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Condensed consolidated statements of cash flows (Unaudited) - EUR (€)
€ in Thousands
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Cash flows from operating activities    
Net profit/ (loss) for the year € (10,557) € (1,582)
Adjusted for:    
Equity settled share-based payment transactions 2,633 14,688
Fair value movement in warrants (5,535) (15,883)
Depreciation and amortization 428 (221)
Net finance income (578) (2,143)
Share of losses of equity-accounted investee 522
Impairment charge - inventory 1,172
Onerous contract provision 709
Total Adjusted  (11,206) (5,141)
Changes in working capital:    
(Increase) in receivables (1,598) (6,508)
(Increase) in inventories (9,540) (3,419)
Increase in payables and accruals (995) (556)
Interest paid (21)
Net cash used by operating activities (23,360) (15,624)
Cash flows from investing activities    
Payment for intellectual property from 2020 business combination (250) (500)
Purchase of property, plant and equipment (8,395) (9,222)
Development expenditure (1,404) (857)
Purchase of intangible assets – other (42) (10)
Purchase of financial assets (44,328)
Proceeds from realisation of financial assets 27,893 10,951
Investment in equity-accounted investees (522)
Net cash from /(used) in investing activities 17,280 (43,966)
Cash flows from financing activities    
Proceeds from issuance of shares 2,174
Proceeds from warrants exercised 10,051
Payment of lease liabilities (302) (228)
Net cash provided by financing activities 1,872 9,823
Net (decrease)/increase in cash and cash equivalents (4,208) (49,767)
Cash and cash equivalents at beginning of period 7,681 58,007
Effects of movements in exchange rates on cash held 137 (365)
Cash and cash equivalents at end of period € 3,610 € 7,875