Contact:
|
Trinity Biotech plc
|
Lytham Partners, LLC
|
John Gillard
|
Joe Diaz
|
|
(353)-1-2769800
|
(1)-602-889-9700
|
|
|
E-mail: investorrelations@trinitybiotech.com
|
2020
Quarter 3
|
2021
Quarter 3
|
Increase/ (decrease)
|
||||||||||
US$’000
|
US$’000
|
%
|
||||||||||
Point-of-Care
|
2,065
|
4,113
|
99.2
|
%
|
||||||||
Clinical Laboratory
|
29,949
|
17,891
|
(40.3
|
)%
|
||||||||
Total
|
32,014
|
22,004
|
(31.3
|
)%
|
$m
|
|
Operating Profit
|
2.8
|
Depreciation
|
0.6
|
Amortisation
|
0.2
|
Adjusted EBITDA
|
3.6
|
Share Option Expense
|
0.3
|
Adjusted EBITDASO
|
3.9
|
US Toll Free:
|
1-844-861-5499
|
||
International Toll:
|
1-412-317-6581
|
||
Ireland Toll:
|
014311269
|
||
Ireland Toll Free:
|
1800932830
|
US Toll Free:
|
1-877-344-7529
|
||
International Toll:
|
1-412-317-0088
|
||
Replay Code:
|
10159977
|
(US$000’s except share data)
|
Three Months Ended
September 30,
2021
(unaudited)
|
Three Months Ended
September 30,
2020
(unaudited)
|
Nine Months
Ended
September 30,
2021
(unaudited)
|
Nine Months
Ended
September 30,
2020
(unaudited)
|
||||||||||||
Revenues
|
22,004
|
32,014
|
73,441
|
69,215
|
||||||||||||
Cost of sales
|
(13,104
|
)
|
(15,238
|
)
|
(42,601
|
)
|
(36,292
|
)
|
||||||||
Gross profit
|
8,900
|
16,776
|
30,840
|
32,923
|
||||||||||||
Gross margin %
|
40.4
|
%
|
52.4
|
%
|
42.0
|
%
|
47.6
|
%
|
||||||||
Other operating income
|
1,043
|
3
|
3,950
|
20
|
||||||||||||
Research & development expenses
|
(1,063
|
)
|
(1,265
|
)
|
(3,556
|
)
|
(3,796
|
)
|
||||||||
Selling, general and administrative expenses
|
(5,880
|
)
|
(6,273
|
)
|
(18,180
|
)
|
(17,364
|
)
|
||||||||
Indirect share based payments
|
(252
|
)
|
(156
|
)
|
(942
|
)
|
(504
|
)
|
||||||||
Operating profit
|
2,748
|
9,085
|
12,112
|
11,279
|
||||||||||||
Financial income
|
1
|
3
|
3
|
37
|
||||||||||||
Financial expenses
|
(1,199
|
)
|
(1,215
|
)
|
(3,611
|
)
|
(3,668
|
)
|
||||||||
Net financing expense
|
(1,198
|
)
|
(1,212
|
)
|
(3,608
|
)
|
(3,631
|
)
|
||||||||
Profit before tax , impairment, once-off & non-cash items
|
1,550
|
7,873
|
8,504
|
7,648
|
||||||||||||
Income tax expense
|
(260
|
)
|
(387
|
)
|
(1,020
|
)
|
(549
|
)
|
||||||||
Profit after tax before impairment, once-off & non-cash items
|
1,290
|
7,486
|
7,484
|
7,099
|
||||||||||||
Non-cash financial income/(expense)*
|
31
|
(161
|
)
|
724
|
(1,038
|
)
|
||||||||||
Impairment & once-off items
|
-
|
-
|
(6,068
|
)
|
(2,425
|
)
|
||||||||||
Profit after tax
|
1,321
|
7,325
|
2,140
|
3,636
|
||||||||||||
Earnings per ADS (US cents)
|
6.3
|
35.0
|
10.2
|
17.4
|
||||||||||||
Earnings per ADS (US cents)***
|
6.2
|
35.8
|
35.8
|
34.0
|
||||||||||||
Diluted earnings per ADS (US cents)**
|
8.7
|
32.2
|
39.1
|
39.0
|
||||||||||||
Weighted average no. of ADSs used in computing basic earnings per ADS
|
20,901,703
|
20,901,703
|
20,901,703
|
20,901,703
|
||||||||||||
Weighted average no. of ADSs used in computing diluted earnings per ADS
|
26,397,791
|
26,321,307
|
26,828,139
|
25,894,218
|
September 30,
2021
US$ ‘000
(unaudited)
|
June 30,
2021
US$ ‘000
(unaudited)
|
Mar 31,
2021
US$ ‘000
(unaudited)
|
Dec 31,
2020
US$ ‘000
(unaudited)
|
|||||||||||||
ASSETS
|
||||||||||||||||
Non-current assets
|
||||||||||||||||
Property, plant and equipment
|
6,258
|
6,501
|
8,648
|
8,547
|
||||||||||||
