Registration Statement Pursuant to Section 12(b) or (g) of the Securities Exchange Act of 1934 |
Annual Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 for the Fiscal Year Ended |
Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 |
Shell Company Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 |
Title of Each Class |
Trading Symbol(s) |
Name of Each Exchange on which Registered | ||
Large accelerated filer | ☐ | Accelerated filer | ☐ | |||
☒ | Emerging growth company |
U.S. GAAP ☐ |
|
Other ☐ | ||||||
by the International Accounting Standards Board | ☒ |
Page |
||||
ARRIVAL LUXEMBOURG SARL |
||||
Audited Financial Statements |
||||
F-4 | ||||
F-5 | ||||
F-6 | ||||
F-7 | ||||
F-8 | ||||
F-9 | ||||
ARRIVAL |
||||
For the period from October 27, 2020 (inception) through December 31, 2020 |
||||
Audited Financial Statements |
||||
F-58 | ||||
F-59 | ||||
F-60 | ||||
F-61 | ||||
F-62 | ||||
F-63 |
Page | ||
F-4 | ||
F-5 | ||
F-6 | ||
F-7 | ||
F-8 | ||
F-9 - F-55 |
In thousands of euro |
2020 |
2019 |
2018 |
|||||||||||||
Note | ||||||||||||||||
Continuing Operations |
||||||||||||||||
Administrative expenses |
19C | ( |
) | ( |
) | ( |
) | |||||||||
Research and development expenses |
19C | ( |
) | ( |
) | ( |
) | |||||||||
Impairment expense |
19C | ( |
) | ( |
) | ( |
) | |||||||||
Other income |
19A | |||||||||||||||
Other expenses |
19B | ( |
) | ( |
) | ( |
) | |||||||||
Operating loss |
( |
) |
( |
) |
( |
) | ||||||||||
Finance income |
20 | |||||||||||||||
Finance expense |
20 | ( |
) | ( |
) | ( |
) | |||||||||
Net finance expense |
( |
) |
( |
) |
||||||||||||
Loss before tax |
( |
) |
( |
) |
( |
) | ||||||||||
Tax income |
16A | |||||||||||||||
Loss for the year |
( |
) |
( |
) |
( |
) | ||||||||||
Attributable to: |
||||||||||||||||
Owners of the Company |
( |
) | ( |
) | ( |
) | ||||||||||
Earnings per share (presented in euro) |
14 | |||||||||||||||
Basic earnings per share |
( |
) | ( |
) | ( |
) | ||||||||||
Diluted earnings per share |
( |
) | ( |
) | ( |
) |
Loss for the year |
( |
) |
( |
) |
( |
) | ||||||||||
Items that may be reclassified subsequently to the consolidated statement profit or (loss) |
||||||||||||||||
Exchange differences on translating foreign operations |
13C | ( |
) | ( |
) | |||||||||||
Total other comprehensive (loss)/income |
( |
) |
( |
) | ||||||||||||
Total comprehensive loss for the year |
( |
) |
( |
) |
( |
) | ||||||||||
Attributable to: |
||||||||||||||||
Owners of the Company |
( |
) | ( |
) | ( |
) |
In thousands of euro |
2020 |
2019 |
||||||||||
ASSETS |
||||||||||||
Non-Current Assets |
Note | |||||||||||
Property, plant and equipment |
7 | |||||||||||
Intangible assets and goodwill |
8 | |||||||||||
Deferred tax asset |
16B | |||||||||||
Trade and other receivables |
10A | |||||||||||
|
|
|
|
|||||||||
Total Non-Current Assets |
||||||||||||
|
|
|
|
|||||||||
Current Assets |
||||||||||||
Inventory |
11 | |||||||||||
Loans to executives |
22,25 | — | ||||||||||
Trade and other receivables |
10B | |||||||||||
Prepayments |
||||||||||||
Cash and cash equivalents |
12 | |||||||||||
|
|
|
|
|||||||||
Total Current Assets |
||||||||||||
|
|
|
|
|||||||||
TOTAL ASSETS |
||||||||||||
|
|
|
|
|||||||||
EQUITY AND LIABILITIES |
||||||||||||
Capital and reserves |
||||||||||||
Share capital |
13A | |||||||||||
Share premium |
13B | |||||||||||
Other reserves |
13C | |||||||||||
Accumulated deficit |
( |
