4. Segment information
The group holds two reportable segments, R&D and fee-for-service business.
Segment information for the year 2018
(thousands of €) |
R&D |
Fee-for-services |
Inter-segment |
Group |
||
|
||||||
External revenue |
278,666 |
10,170 |
|
288,836 |
||
Internal revenue |
|
8,508 |
(8,508) |
– |
||
Other income |
29,000 |
9 |
|
29,009 |
||
Revenues & other income |
307,666 |
18,687 |
(8,508) |
317,845 |
||
|
|
|
|
|
||
Segment result |
(19,734) |
1,751 |
|
(17,983) |
||
Unallocated expenses(1) |
|
|
|
(26,824) |
||
Operating loss |
|
|
|
(44,807) |
||
Financial (expenses)/income |
|
|
|
15,598 |
||
Result before tax |
|
|
|
(29,209) |
||
Income taxes |
|
|
|
(50) |
||
Net loss |
|
|
|
(29,259) |
||
Segment information for the year 2017
(thousands of €) |
R&D |
Fee-for-services |
Inter-segment |
Group |
||
|
||||||
External revenue |
118,262 |
8,825 |
|
127,087 |
||
Internal revenue |
|
5,104 |
(5,104) |
– |
||
Other income |
28,815 |
15 |
|
28,830 |
||
Revenues & other income |
147,077 |
13,945 |
(5,104) |
155,918 |
||
|
|
|
|
|
||
Segment result |
(73,610) |
86 |
|
(73,524) |
||
Unallocated expenses(1) |
|
|
|
(16,278) |
||
Operating loss |
|
|
|
(89,802) |
||
Financial (expenses)/income |
|
|
|
(25,705) |
||
Result before tax |
|
|
|
(115,507) |
||
Income taxes |
|
|
|
(198) |
||
Net loss |
|
|
|
(115,704) |
||
Segment assets and liabilities are not information being provided to management on a recurring basis. This information is therefore not disclosed in our segment information.
Geographical information
In 2018 our operations were mainly located in Belgium, Croatia, France and the Netherlands.
In 2018 our top 10 customers represented 98.6% of the revenues. Our client base in 2018 and 2017 included nine of the largest pharmaceutical companies in the world.
Following table summarizes our revenues by destination of customer:
|
Year ended 31 December |
|
(thousands of €) |
2018 |
2017 |
North America |
117.609 |
82.050 |
Europe |
171.113 |
45.037 |
Asia Pacific |
114 |
– |
Total revenues |
288.836 |
127.087 |
Following table summarizes our revenues by major customers:
|
Year ended 31 December |
|||
|
2018 |
2017 |
||
|
(thousands of €) |
% |
(thousands of €) |
% |
Gilead |
|
|
|
|
North America |
116,640 |
40% |
80,687 |
63% |
Europe |
7,793 |
3% |
|
|
AbbVie |
|
|
|
|
Europe |
89,936 |
31% |
34,049 |
27% |
Novartis |
|
|
|
|
Europe |
55,218 |
19% |
|
|
Servier |
|
|
|
|
Europe |
9,000 |
3% |
|
|
Total revenues from major customers |
278,587 |
96% |
114,736 |
90% |
Following table summarizes our revenues by destination of our entity:
|
Year ended 31 December |
|
(thousands of €) |
2018 |
2017 |
Galapagos NV (Belgium) |
278.649 |
118.244 |
Galapagos SASU (France) |
16 |
18 |
Fidelta d.o.o. (Croatia) |
10.170 |
8.825 |
Total revenues |
288.836 |
127.087 |
In 2018, we held €110 million of non-current assets (€89 million in 2017) distributed as follows:
- Belgium: €64 million (€47 million in 2017)
- France: €36 million (€34 million in 2017)
- Croatia: €5 million (€4 million in 2017)
- The Netherlands: €4 million (€4 million in 2017)
The increase in non-current assets was mainly explained by the increase in non-current R&D incentives receivables (see note 14).