Goodwill and intangible assets
|
34,319
|
32,864
|
35,200
|
33,860
|
||||||||||||
Deferred tax assets
|
3,711
|
3,617
|
4,205
|
4,185
|
||||||||||||
Other assets
|
244
|
279
|
315
|
355
|
||||||||||||
Total non-current assets
|
44,532
|
43,261
|
48,368
|
46,947
|
||||||||||||
Current assets
|
||||||||||||||||
Inventories
|
32,116
|
34,705
|
37,582
|
30,219
|
||||||||||||
Trade and other receivables
|
16,816
|
15,358
|
14,864
|
22,668
|
||||||||||||
Income tax receivable
|
1,840
|
2,782
|
2,888
|
3,086
|
||||||||||||
Cash, cash equivalents and deposits
|
27,475
|
28,618
|
32,277
|
27,327
|
||||||||||||
Total current assets
|
78,247
|
81,463
|
87,611
|
83,300
|
||||||||||||
TOTAL ASSETS
|
122,779
|
124,724
|
135,979
|
130,247
|
||||||||||||
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
|
||||||||||||
Treasury shares
|
(24,922
|
)
|
(24,922
|
)
|
(24,922
|
)
|
(24,922
|
)
|
||||||||
Accumulated surplus
|
13,685
|
12,093
|
12,561
|
10,573
|
||||||||||||
Translation reserve
|
(5,376
|
)
|
(5,090
|
)
|
(5,189
|
)
|
(5,293
|
)
|
||||||||
Other reserves
|
23
|
23
|
23
|
23
|
||||||||||||
Total equity/(deficit)
|
810
|
(496
|
)
|
(127
|
)
|
(2,219
|
)
|
|||||||||
Current liabilities
|
||||||||||||||||
Income tax payable
|
1,018
|
751
|
389
|
154
|
||||||||||||
Trade and other payables
|
18,324
|
21,304
|
30,881
|
26,488
|
||||||||||||
Exchangeable senior note payable¹
|
83,159
|
83,190
|
-
|
-
|
||||||||||||
Provisions
|
376
|
376
|
376
|
416
|
||||||||||||
Total current liabilities
|
102,877
|
105,621
|
31,646
|
27,058
|
||||||||||||
Non-current liabilities
|
||||||||||||||||
Exchangeable senior note payable¹
|
-
|
-
|
84,045
|
83,884
|
||||||||||||
Other payables
|
14,555
|
15,283
|
15,625
|
16,619
|
||||||||||||
Deferred tax liabilities
|
4,537
|
4,316
|
4,790
|
4,905
|
||||||||||||
Total non-current liabilities
|
19,092
|
19,599
|
104,460
|
105,408
|
||||||||||||
TOTAL LIABILITIES
|
121,969
|
125,220
|
136,106
|
132,466
|
||||||||||||
TOTAL EQUITY AND LIABILITIES
|
122,779
|
124,724
|
135,979
|
130,247
|
(US$000’s)
|
Three Months Ended
September 30,
2021
(unaudited)
|
Three Months Ended
September 30,
2020
(unaudited)
|
Nine Months
Ended
September 30,
2021
(unaudited)
|
Nine Months
Ended
September 30,
2020
(unaudited)
|
||||||||||||
Cash and cash equivalents at beginning of period
|
28,618
|
15,570
|
27,327
|
16,400
|
||||||||||||
Operating cash flows before changes in working capital
|
2,226
|
9,722
|
10,750
|
13,501
|
||||||||||||
Changes in working capital
|
(1,777
|
)
|
(2,551
|
)
|
(3,103
|
)
|
(2,476
|
)
|
||||||||
Cash generated from operations
|
449
|
7,171
|
7,647
|
11,025
|
||||||||||||
Net Interest and Income taxes (paid)/received
|
1,092
|
(141
|
)
|
1,190
|
256
|
|||||||||||
Capital Expenditure & Financing (net)
|
(1,984
|
)
|
(1,900
|
)
|
(6,334
|
)
|
(6,820
|
)
|
||||||||
Payments for Leases (IFRS 16)
|
(700
|
)
|
(790
|
)
|
(2,121
|
)
|
(2,361
|
)
|
||||||||
Free cash flow
|
(1,143
|
)
|
4,340
|
382
|
2,100
|
|||||||||||
Payment of HIV/2 License Fee
|
-
|
-
|
-
|
(1,112
|
)
|
|||||||||||
30 year Exchangeable Note interest payment
|
-
|
-
|
(1,998
|
)
|
(1,998
|
)
|
||||||||||
Proceeds received under Paycheck Protection Program
|
-
|
-
|
1,764
|
4,520
|
||||||||||||
Cash and cash equivalents at end of period
|
27,475
|
19,910
|
27,475
|
19,910
|