Reconciliations

Operating result to EBITDA and Adjusted EBITDA

kEUR

H1 2022

H1 2021

H1 2020

 

 

 

 

Operating result

15,482

30,803

10,160

Depreciation, amortization and impairment charges (if any)

11,224

9,086

8,359

EBITDA

26,706

39,889

18,519

 

 

 

 

Government loans waived

0

-2,370

0

IPO consultancy services

0

1,381

0

IPO cash bonus

0

1,342

0

IPO share bonus

0

2,998

0

Adjusted EBITDA

26,706

43,240

18,519

Return on net operating assets (RONOA)1

kEUR

H1 2022

H1 2021

H1 2020

 

 

 

 

Last twelve months Operating result (EBIT)

48,844

65,021

28,483

Average 1 Net operating assets:

 

 

 

Total non-current assets (average)

254,607

188,895

153,546

Total current assets (average)

320,994

254,024

143,315

Cash and cash equivalents (average)

-126,899

-98,045

-8,268

Total current liabilities (average)

-106,084

-90,965

-54,661

Average 1 Net operating assets

342,618

253,909

233,932

Return on net operating assets (RONOA)

14.3%

25.6%

12.2%

1 The average amounts are calculated as: (Current period's figures + prior period's figures) / 2.

Free Cash Flow

kEUR

H1 2022

H1 2021

 

 

 

Net cash flows from operating activities

-7,659

41,048

Acquisition of intangible assets

-2,146

-1,969

Acquisition of property, plant and equipment

-39,080

-33,265

Free Cash Flow

-48,885

5,814

Net Cash

kEUR

As at 30 June 2022

As at 31 December 2021

 

 

 

Cash and cash equivalents

66,436

136,303

Interest-bearing liabilities (Total financial debt):

 

 

Lease liabilities (Non-current)

-16,557

-14,947

Other financial liabilities (Non-current)

-10,036

-10,302

Lease liabilities (Current)

-3,326

-3,058

Other financial liabilities (Current)

-1,136

-1,145

Interest-bearing liabilities (Total financial debt)

-31,055

-29,452

Net Cash

35,381

106,851

Revenue at constant currencies1

kEUR

H1 2022

H1 2021

 

 

 

Revenue at constant currencies 1

130,683

136,521

Impact from changes in exchange rates compared to prior period

2,973

-1,385

Revenue reported (IFRS)

133,656

135,136

1 Revenue translated into the presentation currency, EUR, using the weighted average EUR currency exchange rate from the prior period.

Change in revenue

 

H1 2022 vs H1 2021

H1 2021 vs H1 2020

 

 

 

Change in revenue reported (IFRS) (%)

-1.1%

53.9%

Change in revenue at constant currencies (%)

-3.3%

55.5%

Coronavirus pandemic

 

H1 2022

H1 2021

2021 (full-year)

 

 

 

 

Revenue associated with the coronavirus pandemic

32,823

32,219

63,194

Revenue not associated with the coronavirus pandemic

100,833

102,917

218,932

Revenue reported (IFRS)

133,656

135,136

282,126

 

 

 

 

Capital expenditures (Capex)

 

H1 2022

H1 2021

 

 

 

Property, plant and equipment assets capitalized

36,432

23,527

Intangible assets capitalized

1,494

1,462

Capital expenditures (Capex)

37,926

24,989