Contact:
|
Trinity Biotech plc
|
Lytham Partners LLC
|
|
Kevin Tansley
|
Joe Diaz, Joe Dorame & Robert Blum
|
|
(353)-1-2769800
|
602-889-9700
|
E-mail: kevin.tansley@trinitybiotech.com
|
2018
Quarter 3
|
2019
Quarter 3
|
Change
|
||||||||||
US$’000
|
US$’000
|
%
|
||||||||||
Point-of-Care
|
3,005
|
3,880
|
29.1
|
%
|
||||||||
Clinical Laboratory
|
20,707
|
20,714
|
(0.0
|
)%
|
||||||||
Total
|
23,712
|
24,594
|
3.7
|
%
|
|
$m |
|
||
Operating Profit
|
1.3
|
|||
Depreciation
|
0.8
|
|||
Amortisation
|
0.7
|
|||
Share Option Expense
|
0.3
|
|||
EBITDASO
|
3.1
|
(US$000’s except share data)
|
Three Months Ended
September 30,
2019
(unaudited)
|
Three Months Ended
September 30,
2018
(unaudited)
|
Nine Months
Ended
September 30,
2019
(unaudited)
|
Nine Months
Ended
September 30,
2018
(unaudited)
|
||||||||||||
Revenues
|
24,594
|
23,712
|
69,117
|
72,512
|
||||||||||||
Cost of sales
|
(14,523
|
)
|
(13,731
|
)
|
(40,270
|
)
|
(41,296
|
)
|
||||||||
Gross profit
|
10,071
|
9,981
|
28,847
|
31,216
|
||||||||||||
Gross margin %
|
41.0
|
%
|
42.1
|
%
|
41.7
|
%
|
43.0
|
%
|
||||||||
Other operating income
|
21
|
27
|
67
|
76
|
||||||||||||
Research & development expenses
|
(1,233
|
)
|
(1,292
|
)
|
(3,994
|
)
|
(3,983
|
)
|
||||||||
Selling, general and administrative expenses
|
(7,274
|
)
|
(7,113
|
)
|
(20,455
|
)
|
(21,412
|
)
|
||||||||
Indirect share based payments
|
(252
|
)
|
(367
|
)
|
(609
|
)
|
(1,130
|
)
|
||||||||
Operating profit
|
1,333
|
1,236
|
3,856
|
4,767
|
||||||||||||
Financial income
|
104
|
175
|
376
|
577
|
||||||||||||
Financial expenses
|
(1,226
|
)
|
(1,061
|
)
|
(3,703
|
)
|
(3,378
|
)
|
||||||||
Net financing expense
|
(1,122
|
)
|
(886
|
)
|
(3,327
|
)
|
(2,801
|
)
|
||||||||
Profit before tax & non-cash financial income / (expense)
|
211
|
350
|
529
|
1,966
|
||||||||||||
Income tax expense
|
(114
|
)
|
(76
|
)
|
(5,875
|
)
|
(366
|
)
|
||||||||
Profit/(Loss) for the period before non-cash financial income / (expense) | 97 |
274 |
(5,346
|
)
|
1,600
|
|||||||||||
Non-cash financial (expense)/income
|
(72
|
)
|
622
|
(245
|
)
|
268
|
||||||||||
Profit/(Loss) after tax and once-off items
|
25
|
896
|
(5,591
|
)
|
1,868
|
|||||||||||
Earnings per ADR (US cents)
|
0.1
|
4.3
|
(26.8
|
)
|
8.9
|
|||||||||||
Earnings per ADR excluding non-cash financial income/expense (US cents)
|
0.5
|
1.3
|
(25.6
|
)
|
7.6
|
|||||||||||
Diluted earnings per ADR (US cents)*
|
4.3
|
5.1
|
(9.2
|
)
|
18.9
|
|||||||||||
Weighted average no. of ADRs used in computing basic earnings per ADR
|
20,901,703
|
20,901,703
|
20,901,703
|
20,902,386
|
||||||||||||
Weighted average no. of ADRs used in computing diluted earnings per ADR
|
25,467,517
|
26,157,644
|
25,467,517
|
26,158,326
|
September 30,
2019
US$ ‘000
(unaudited)
|
June 30,
2019
US$ ‘000
(unaudited)
|
Mar 31,
2019
US$ ‘000
(unaudited)
|
Dec 31,
2018
US$ ‘000
(unaudited)
|
|||||||||||||
ASSETS
|
||||||||||||||||
Non-current assets
|
||||||||||||||||
Property, plant and equipment
|
26,306
|
26,293
|
26,586
|
5,362
|
||||||||||||
Goodwill and intangible assets
|
57,948
|
56,079
|
54,377
|
52,951
|
||||||||||||
Deferred tax assets
|
7,339
|
6,744
|
5,996
|
5,703
|
||||||||||||
Other assets
|
555
|
591