) | ( |
) | ||||||||
|
|
|
|
|||||||||
Total Equity |
||||||||||||
|
|
|
|
|||||||||
Non-Current Liabilities |
||||||||||||
Deferred tax liability |
16B | — | ||||||||||
Loans and borrowings |
15 | |||||||||||
|
|
|
|
|||||||||
Total Non-Current Liabilities |
||||||||||||
|
|
|
|
|||||||||
Current Liabilities |
||||||||||||
Current tax liabilities |
||||||||||||
Loans and borrowings |
15 | |||||||||||
Trade and other payables |
17 | |||||||||||
|
|
|
|
|||||||||
Total Current Liabilities |
||||||||||||
|
|
|
|
|||||||||
TOTAL EQUITY AND LIABILITIES |
||||||||||||
|
|
|
|
In thousands of euro |
Note |
Share capital |
Share premium |
Accumulated deficit |
Other reserves* |
Total equity |
||||||||||||||||||
Balance at January 1, 2020 |
( |
) |
||||||||||||||||||||||
Loss for the year |
— | — | ( |
) | — | ( |
) | |||||||||||||||||
Other comprehensive income |
— | — | — | ( |
) | ( |
) | |||||||||||||||||
Transactions with shareholders |
( |
) |
( |
) |
||||||||||||||||||||
Capital increase |
13 | — | — | |||||||||||||||||||||
Restrictive Share Plan to employees |
13,10 A | — | — | — | ||||||||||||||||||||
Equity-settled share-based payments |
21 | — | — | — | ||||||||||||||||||||
Business combination under common control |
— | — | ( |
) | — | ( |
) | |||||||||||||||||
Balance at December 31, 2020 |
( |
) |
||||||||||||||||||||||
Unadjusted balance at January 1, 2019 |
( |
) |
||||||||||||||||||||||
Changes in accounting policy to reflect IFRS 16 |
— | — | ( |
) | — | ( |
) | |||||||||||||||||
Balance at January 1, 2019 |
( |
) |
||||||||||||||||||||||
Loss for the year |
— | — | ( |
) | ( |
) | ||||||||||||||||||
Other comprehensive income |
— | — | — | |||||||||||||||||||||
Transactions with shareholders |
( |
) |
||||||||||||||||||||||
Capital increase |
13 | — | — | |||||||||||||||||||||
Conversion of share premium to share capital |
13 | ( |
) | — | — | — | ||||||||||||||||||
Business combination under common control |
— | — | ( |
) | — | ( |
) | |||||||||||||||||
Balance at December 31, 2019 |
( |
) |
||||||||||||||||||||||
Balance at January 1, 2018 |
( |
) |
||||||||||||||||||||||
Loss for the year |
— | — | ( |
) | — | ( |
) | |||||||||||||||||
Other comprehensive loss |
— | — | — | ( |
) | ( |
) | |||||||||||||||||
Transactions with shareholders |
( |
) |
||||||||||||||||||||||
Capital increase |
12 | — | — | — | ||||||||||||||||||||
Balance at December 31, 2018 |
( |
) |
||||||||||||||||||||||
* | Other reserves comprise of translation reserves and equity reserves which are not distributable (see note 13). |
In thousands of euro |
2020 |
2019 |
2018 |
|||||||||||||
Note | Restated* | Restated* | ||||||||||||||
Cash flows used in operating activities |
||||||||||||||||
Loss for the year |
( |
) |
( |
) |
( |
) | ||||||||||
Adjustments for: |
||||||||||||||||
• |
7,8,19 | |||||||||||||||
• |
8,10,19 | |||||||||||||||
• |
( |
) | ||||||||||||||
• |
20 | ( |
) | |||||||||||||
• |
19C,21 | — | — | |||||||||||||
• |
19A,19B | — | ( |
) | — | |||||||||||
• |
19A | ( |
) | ( |
) | — | ||||||||||
• |
16 | ( |
) | ( |
) | |||||||||||
• |
16 | ( |
) | ( |
) | |||||||||||
Cash flows used in operations before working capital changes |
( |
) |
( |
) |
( |
) | ||||||||||
(Increase)/decrease in trade and other receivables |
( |
) | ( |
) | ||||||||||||
Increase/(decrease) in trade and other payables |
( |
) | ||||||||||||||
(Increase) of inventory |
( |
) | ( |
) | ( |
