5. Segment information

Notes to the consolidated financial statements
CSR report

Operational segmentation

The group had two reportable segments, R&D and fee-for-service business. Due to the disposal of Fidelta d.o.o. (our fee-for-service segment), we reported this segment as discontinued operations. Galapagos is therefore operating as a single operating segment.

Geographical information

In 2020 our continuing operations were mainly located in Belgium, France and the Netherlands and our top 3 customers represented 99.9% of the revenues. Our client base in 2020 and 2019 included three of the largest pharmaceutical companies in the world.

Following table summarizes our revenues by destination of customer:

 

Year ended 31 December

(thousands of €)

2020

2019

United States of America

472,445

793,873

Europe

5,607

41,028

Total revenues

478,053

834,901

Following table summarizes our revenues by major customers:

 

Year ended 31 December

 

2020

2019

 

(thousands of €)

%

(thousands of €)

%

Gilead

 

 

 

 

United States of America(1)

472,445

99%

793,873

95%

Europe(1)

1,460

0%

-4,570

-1%

AbbVie

 

 

 

 

Europe

(52)

0%

26,356

3%

Novartis

 

 

 

 

Europe

4,125

1%

19,177

2%

Total revenues from major customers

477,978

100%

834,836

100%

(1)

Following the contract amendment with Gilead in 2019, the revenue recognized for filgotinib for the year ended 31 December 2019, included a negative catch-up effect on closing date of €245.9 million resulting from the decrease in the percentage of completion applied to previously received upfront and milestones for that program.

On 31 December 2020, we held €171 million (€91 million in 2019) of property, plant and equipment and intangible assets distributed as follows:

 

31 December

(thousands of €)

2020

2019(1)

Belgium

113,524

57,007

France

18,398

18,102

The Netherlands

28,210

7,951

Croatia

-

6,182

Switzerland

7,668

1,057

Spain

2,755

-

Other

388

681

Total

170,943

90,979

(1)

In accordance with IFRS 8 we only present the total of the property, plant and equipment and intangible assets in this disclosure note. This is a change in presentation compared to the amounts that were published in this disclosure note for the year ended 31 December 2019. We elected to adjust the historical consolidated financial information presented in this disclosure note to reflect this change in presentation.

As the net assets associated with Fidelta d.o.o. (Croatia) will be recovered principally through a sale transaction rather than through continuing use, we have classified these assets and the associated liabilities as held for sale in our financial statements for the year ended 31 December 2020.