Consolidated cash flow statements

Unaudited condensed consolidated interim financial statements

(unaudited)

 

Six months ended 30 June

(thousands of €)

2018

2017

Cash and cash equivalents at beginning of year

1,151,211

973,241

 

 

 

Net loss

(59,056)

(49,249)

 

 

 

Adjustments for:

 

 

Tax expense

137

92

Net financial income (–) / expense

(6,868)

16,254

Depreciation of property, plant and equipment

1,866

1,780

Amortization of intangible fixed assets

1,818

364

Net realized gain / loss (–) on foreign exchange transactions and other financial expenses paid

(4)

(464)

Share-based compensation

10,540

6,968

Decrease in provisions

(8)

(8)

Increase in pension liabilities

157

143

 

 

 

 

(51,418)

(24,120)

 

 

 

Decrease / increase (–) in inventories

12

(18)

Increase in receivables

(3,204)

(2,248)

Increase in payables

21,357

5,307

Decrease in deferred income

(59,967)

(30,752)

 

 

 

Cash used in operations

(93,219)

(51,830)

 

 

 

Interest paid

(848)

(25)

Interest received

2,789

557

 

 

 

Net cash flows used in operating activities

(91,278)

(51,298)

 

 

 

Purchase of property, plant and equipment

(3,003)

(2,260)

Purchase of and expenditure in intangible fixed assets

(722)

(204)

Proceeds from disposal of property, plant and equipment

1

12

Decrease in restricted cash

6,531

Proceeds from sale of available-for-sale financial assets

372

 

 

 

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

(3,724)

4,451

 

 

 

Repayment of obligations under finance leases and other debts

(7)

(33)

Proceeds from capital and share premium increases, gross amount

363,924

Issue costs paid related to capital and share premium increases

(15,784)

Proceeds from capital and share premium increases from exercise of warrants

5,261

4,666

 

 

 

Net cash flows generated in financing activities

5,254

352,773

 

 

 

Effect of exchange rate differences on cash and cash equivalents

5,304

(17,107)

 

 

 

Increase / decrease (–) in cash and cash equivalents

(84,445)

288,820

 

 

 

Cash and cash equivalents at end of the period

1,066,766

1,262,061

The accompanying notes form an integral part of these condensed consolidated financial statements.