Financial report

Three-year Financial History1

kEUR

2022

2021

2020

 

 

 

 

Income and expenses

 

 

 

Revenue

280,978

282,126

223,033

Custom Projects

140,044

167,006

101,872

Contract Manufacturing

110,753

89,600

100,108

Generics & Cosmetics

30,181

25,520

21,053

Total income

283,464

286,217

224,811

Cost of sales

-228,987

-182,426

-151,108

Total operating expenses

-41,870

-39,626

-29,325

o/w Depreciation and amortization

-26,063

-20,683

-17,545

Financial income

9

653

106

Financial expenses

-5,049

-4,970

-6,799

Income tax charges

200

-12,590

-6,350

Result for the year

7,767

47,258

31,335

 

 

 

 

Performance

 

 

 

Gross profit

54,477

103,791

73,703

Gross margin in % of revenue

19.4%

36.8%

33.0%

EBITDA

38,670

84,848

61,923

Adjusted 2 EBITDA

38,670

88,199

61,958

Adjusted 2 EBITDA in % of revenue

13.8%

31.3%

27.8%

Operating result (EBIT)

12,607

64,165

44,378

Operating result (EBIT) in % of revenue

4.5%

22.7%

19.9%

Earnings per share (EUR), basic 3

0.24

1.47

1.04

Proposed cash distribution per share (CHF)

0.00

0.30

0.00

Return on net operating assets (RONOA)

3.2%

21.0%

18.2%

 

 

 

 

Financial position

 

 

 

Total assets

575,782

595,038

375,975

Non-current assets

324,212

263,432

196,113

Current assets

251,570

331,606

179,862

Total equity and liabilities

575,782

595,038

375,975

Equity

421,677

421,173

177,660

Non-current liabilities

58,053

69,904

96,467

Curent liabiliities

96,052

103,961

101,848

 

 

 

 

Cash flows 4

 

 

 

Net cash flows from operating activities

5,460

57,352

49,482

Net cash flows from investing activities

-78,435

-80,845

-42,560

Net cash flows from financing activities

-26,869

130,928

-6,730

Cash and cash equivalents at the end of the year

37,528

136,303

17,208

 

 

 

 

Employees

 

 

 

Employees (# of FTEs, average)

1,139

1,041

910

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 2022: No adjustments made. 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.

3 The parent company of the Group changed during 2021. However, due to the predecessor accounting for this reorganization, basic earnings per share for 2020 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.

4 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.