) | ||||||||||
Cash flows used in operations |
( |
) |
( |
) |
( |
) | ||||||||||
Income tax and other taxes received/(paid) |
( |
) | ||||||||||||||
Interest received |
||||||||||||||||
Net cash used in operating activities |
( |
) |
( |
) |
( |
) | ||||||||||
Cash flows from investing activities |
||||||||||||||||
Acquisition of intangible assets and goodwill |
8 | ( |
) | ( |
) | ( |
) | |||||||||
Acquisition of property, plant and equipment |
7 | ( |
) | ( |
) | ( |
) | |||||||||
Grants received |
||||||||||||||||
Prepayments for tangible and intangible assets |
( |
) | ( |
) | ( |
) | ||||||||||
Cash received on acquisition of entities, net of consideration paid |
9 | — | ||||||||||||||
Proceeds from the sale of fixed assets |
— | — | ||||||||||||||
Loans granted |
— | ( |
) | ( |
) | |||||||||||
Net cash used in investing activities |
( |
) |
( |
) |
( |
) | ||||||||||
Cash flows from financing activities |
||||||||||||||||
Issuance of Preferred A shares |
13 | — | ||||||||||||||
Contribution of Kinetik to the share premium of the Company without the issuance of any shares |
13 | — | ||||||||||||||
Proceeds from borrowings |
— | — | ||||||||||||||
Repayment of borrowings |
( |
) | — | — | ||||||||||||
Repayment of interest |
( |
) | — | — | ||||||||||||
Repayment of lease liabilities |
15 | ( |
) | ( |
) | — | ||||||||||
Net cash from financing activities |
||||||||||||||||
Net increase/(decrease) in cash and cash equivalents |
( |
) |
( |
) | ||||||||||||
Cash and cash equivalents at January 1 |
12 | |||||||||||||||
Effects of movements in exchange rates on cash held |
( |
) | ||||||||||||||
Cash and cash equivalents at December 31 |
||||||||||||||||
* | Restated to reflect reclassification of cash flows described in note 2 |
Effective date |
New standards or amendments | |
January 1, 2020 |
Amendments to References to Conceptual Framework in IFRS Standards | |
IFRS 3 – Definition of a Business | ||
IAS 1 and IAS 8 – Definition of Material | ||
IFRS 9, IAS 39 and IFRS 7 – Interest rate benchmark Reform | ||
June 1, 2020 |
Amendments to IFRS 16 Leases COVID-19 – Related Rent Concessions | |
January 1, 2019 |
IFRIC 23 – Uncertainty over Tax Treatments | |
IFRS 16 – Leases | ||
IFRS 9 – Prepayments Features with Negative Compensation | ||
Annual improvements to IFRSs 2015-2017 Cycle (Amendments to IFRS3, IFRS 11, IAS 12 and IAS 23) |
• | IFRS 16 “Leases” |
In thousands of euro |
January 1, 2019 |
|||
The impact at transition |
||||
Right of use assets – property plant and equipment |
||||
Lease liability |
( |
) | ||
Retained earnings |
• | IFRS 16 “Leases” (continued) |
In thousands of euro |
||||
Lease liabilities at transition |
||||
Operating lease commitments at December 31, 2018 as disclosed under IAS 17 |
||||
Discounted using the incremental borrowing rate at January 1, 2019* |
||||
Lease liabilities recognised at January 1, 2019 |
* | When measuring lease liabilities for leases that were classified as operating leases, the Group discounted the lease payments using its incremental borrowing rate at January 1, 2019. The weighted average of the incremental borrowing rate applied to the lease liabilities was |
January 1, 2021 |
IFRS 9, IAS 39, IFRS 7, IFRS 4 and IFRS 16 – Interest Rate Benchmark Reform – Phase 2 | |
January 1, 2022 |
IFRS 3 – Amendments to References to Conceptual Framework | |
January 1, 2022 |
IAS 16 – Proceeds before intended use | |
