UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO SECTION 13a-16 OR 15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934
For the month of November,
Commission File Number: 001-36815
(Exact Name of Registrant as Specified in Its Charter)
Tuborg Boulevard 12
DK-2900 Hellerup
Denmark
(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
Form 20-F ☒ Form 40-F ☐
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ☐
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ☐
INCORPORATION BY REFERENCE
This report on Form 6-K shall be deemed to be incorporated by reference into the registration statements on Form S-8 (Registration Numbers 333-228576, 333-203040, 333-210810, 333-211512, 333-213412, 333-214843, 333-216883, 333-254101, and 333-261550) and Form F-3 (Registration Numbers 333-209336, 333-211511, 333-216882, 333-223134, 333-225284, and 333-256571) of Ascendis Pharma A/S (the “Company”) (including any prospectuses forming a part of such registration statements) and to be a part thereof from the date on which this report is filed, to the extent not superseded by documents or reports subsequently filed or furnished.
Information Contained in this Form 6-K Report
Financial Statements
This report contains the Company’s Unaudited Condensed Consolidated Interim Financial Statements as of September 30, 2022, including Management’s Discussion and Analysis of Financial Condition and Results of Operations for the period presented therein.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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Ascendis Pharma A/S |
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Date: November 2, 2022 |
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By: |
/s/ Michael Wolff Jensen |
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Michael Wolff Jensen |
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Senior Vice President, Chief Legal Officer |
TABLE OF CONTENTS
1. |
Unaudited Condensed Consolidated Interim Financial Statements – September 30, 2022 |
F-1 |
2. |
Management’s Discussion and Analysis of Financial Condition and Results of Operations |
1 |
ASCENDIS PHARMA A/S
INDEX TO UNAUDITED CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS
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F-2 |
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F-3 |
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F-4 |
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F-5 |
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Notes to the Unaudited Condensed Consolidated Interim Financial Statements |
F-6 |
F-1
Unaudited Condensed Consolidated Interim Statements of Profit or Loss
and Comprehensive Income / (Loss) for the Three and Nine Months Ended September 30, 2022 and 2021
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Three Months Ended |
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Nine Months Ended |
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Notes |
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2022 |
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2021 |
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2022 |
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2021 |
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(EUR’000) |
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(EUR’000) |
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Statement of Profit or Loss |
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Revenue |
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5 |
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Cost of sales |
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Gross profit |
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Research and development costs |
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Selling, general and administrative expenses |
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Operating profit / (loss) |
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( |
) |
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( |
) |
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( |
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( |
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Share of profit / (loss) of associate |
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( |
) |
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( |
) |
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( |
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Finance income |
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Finance expenses |
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Profit / (loss) before tax |
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( |
) |
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( |
) |
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( |
) |
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( |
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Tax on profit / (loss) for the period |
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( |
) |
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( |
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Net profit / (loss) for the period |
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( |
) |
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( |
) |
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( |
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( |
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Attributable to owners of the Company |
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( |
) |
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( |
) |
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( |
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( |
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Basic and diluted earnings / (loss) per share |
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€ |
( |
) |
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€ |
( |
) |
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€ |
( |
) |
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€ |
( |
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Number of shares used for calculation (basic and diluted) (1) |
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(EUR’000) |
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(EUR’000) |
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Statement of Comprehensive Income |
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Net profit / (loss) for the period |
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( |
) |
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( |
) |
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( |
) |
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( |
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Other comprehensive income / (loss) |
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Items that may be reclassified subsequently to profit or loss: |
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Exchange differences on translating foreign operations |
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( |
) |
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( |
) |
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Other comprehensive income / (loss) for the period, net of tax |
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( |
) |
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( |
) |
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Total comprehensive income / (loss) for the period, net of tax |
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( |
) |
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( |
) |
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( |
) |
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( |
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Attributable to owners of the Company |
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( |
) |
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( |
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( |
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( |
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F-2
Unaudited Condensed Consolidated Interim Statements of Financial Position
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Notes |
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September 30, |
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December 31, |
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(EUR’000) |
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Assets |
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Non-current assets |
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Intangible assets |
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Property, plant and equipment |
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Investment in associate |
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Other receivables |
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10 |
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Marketable securities |
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10 |
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Current assets |
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Inventories |
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Trade receivables |
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10 |
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Income tax receivables |
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Other receivables |
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10 |
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Prepayments |
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Marketable securities |
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10 |
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Cash and cash equivalents |
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10 |
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Total assets |
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Equity and liabilities |
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Equity |
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Share capital |
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8 |
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Distributable equity |
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Non-current liabilities |
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Borrowings |
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10 |
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Derivative liabilities |
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10 |
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Contract liabilities |
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Current liabilities |
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Borrowings |
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10 |
