At a glance

At a glance
Galapagos NV • H1 Report 2018

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Consolidated Key Figures

(thousands of €, if not stated otherwise)

 

 

 

 

 

(*)

Our revenues, shareholders' equity and deferred income for the second quarter of 2018 and the six months ended 30 June 2018 were influenced by the adoption of the new standard IFRS 15 – Revenue from contract with customers, on 1 January 2018. We refer to the notes of this interim consolidated financial report for additional information.

(**)

The operational cash burn (or operational cash flow if this performance measure is positive) is equal to the sum of the net cash flows generated / used (–) in operating activities and the net cash flows generated / used (–) in investing activities minus (i) the proceeds or cash used, if any, in acquisitions or disposals of businesses; and (ii) the movement in restricted cash, if any. This alternative performance measure is in our view an important metric for a biotech company in the development stage.

Income statement

Second quarter of 2018

Second quarter of 2017

Six months ended 30 June 2018

Six months ended 30 June 2017

Full year 2017

Revenues(*)

49,676

26,933

87,583

60,925

127,087

Other income

7,358

6,235

14,289

12,106

28,830

R&D expenditure

(81,680)

(47,983)

(151,444)

(92,913)

(218,502)

S, G&A expenses

(9,104)

(6,861)

(16,214)

(13,020)

(27,218)

Operating expenses

(90,784)

(54,844)

(167,658)

(105,933)

(245,720)

Operating loss

(33,750)

(21,676)

(65,786)

(32,903)

(89,802)

Net financial results

12,052

(13,874)

6,867

(16,254)

(25,705)

Taxes

(75)

(92)

(137)

(92)

(198)

Net loss

(21,773)

(35,642)

(59,056)

(49,249)

(115,704)

 

 

 

 

 

 

Balance sheet

 

 

 

 

 

Cash and cash equivalents

1,066,766

1,262,061

1,066,766

1,262,061

1,151,211

R&D incentives receivables

86,221

71,501

86,221

71,501

75,783

Assets

1,204,348

1,368,355

1,204,348

1,368,355

1,286,274

Shareholders' equity(*)

885,659

1,069,026

885,659

1,069,026

1,011,983

Deferred income(*)

243,149

254,863

243,149

254,863

219,892

Other liabilities

75,539

44,466

75,539

44,466

54,399

 

 

 

 

 

 

Cash flow

 

 

 

 

 

Operational cash burn(**)

(53,668)

(29,500)

(95,003)

(53,378)

(154,089)

Cash flow generated in financing activities

1,349

352,787

5,254

352,773

353,357

Effect of currency exchange rate fluctuation on cash and cash equivalents

10,899

(14,611)

5,304

(17,107)

(27,808)

Increase / decrease (–) in cash and cash equivalents

(41,420)

308,676

(84,445)

288,820

177,970

Cash and cash equivalents at the end of the period

1,066,766

1,262,061

1,066,766

1,262,061

1,151,211

 

 

 

 

 

 

Financial ratios

 

 

 

 

 

Number of shares issued at the end of the period

51,337,763

50,867,678

51,337,763

50,867,678

50,936,778

Basic and diluted loss per share (in €)

(0.42)

(0.71)

(1.16)

(1.03)

(2.34)

Share price at the end of the period (in €)

78.94

66.86

78.94

66.86

78.98

Total group employees at the end of the period (number)

675

550

675

550

600
Employees per site as of 30 June 2018

Employees per site (graphic)