4. Segment information
In 2014, following the sale of the service division on 1 April 2014, the continuing operations related primarily to R&D activities. Consequently, there was one reportable segment as at 31 December 2014.
In 2015, the IFRS 8 threshold of 10% of the combined revenues, external and inter-segment, of all segments was met by the external and internal revenues reported by our fee-for-service business located in Croatia. Consequently, there are two reportable segments in 2015, R&D and fee-for-service business.
Segment information for the year 2015
(thousands of €) |
R&D |
Fee-For- |
Inter- |
Group |
||||
Revenue |
34,129 |
10,893 |
(5,459) |
39,563 |
||||
Other income |
20,778 |
238 |
|
21,017 |
||||
|
||||||||
Revenues & other income |
54,907 |
11,131 |
(5,459) |
60,579 |
||||
|
|
|
|
|
||||
Segment result |
(82,024) |
(2,690) |
|
(84,713) |
||||
Unallocated expenses (1) |
|
|
|
(4,731) |
||||
Operating loss |
|
|
|
(89,444) |
||||
Financial (expenses) / income (2) |
|
|
|
(30,184) |
||||
Result before tax |
|
|
|
(119,627) |
||||
Incomes taxes (2) |
|
|
|
1,218 |
||||
Net loss from continuing operations |
|
|
|
(118,410) |
||||
Net income from discontinued operations |
|
|
|
– |
||||
Net income / loss (–) |
|
|
|
(118,410) |
||||
Segment information for the year 2014
(thousands of €) |
R&D |
Fee-For- |
Inter- |
Group |
||||
Revenue |
65,642 |
7,809 |
(4,083) |
69,368 |
||||
Other income |
20,437 |
217 |
|
20,653 |
||||
|
||||||||
Revenues & other income |
86,079 |
8,025 |
(4,083) |
90,021 |
||||
|
|
|
|
|
||||
Segment result |
(30,369) |
(4,704) |
|
(35,073) |
||||
Unallocated expenses (1) |
|
|
|
(1,551) |
||||
Operating loss |
|
|
|
(36,624) |
||||
Financial (expenses) / income (2) |
|
|
|
1,424 |
||||
Result before tax |
|
|
|
(35,201) |
||||
Incomes taxes (2) |
|
|
|
(2,103) |
||||
Net loss from continuing operations |
|
|
|
(37,303) |
||||
Net income from discontinued operations |
|
|
|
70,514 |
||||
Net income / loss (–) |
|
|
|
33,211 |
||||
Geographical information
In 2015 our operations were located in Belgium, Croatia, France and The Netherlands.
In 2015 our top 10 customers represented 97% of the revenues. Our client base in 2015 and 2014 included six of the top 20 pharmaceutical companies in the world.
Following table summarizes our revenues by destination of customer:
|
As at 31 December |
|
(thousands of €) |
2015 |
2014 |
United States |
17,077 |
31,100 |
Europe |
22,446 |
38,169 |
Asia Pacific |
40 |
100 |
Total revenues |
39,563 |
69,368 |
Following table summarizes our revenues by major customers:
|
As at 31 December |
|||
|
2015 |
2014 |
||
|
(thousands of €) |
% |
(thousands of €) |
% |
AbbVie |
29,870 |
75% |
54,092 |
78% |
Europe |
13,640 |
34% |
24,054 |
35% |
United States |
16,229 |
41% |
30,038 |
43% |
Janssen Pharmaceutica |
566 |
1% |
8,662 |
12% |
Europe |
112 |
0% |
8,662 |
12% |
United States |
454 |
1% |
|
|
Total revenues |
30,436 |
77% |
62,754 |
90% |
Following table summarizes our revenues of the continuing operations by destination of our entity:
|
Year ended 31 December |
|
(thousands of €) |
2015 |
2014 |
Galapagos NV (Belgium) |
34,082 |
65,448 |
Galapagos SASU (France) |
25 |
108 |
Fidelta d.o.o. (Croatia) |
5,440 |
3,726 |
Xenometrix, Inc. (United States) |
16 |
86 |
Total revenues |
39,563 |
69,368 |
In 2015, we held €68 million of non-current assets (€57 million in 2014) distributed as follows:
- France: €29 million (€26 million in 2014)
- Belgium: €30 million (€25 million in 2014)
- Croatia: €5 million (€4 million in 2014)
- The Netherlands: €4 million (€1 million in 2014)
The increase in non-current assets is explained by the increase in non-current R&D incentives receivables (see note 15).