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Contract liabilities |
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Trade payables and accrued expenses |
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10 |
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Other liabilities |
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Income taxes payable |
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Provisions |
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Total liabilities |
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Total equity and liabilities |
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F-3
Unaudited Condensed Consolidated Interim Statements of Changes in Equity
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Distributable Equity |
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Share |
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Share |
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Treasury |
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Foreign |
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Share-based |
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Accumulated |
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Total |
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(EUR’000) |
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Equity at January 1, 2022 |
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( |
) |
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( |
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Net profit / (loss) for the period |
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— |
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— |
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— |
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— |
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— |
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( |
) |
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( |
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Other comprehensive income / (loss), net of tax |
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— |
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— |
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— |
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( |
) |
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— |
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— |
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( |
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Total comprehensive income / (loss) |
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— |
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— |
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— |
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( |
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— |
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( |
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( |
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Transactions with Owners |
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Share-based payment (Note 7) |
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— |
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— |
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— |
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— |
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— |
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Acquisition of treasury shares (Note 9) |
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— |
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— |
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( |
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— |
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— |
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— |
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( |
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Capital increase |
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— |
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— |
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— |
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— |
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Equity at September 30, 2022 |
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( |
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( |
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Distributable Equity |
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Share |
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Share |
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Treasury |
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Foreign |
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Share-based |
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Accumulated |
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Total |
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(EUR’000) |
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Equity at January 1, 2021 |
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( |
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( |
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Net profit / (loss) for the period |
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— |
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— |
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— |
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— |
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— |
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( |
) |
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( |
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Other comprehensive income / (loss), net of tax |
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— |
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— |
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— |
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— |
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Total comprehensive income / (loss) |
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— |
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— |
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— |
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( |
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( |
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Transactions with Owners |
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Share-based payment (Note 7) |
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— |
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— |
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— |
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— |
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— |
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Capital increase |
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— |
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— |
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— |
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— |
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Cost of Capital increase |
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— |
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( |
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— |
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— |
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— |
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— |
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( |
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Equity at September 30, 2021 |
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( |
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F-4
Unaudited Condensed Consolidated Interim Cash Flow Statements for the
Nine Months Ended September 30, 2022 and 2021
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Nine Months Ended |
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2022 |
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2021 |
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(EUR’000) |
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Operating activities |
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Net profit / (loss) for the period |
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( |
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( |
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Reversal of finance income |
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( |
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( |
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Reversal of finance expenses |
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Reversal of gain and loss on disposal of property, plant and equipment |
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Reversal of tax charge |
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( |
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Increase / (decrease) in provisions |
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Adjustments for non-cash items: |
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Non-cash consideration relating to revenue |
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( |
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( |
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Share of profit / (loss) of associate |
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( |
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Share-based payment |
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Depreciation |
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Amortization |
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Changes in working capital: |
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Inventories |
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( |
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( |
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Receivables |
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( |
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( |
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Prepayments |
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( |
) |
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( |
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Contract liabilities (deferred income) |
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( |
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Trade payables, accrued expenses and other payables |
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Cash flows generated from / (used in) operations |
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( |
) |
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( |
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Finance income received |
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