At a glance

At a glance
Galapagos NV • Q3 Report 2019

(XLS:) Download XLS

Consolidated key figures

(thousands of €, if not stated otherwise)

Third quarter of 2019

Third quarter of 2018

Nine months ended 30 September 2019

Nine months ended 30 September 2018

Full year 2018

(1)

Our assets, shareholders’ equity, other liabilities, cash flow generated / used (–) in operating activities and cash flow generated in financing activities for the period ended 30 September 2019 were influenced by the adoption of the new standard IFRS 16 – Leases, on 1 January 2019. We refer to the notes of this condensed consolidated interim financial report for additional information.

(2)

The operational cash burn (or operational cash flow if this performance measure is positive) is equal to the increase or decrease in our cash and cash equivalents (excluding the effect of exchange rate differences on cash and cash equivalents), minus:
(i)the net proceeds, if any, from share capital and share premium increases included in the net cash flows generated / used (–) in financing activities(ii)the net proceeds or cash used, if any, in acquisitions or disposals of businesses; and the movement in restricted cash, if any, included in the net cash flows generated / used (–) in investing activities.

 

This alternative performance measure is in our view an important metric for a biotech company in the development stage.

Income statement

 

 

 

 

 

Revenues

633,934

94,874

725,719

182,457

288,836

Other income

10,020

8,334

26,744

22,623

29,009

R&D expenditure

(120,680)

(80,314)

(298,247)

(231,758)

(322,875)

S, G&A expenses

(32,643)

(10,623)

(61,195)

(26,837)

(39,776)

Operating expenses

(153,323)

(90,937)

(359,442)

(258,595)

(362,652)

Operating profit / loss (–)

490,631

12,271

393,021

(53,515)

(44,807)

Net financial results

(146,226)

2,091

(144,391)

8,958

15,598

Taxes

16,828

480

16,699

343

(50)

Net profit / net loss (–)

361,233

14,841

265,329

(44,215)

(29,259)

 

 

 

 

 

 

Balance sheet

 

 

 

 

 

Cash and cash equivalents

5,599,787

1,343,668

5,599,787

1,343,668

1,290,796

R&D incentives receivables

99,711

80,447

99,711

80,447

84,646

Assets (1)

5,851,752

1,485,551

5,851,752

1,485,551

1,439,496

Shareholders’ equity (1)

2,535,281

1,188,222

2,535,281

1,188,222

1,214,249

Deferred income

3,127,777

209,742

3,127,777

209,742

149,801

Other liabilities (1)

188,695

87,587

188,695

87,587

75,446

 

 

 

 

 

 

Cash flow

 

 

 

 

 

Operational cash flow / burn (–) (2)

3,454,585

(5,571)

3,302,041

(100,581)

(158,384)

Cash flow generated / used (–) in operating activities (1)

3,470,495

(3,640)

3,328,758

(94,918)

(142,466)

Cash flow used in investing activities

(14,221)

(1,933)

(22,881)

(5,657)

(15,914)

Cash flow generated in financing activities (1)

965,072

281,181

970,733

286,435

287,876

Increase in cash and cash equivalents

4,421,347

275,608

4,276,610

185,860

129,497

Effect of currency exchange rate fluctuation on cash and cash equivalents

30,514

1,292

32,380

6,596

10,089

Cash and cash equivalents at the end of the period

5,599,787

1,343,668

5,599,787

1,343,668

1,290,796

 

 

 

 

 

 

Financial ratios

 

 

 

 

 

Number of shares issued at the end of the period

61,953,831

54,299,136

61,953,831

54,299,136

54,465,421

Basic gain / loss (–) per share (in €)

6.26

0.29

4.77

(0.86)

(0.56)

Diluted gain / loss (–) per share (in €)

6.03

0.28

4.59

(0.86)

(0.56)

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

139.80

97.42

139.80

97.42

80.56

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

918

712

918

712

725
Employees per site as of 30 September 2019 (total: 918 employees)

Employees per site (graphic)