January 1, 2022 |
IAS 37 – Cost of fulfilling a contract | |
January 1, 2023 |
IAS 1 – Classification of Liabilities as Current or Non-Current | |
January 1, 2023 |
IFRS 17 – Insurance Contracts | |
Available for optional adoption/effective date deferred indefinitely |
IFRS 10 and IAS 28 – Sale or Contribution of Assets between Investor and its Associate or Joint Venture |
a) | Subsidiary companies |
b) | Business combinations |
The Group |
Country of registration |
Participation in share capital |
Principal activity and status | |||||||||
2020 |
2019 |
|||||||||||
% |
% |
|||||||||||
Arrival Ltd |
% | % | ||||||||||
Arrival Nominees Ltd |
— | — | ||||||||||
Arrival Software Ltd |
— | % | ||||||||||
Sim-ply Designed Ltd |
— | — | ||||||||||
Arrival One Ltd |
— | — | ||||||||||
Arrival Robotics Ltd (previously named TRA Robotics Ltd) |
% | % | ||||||||||
Arrival R Ltd (previously named Roborace Ltd) |
% | % | ||||||||||
Arrival M Ltd (previously named Cybernation Ltd) |
— | % | ||||||||||
Arrival Jet Ltd |
% | % | ||||||||||
Arrival Elements Ltd |
— | % | ||||||||||
Roborace Ltd |
% | — | ||||||||||
Arrival Management Systems Ltd |
— | % |
b) |
Business combinations (continued) |
The Group |
Country of registration |
Participation in share capital |
Principal activity and status | |||||||||
2020 |
2019 |
|||||||||||
% |
% |
|||||||||||
Arrival Automotive UK Ltd |
% | % | ||||||||||
Arrival Solutions UK Ltd |
% | — | ||||||||||
Arrival Mobility Ltd |
% | % | ||||||||||
Arrival Vault UK Ltd |
% | — | ||||||||||
Arrival Elements B.V. |
% | % | ||||||||||
Arrival USA Inc (previously named Roborace Inc) |
% | % | ||||||||||
Arrival Automotive USA Inc |
% | % | ||||||||||
ARSNL Merger Sub Inc |
% | — | ||||||||||
Roborace Inc |
% | — | ||||||||||
Arrival Solutions USA Inc |
% | — | ||||||||||
Arrival Automotive PTE Ltd |
% | % | ||||||||||
Arrival RUS LLC (previously named Arrival Software LLC) |
% | % | ||||||||||
Arrival Robotics LLC (previously named TRA Robotics LLC) |
% | % | ||||||||||
Arrival Germany GmbH |
% | % | ||||||||||
Arrival Automotive Germany GmbH |
% | % | ||||||||||
Arrival Solutions Germany GmbH (previously named Cybernation Germany GmbH) |
% | — | ||||||||||
Arrival Israel Ltd |
% | % | ||||||||||
Arrival LT UAB |
% | — | ||||||||||
Arrival (previously named Arrival Group S.A.) |
% | — |
c) | Transactions eliminated at consolidation |
1. | Foreign currency transactions |
2. | Foreign operations |
Consolidated Balance Sheet Closing rates |
Consolidated Statement of profit or (loss) and other comprehensive (loss)/income Average rates |
|||||||||||||||||||||
2020 | 2019 | 2020 | 2019 | 2018 | ||||||||||||||||||
British Pounds |
GBP | |||||||||||||||||||||
Russian Rubles |
RUB | |||||||||||||||||||||
US Dollar |
USD | |||||||||||||||||||||
Singapore Dollar |
SGD | |||||||||||||||||||||
Israeli Shekel |
ILS | — |
Depreciation method | Depreciation Rate | |||||||
Plant and machinery |
% | |||||||
Furniture & Fittings |
% | |||||||
Computer equipment |
% | |||||||
Motor vehicles |
% |
Amortisation method | Amortisation Rate | |||
Trademarks and Patents | ||||
Software | period which any licenses cover |
— | Level 1: quoted prices (unadjusted) in active markets for identical assets or liabilities. |
— | Level 2: inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly (i.e. as prices) or indirectly (i.e. derived from prices). |
