Consolidated cash flow statements

Consolidated interim financial statements

(unaudited)

(thousands of €)

2018

2017

Cash and cash equivalents at beginning of year

1,151,211

973,241

 

 

 

Net loss

(37,283)

(13,605)

 

 

 

Adjustments for:

 

 

Tax expense

62

Net financial expense

5,184

2,380

Depreciation of property, plant and equipment

914

870

Amortization of intangible fixed assets

283

180

Net realized gain / loss (–) on foreign exchange transactions

63

(338)

Share-based compensation

3,943

3,023

Increase in pension liabilities

78

72

 

 

 

 

(26,755)

(7,418)

 

 

 

Increase in inventories

(14)

(24)

Decrease / Increase (–) in receivables

12,928

(11,586)

Increase in payables

7,568

11,092

Decrease in deferred income

(34,458)

(15,259)

 

 

 

Cash used in operations

(40,732)

(23,196)

 

 

 

Interest paid

(500)

(16)

Interest received

1,428

370

 

 

 

Net cash flows used in operating activities

(39,804)

(22,843)

 

 

 

Purchase of property, plant and equipment

(1,192)

(916)

Purchase of and expenditure in intangible fixed assets

(340)

(120)

Proceeds from disposal of property, plant and equipment

1

1

Decrease in restricted cash

6,531

 

 

 

Net cash flows generated / used (–) in investing activities

(1,531)

5,497

 

 

 

Repayment of obligations under finance leases and other debts

(19)

(14)

Proceeds from capital and share premium increases from exercise of warrants

3,924

 

 

 

Net cash flows generated /used (–) in financing activities

3,905

(14)

 

 

 

Effect of exchange rate differences on cash and cash equivalents

(5,595)

(2,496)

 

 

 

Decrease in cash and cash equivalents

(43,025)

(19,856)

 

 

 

Cash and cash equivalents at end of the period

1,108,186

953,385