)

 

 

 

 

 

 

 

 

 

Capital Expenditures

 

 

 

 

 

 

 

 

Additions to property, plant and equipment and right-of-use assets

 

179

 

247

 

414

 

840

Additions to intangible assets

 

1,786

 

 —

 

1,330

 

3,116

 

 

 

 

 

 

 

 

 

Other segment information

 

 

 

 

 

 

 

 

Depreciation and amortization

 

513

 

1,085

 

1,252

 

2,849

Research and development expenses

 

 —

 

 —

 

4,108

 

4,108

 

 

 

 

 

 

 

 

 

 

 

 

Six months ended June 30, 2020

in EUR k

    

Pharmaceutical

    

Diagnostics

    

Corporate

    

Total

Total Revenues from contracts with external customers

 

8,490

 

13,334

 

 —

 

21,824

 

 

 

 

 

 

 

 

 

Adjusted EBITDA

 

4,407

 

(737)

 

(16,107)

 

(12,437)

 

 

 

 

 

 

 

 

 

Capital Expenditures

 

 

 

 

 

 

 

 

Additions to property, plant and equipment and right-of-use assets

 

301

 

2,890

 

1,836

 

5,027

Additions to intangible assets

 

2,854

 

 —

 

1,111

 

3,965

 

 

 

 

 

 

 

 

 

Other segment information

 

 

 

 

 

 

 

 

Depreciation and amortization

 

1,071

 

1,161

 

2,200

 

4,432

Research and development expenses

 

 —

 

 —

 

5,810

 

5,810

 

Adjustments

Corporate expenses, depreciation and amortization, interest and similar income and expenses, as well as share-based payment expenses are not allocated to individual segments as the underlying instruments are managed on a group basis. Current taxes and deferred taxes are allocated to Corporate as they are also managed on a group basis.

Increases in corporate expenses for the three and six months ended June 30, 2020 are mainly due to our continued international growth and business expansion.  The increase is also due to the costs of operating as a public company, such as additional legal, accounting, corporate governance and investor relations expenses, and higher directors' and officers' insurance premiums. 

Corporate expenses for the three and six months ended June 30, 2020 included expenses related to the July 2020 Offering as described in note 1 of EUR 173k and EUR 173k, respectively, while corporate expenses for the three and six months ended June 30, 2019  included expenses incurred in relation to the IPO as described in note 1 of EUR 109k and EUR 318k, respectively  (included in General Administrative Expenses).  Corporate expenses for the three and six months ended June 30, 2019 also included real estate transfer tax of EUR 1,200k related to an intercompany sale of land and building.  No such expenses were incurred in the six months ended June 30, 2020 (see note 7).

Capital expenditure consists of additions of property, plant and equipment, right-of-use assets and intangible assets.  All of such assets are located in Germany, which is the country of the registered office of the Company, except for property, plant and equipment of EUR 368k  (December 31, 2019: EUR 286k) and right-of-use assets of EUR 876k  (December 31, 2019: EUR 1,042k), which is located in the United States.

Reconciliation of segment Adjusted EBITDA to Group loss for the period

 

 

 

 

 

 

For the three months ended June 30

    

2019

    

2020

Reported segment Adjusted EBITDA

 

3,747

 

975

Corporate expenses

 

(6,185)

 

(8,395)

 

 

(2,438)

 

(7,420)

Share-based payment expenses

 

(2,195)

 

(336)

Depreciation and amortization

 

(1,453)

 

(2,348)

Operating loss

 

(6,085)

 

(10,104)

Financial costs, net

 

(207)

 

(256)

Income taxes benefit

 

11

 

 —

Loss for the three months ended June 30

 

(6,281)

 

(10,360)

 

 

 

 

 

 

 

For the six months ended June 30

    

2019

    

2020

Reported segment Adjusted EBITDA

 

6,702

 

3,670

Corporate expenses

 

(10,005)

 

(16,107)

 

 

(3,303)

 

(12,437)

Share-based payment expenses

 

(4,828)

 

(1,393)

Depreciation and amortization

 

(2,849)

 

(4,432)

Operating loss

 

(10,980)

 

(18,262)

Financial costs, net

 

(419)

 

(705)

Income taxes expenses

 

(163)

 

(129)

Loss for the six months ended June 30

 

(11,562)

 

(19,096)