— | Level 3: inputs for the asset or liability that are not based on observable market data (unobservable inputs). |
1. | Definition of a lease |
2. | Leased assets |
2. | Leased assets (continued) |
• | fixed payments, including in-substance fixed payments, less any lease incentives receivable; and |
• | amounts expected to be payable under a residual value guarantee. |
3. | Short-term leases and leases of low-value assets |
Determining |
whether an arrangement contains a lease |
Determining |
whether an arrangement contains a lease (continued) |
Change required for carrying amount to equal recoverable amount |
||||
Weighted average cost of capital |
% | |||
Product growth rate |
% |
December 31, 2020 | ||||||||
Increase | Decrease | |||||||
Resign before one year ( |
||||||||
Resign before the milestone dates ( |
( |
) | ||||||
Milestones be achieved ( |
( |
) |
December 31, 2020 | ||||||||
Increase | Decrease | |||||||
Repayment of loans ( |
( |
) | ||||||
Discount rate ( |
( |
) | ||||||
Annual increase in savings ( |
( |
) | ||||||
Initial savings ( |
( |
) | ||||||
Volatility ( |
( |
) |
• | Liquidity risk |
• | Credit risk |
• | Market risk |
2020 |
2019 |
2018 |
||||||||||
EUR/USD |
( |
%) | % | ( |
%) | |||||||
EUR/GBP |
( |
%) | % | ( |
%) | |||||||
EUR/RUB |
( |
%) | % | ( |
%) | |||||||
EUR/ILS |
% | % | — |
1. | Operational risk |
2. | Compliance risk |
3. | Legal risk |
4. | Risk due to the COVID-19 pandemic |
5. | Risk due to Brexit |
• | Capitalised development costs – These assets are in relation to projects that will deliver value via electric vehicle production and services for these vehicles starting in 2022. We do not consider that there is any impairment as 1) this extends into the period during which the pandemic is likely to have ended, 2) we anticipate that demand for Arrival’s electric vehicles to be largely unimpacted by the pandemic. |
• | The Group’s right-of-use COVID-19 as we continue to plan to build micro-factories in these locations. As the activities of the Group has continued to grow over 2020 this required us to lease additional premises in UK, USA, Russia, Lithuania, Israel and Germany. As the real estate market has been impacted by COVID-19, this presented us with the opportunity to enter into favourable lease agreements. |
In thousands of euro |
Land and Buildings* |
Plant and Equipment |
Furniture and fittings |
Motor Vehicles |
Assets under Construction** |
TOTAL |
||||||||||||||||||
Cost |
||||||||||||||||||||||||
At January 1, 2020 |
||||||||||||||||||||||||
Additions |
||||||||||||||||||||||||
Disposals |
( |
) | ( |
) | ( |
) | ||||||||||||||||||
Modification of lease*** |
||||||||||||||||||||||||
Additions through business combinations under common control |
||||||||||||||||||||||||
Transfers |
( |
) | ( |
) | ||||||||||||||||||||
Additions through business combinations |
||||||||||||||||||||||||
Foreign exchange differences |
( |
) | ( |
) | ( |
) | ( |
) | ( |
) | ||||||||||||||
At December 31, 2020 |
||||||||||||||||||||||||
Depreciation/impairment |
||||||||||||||||||||||||
At January 1, 2020 |
( |
) | ( |
) | ( |
) | ( |
) | ( |
) | ||||||||||||||
Additions through business combinations under common control |
( |
) | ( |
) | ( |
) | ( |
) | ||||||||||||||||
Depreciation |
( |
) | ( |
) | ( |
) | ( |
) | ( |
) | ||||||||||||||
Modification of lease*** |
||||||||||||||||||||||||
Transfers |
||||||||||||||||||||||||
Impairment |
( |