|
535
|
558
|
||||||||||||
Total non-current assets
|
92,148
|
89,707
|
87,494
|
64,574
|
||||||||||||
Current assets
|
||||||||||||||||
Inventories
|
29,960
|
31,487
|
30,942
|
30,359
|
||||||||||||
Trade and other receivables
|
24,811
|
24,333
|
23,568
|
24,441
|
||||||||||||
Income tax receivable
|
1,243
|
1,187
|
1,209
|
1,584
|
||||||||||||
Cash and cash equivalents
|
25,090
|
24,990
|
29,433
|
30,277
|
||||||||||||
Total current assets
|
81,104
|
81,997
|
85,152
|
86,661
|
||||||||||||
TOTAL ASSETS
|
173,252
|
171,704
|
172,646
|
151,235
|
||||||||||||
EQUITY AND LIABILITIES
|
||||||||||||||||
Equity attributable to the equity holders of the parent
|
||||||||||||||||
Share capital
|
1,213
|
1,213
|
1,213
|
1,213
|
||||||||||||
Share premium
|
16,187
|
16,187
|
16,187
|
16,187
|
||||||||||||
Accumulated surplus
|
50,462
|
50,151
|
55,341
|
55,342
|
||||||||||||
Other reserves
|
(28,930
|
)
|
(28,479
|
)
|
(28,573
|
)
|
(28,688
|
)
|
||||||||
Total equity
|
38,932
|
39,072
|
44,168
|
44,054
|
||||||||||||
Current liabilities
|
||||||||||||||||
Income tax payable
|
5,717
|
5,885
|
125
|
210
|
||||||||||||
Trade and other payables
|
20,135
|
18,472
|
19,639
|
17,344
|
||||||||||||
Provisions
|
50
|
50
|
50
|
50
|
||||||||||||
Total current liabilities
|
25,902
|
24,407
|
19,814
|
17,604
|
||||||||||||
Non-current liabilities
|
||||||||||||||||
Exchangeable senior note payable
|
81,865
|
81,793
|
81,942
|
81,620
|
||||||||||||
Other payables
|
17,803
|
18,351
|
18,994
|
526
|
||||||||||||
Deferred tax liabilities
|
8,750
|
8,081
|
7,728
|
7,431
|
||||||||||||
Total non-current liabilities
|
108,418
|
108,225
|
108,664
|
89,577
|
||||||||||||
TOTAL LIABILITIES
|
134,320
|
132,632
|
128,478
|
107,181
|
||||||||||||
TOTAL EQUITY AND LIABILITIES
|
173,252
|
171,704
|
172,646
|
151,235
|
(US$000’s)
|
Three Months
Ended
September 30,
2019
(unaudited)
|
Three Months
Ended
September 30,
2018
(unaudited)
|
Nine Months
Ended
September 30,
2019
(unaudited)
|
Nine Months
Ended
September 30,
2018
(unaudited)
|
||||||||||||
Cash and cash equivalents at beginning of period
|
24,990
|
49,426
|
30,277
|
57,607
|
||||||||||||
Operating cash flows before changes in working capital
|
3,184
|
3,445
|
9,495
|
9,907
|
||||||||||||
Changes in working capital
|
1,631
|
(512
|
)
|
(475
|
)
|
(4,656
|
)
|
|||||||||
Cash generated from operations
|
4,815
|
2,933
|
9,020
|
5,251
|
||||||||||||
Net Interest and Income taxes (paid)/received
|
(181
|
)
|
(125
|
)
|
34
|
49
|
||||||||||
Capital Expenditure & Financing (net)
|
(3,776
|
)
|
(4,308
|
)
|
(9,970
|
)
|
(12,247
|
)
|
||||||||
Payments for leases (IFRS 16)
|
(758
|
)
|
-
|
(2,273
|
)
|
-
|
||||||||||
Free cash flow
|
100
|
(1,500
|
)
|
(3,189
|
)
|
(6,947
|
)
|
|||||||||
Share buyback
|
-
|
-
|
-
|
(434
|
)
|
|||||||||||
30 year Exchangeable Note interest payment
|
-
|
(205
|
)
|
(1,998
|
)
|
(2,505
|
)
|
|||||||||
Purchase of Exchangeable Notes
|
-
|
(12,042
|
)
|
-
|
(12,042
|
)
|
||||||||||
Cash and cash equivalents at end of period
|
25,090
|
35,679
|
25,090
|
35,679
|
TRINITY BIOTECH PLC
|
|||
(Registrant) | |||
|
By:
|
/s/ Kevin Tansley |
|
Kevin Tansley
|
|||
Chief Financial Officer
|
|||
Date: 16 October 2019
|