Financial report

Three-year Financial History1

kEUR

2021

2020

2019

 

 

 

 

Income and expenses

 

 

 

Revenue

282,126

223,033

202,613

Custom Projects

167,006

101,872

84,288

Contract Manufacturing

89,600

100,108

99,505

Generics & Cosmetics

25,520

21,053

18,820

Total income

286,217

224,811

203,768

Cost of sales

-182,426

-151,108

-144,323

Total operating expenses

-39,626

-29,325

-25,896

o/w Depreciation and amortization

-20,683

-17,545

-15,808

Financial income

653

106

70

Financial expenses

-4,970

-6,799

-3,386

Income tax charges

-12,590

-6,350

-4,496

Result for the year

47,258

31,335

25,737

 

 

 

 

Performance

 

 

 

Gross profit

103,791

73,703

59,445

Gross margin in % of revenue

36.8%

33.0%

29.3%

EBITDA

84,848

61,923

49,357

Adjusted 2 EBITDA

88,199

61,958

51,057

Adjusted 2 EBITDA in % of revenue

31.3%

27.8%

25.2%

Operating result (EBIT)

64,165

44,378

33,549

Operating result (EBIT) in % of revenue

22.7%

19.9%

16.6%

Earnings per share (EUR), basic 3

1.47

1.04

0.86

Proposed cash distribution per share (CHF) 4

0.30

0.00

0.00

Return on net operating assets (RONOA)

21.0%

18.2%

15.3%

 

 

 

 

Financial position

 

 

 

Total assets

595,038

375,975

305,142

Non-current assets

263,432

196,113

162,473

Current assets

331,606

179,862

142,669

Total equity and liabilities

595,038

375,975

305,142

Equity

421,173

177,660

149,416

Non-current liabilities

69,904

96,467

97,789

Curent liabiliities

103,961

101,848

57,937

 

 

 

 

Cash flows 5

 

 

 

Net cash flows from operating activities

57,352

49,482

55,600

Net cash flows from investing activities

-80,845

-42,560

-12,261

Net cash flows from financing activities

130,928

-6,730

-35,937

Cash and cash equivalents at the end of the year

136,303

17,208

17,508

 

 

 

 

Employees

 

 

 

Employees (# of FTEs, average)

1,041

910

839

1 This table includes references to operational indicators, such as customer projects, and alternative financial performance measures (APM) that are not defined or specified by IFRS. These APM should be regarded as complementary information to and not as substitutes of the Group’s consolidated financial results based on IFRS. For the definitions of the main operational indicators and APM used, including related abbreviations, as well as for selected reconciliations to IFRS, please refer to the section “Definitions and reconciliations” of this report.

2 2021: Adjusted for one-off IPO costs and US government loans waived in the context of the coronavirus pandemic. 2020: Adjusted for equipment damage provision and costs related to the IPO. 2019: Adjusted for equipment damage provision.

3 As described in the first section of the notes to the consolidated financial statements, the parent company of the Group changed during 2021. However, due to the predecessor accounting for this reorganization, basic earnings per share for 2020 and 2019 has been calculated based on the total number of outstanding shares of 30,000,001, corresponding to the share capital of PolyPeptide Group AG prior to the capital increase of 3,125,000 shares, cf. the description in note 7 to the consolidated financial statements.

4 Cash distribution 2021 proposed to the AGM on 26 April, 2022.

5 Changes to the presentation of cash flows were made in the Annual Report 2021 and in the Annual Report 2020. The cash flows for 2021 and 2020 in the table above are based on the consolidated cash flow statement in the Annual Report 2021. The cash flows for 2019 in the table above are based on the consolidated cash flow statement in the Annual Report 2020.