) | ( |
) | ||||||||||||||||||||
Disposal |
||||||||||||||||||||||||
Foreign exchange differences |
||||||||||||||||||||||||
In thousands of euro |
Land and Buildings* |
Plant and Equipment |
Furniture and fittings |
Motor Vehicles |
Assets under Construction** |
TOTAL |
||||||||||||||||||
At December 31, 2020 |
( |
) | ( |
) | ( |
) | ( |
) | ( |
) | ||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
Net book Value |
||||||||||||||||||||||||
At January 1, 2020 |
||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
At December 31, 2020 |
||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
Cost |
||||||||||||||||||||||||
At January 1, 2019 |
||||||||||||||||||||||||
Recognition of right-of-use |
||||||||||||||||||||||||
Additions |
||||||||||||||||||||||||
Disposals |
( |
) | ( |
) | ( |
) | ( |
) | ( |
) | ||||||||||||||
Modification of lease |
||||||||||||||||||||||||
Additions through business combinations under common control |
||||||||||||||||||||||||
Foreign exchange differences |
||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
At December 31, 2019 |
||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
Depreciation/impairment |
||||||||||||||||||||||||
At January 1, 2019 |
( |
) | ( |
) | ( |
) | ( |
) | ||||||||||||||||
Recognition of right-of-use |
( |
) | ( |
) | ||||||||||||||||||||
Additions through business combinations under common control |
( |
) | ( |
) | ( |
) | ( |
) | ( |
) | ||||||||||||||
Depreciation |
( |
) | ( |
) | ( |
) | ( |
) | ( |
) | ||||||||||||||
Modification of lease |
||||||||||||||||||||||||
Disposal |
||||||||||||||||||||||||
Foreign exchange differences |
( |
) | ( |
) | ( |
) | ( |
) | ( |
) | ||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
At December 31, 2019 |
( |
) | ( |
) | ( |
) | ( |
) | ( |
) | ||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
Net book Value |
||||||||||||||||||||||||
At January 1, 2019 |
||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
At December 31, 2019 |
||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
In thousands of euro |
Plant and Equipment |
Furniture and fittings |
Motor Vehicles |
Assets under Construction |
TOTAL |
|||||||||||||||
Cost |
||||||||||||||||||||
At January 1, 2018 |
||||||||||||||||||||
Additions |
||||||||||||||||||||
Reclassification |
( |
) | ||||||||||||||||||
Foreign exchange differences |
( |
) | ( |
) | ( |
) | ( |
) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
At December 31, 2018 |
||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Depreciation/impairment |
||||||||||||||||||||
At January 1, 2018 |
( |
) | ( |
) | ( |
) | ( |
) | ||||||||||||
Depreciation |
( |
) | ( |
) | ( |
) | ( |
) | ||||||||||||
Reclassification |
||||||||||||||||||||
Impairment |
||||||||||||||||||||
Foreign exchange differences |
||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
At December 31, 2018 |
( |
) | ( |
) | ( |
) | ( |
) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
* | Land and Building comprise of leased buildings and leasehold improvements. The cost of leased buildings amounts to EUR |
** | Assets under construction classified under property, plant and equipment are assets bought and/or lease hold improvements that are not ready for use. |
*** | During 2020, the Group has entered a number of new leases and amended several existing agreements. The Group has entered into |
In thousands of euro |
Goodwill |
Assets under construction**** |
Patent, trademarks and other rights |
Software |
TOTAL |
|||||||||||||||
Cost |
||||||||||||||||||||
At January 1, 2020 |
||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Additions |
— | |||||||||||||||||||
Additions through business combinations under common control |
— | — | — | |||||||||||||||||
Additions through business combinations |
— | — | — | |||||||||||||||||
Transfer |
( |
) | — | — | — | ( |
) | |||||||||||||
Disposal |
— | — | — | ( |
) | ( |
) | |||||||||||||
Foreign exchange differences |
— | ( |
) | ( |
) | ( |
) | |||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
At December 31, 2020 |
||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Amortisation/impairment |
||||||||||||||||||||
At January 1, 2020 |
( |
) | ( |
) | ( |
) | ( |
) | ( |
) | ||||||||||
Amortisation |
— | — | ( |
) | ( |
) | ( |
) | ||||||||||||
Additions through business combinations under common control |
— | — | ( |
) | — | ( |
) | |||||||||||||
Transfer |
— | — | — | |||||||||||||||||
Disposal |
— | — | — | |||||||||||||||||
Impairment |
— | ( |
) | — | — | ( |
) | |||||||||||||
Foreign exchange differences |
— | — | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
At December 31, 2020 |
( |
) | ( |
) | ( |
) | ( |
) | ( |
) | ||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Net book Value |
||||||||||||||||||||
At January 1, 2020 |
— | |||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
At December 31, 2020 |
||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
In thousands of euro |
Goodwill |
Assets under construction**** |
Patent, trademarks and other rights |
Software |
TOTAL |
|||||||||||||||
Cost |
||||||||||||||||||||
At January 1, 2019 |
||||||||||||||||||||
Additions |
— | |||||||||||||||||||
Additions through business combinations under common control |
— | |||||||||||||||||||
Disposal |
— | ( |
) | ( |
) | — | ( |
) | ||||||||||||
Foreign exchange differences |
— | |||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
At December 31, 2019 |
||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
In thousands of euro |
Goodwill |
Assets under construction**** |
Patent, trademarks and other rights |
Software |
TOTAL |
|||||||||||||||
Amortisation/impairment |
||||||||||||||||||||
At January 1, 2019 |
( |
) | ( |
) | ( |
) | ( |
) | ( |
) | ||||||||||
Amortisation |
— | — | ( |
) | ( |
) | ( |
) | ||||||||||||
Additions through business combinations under common control |
— | ( |
) | ( |
) | ( |
) | ( |
) | |||||||||||
Disposal |
— | — | — | |||||||||||||||||
Impairment |
( |
) | ( |
) | — | — | ( |
) | ||||||||||||
Foreign exchange differences |
— | ( |
) | ( |
) | ( |
) | ( |
) | |||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
At December 31, 2019 |
( |
) | ( |
) | ( |
) | ( |
) | ( |
) | ||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Net book Value |
||||||||||||||||||||
At January 1, 2019 |
— | |||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
At December 31, 2019 |
— | |||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Cost |
||||||||||||||||||||
At January 1, 2018 |
— | |||||||||||||||||||
Additions |
— | |||||||||||||||||||
Foreign exchange differences |
— | ( |
) | ( |
) | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
At December 31, 2018 |
||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Amortisation/impairment |
||||||||||||||||||||
At January 1, 2018 |
( |
) | ( |
) | — | ( |
) | ( |
) | |||||||||||
Amortisation |
— | — | ( |
) | ( |
) | ( |
) | ||||||||||||
Impairment |
— | ( |
) | — | — | ( |
) | |||||||||||||
Foreign exchange differences |
— | — | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
At December 31, 2018 |
( |
) | ( |
) | ( |
) | ( |
) | ( |
) | ||||||||||
|
|
|
|
|
|
|
|
|
|
a. | The identifiable net assets acquired and liabilities recognised on acquisition were: |
In thousands of euro |
Note |
|||||||
Property, plant and equipment |
7 | |||||||
Intangible assets |
8 | |||||||
Trade and other receivables |
||||||||
Cash and cash equivalent |
||||||||
Lease liabilities |
( |
) | ||||||
Deferred tax |
( |
) | ||||||
Trade and other payables |
( |
) | ||||||
|
|
|||||||
Total |
( |
) | ||||||
|
|
b. | Measurement of fair values |
Assets acquired |
Valuation technique | |
-Property, plant and equipment |
Market comparison technique and cost technique was applied to all assets acquired. The valuation model considers market prices for similar items. |
c. | Goodwill: |
In thousands of euro |
Note |
|||||||
Consideration transferred |
||||||||
Fair value of identifiable net assets |
||||||||
|
|
|||||||
Goodwill |
||||||||
|
|
B. | Business combinations under common control |
B. | Business combinations under common control (continued) |
2020 |
2019 |
|||||||
In thousands of euro |
||||||||
Loans receivable |
||||||||
Other |
||||||||
Call deposit |
||||||||
Cash Guarantees and deposits |
||||||||
|
|
|
|
|||||
Total |
||||||||
|
|
|
|
• | The assets are held within a business model whose objective is to collect the contractual cash flows and |
• | The contractual terms give rise to cash flows that are solely payments of principal and interest. |
2020 |
2019 |
|||||||
In thousands of euro |
||||||||
VAT receivable |
||||||||
Tax receivable |
||||||||
Call deposit |
||||||||
Deferred charges |
||||||||
Loans receivable |
||||||||
Impairment of other receivables |
( |
) | ||||||
Other receivables |
||||||||
Total |
||||||||
In thousands of euro |
2020 |
2019 |
||||||
Raw materials and consumables |
||||||||
Inventory |
||||||||
In thousands of euro |
2020 |
2019 |
||||||
Bank balances |
||||||||
Total |
||||||||
A. |
Share capital |
In thousands of shares |
2020 |
2019 |
||||||
Authorised |
||||||||
Ordinary shares (nominal value 2019: EUR 0.25) |
||||||||
Preferred A shares (nominal value EUR 0.25) |
In thousands of euro |
||||||||
Ordinary shares issued and fully paid |
||||||||
Ordinary shares as of January 1 |
||||||||
Contribution of ordinary shares by Kinetik S.à r.l. |
( |
) | ||||||
Treasury shares |
||||||||
Shares sold to RSP Scheme Members |
||||||||
Contribution from share premium |
||||||||
Ordinary shares issued and fully paid as of December 31 |
||||||||
Preferred A shares issued and fully paid |
||||||||
Preferred A shares as of January 1 |
||||||||
Issue of Preferred A shares |
||||||||
Preferred A shares issued and fully paid as of December 31 |
||||||||
Total share capital December 31 |
||||||||
A. |
Share capital |
A. |
Share capital |
In thousands of euro |
||||
January 1, 2019 |
||||
Additions |
||||
Contribution to share capital |
( |
) | ||
December 31, 2019 |
||||
January 1, 2020 |
||||
Additions |
||||
December 31, 2020 |
||||
1. |
Other Comprehensive Income accumulated in reserves, net of tax |
In thousands of euro |
||||
January 1, 2018 |
||||
Foreign operations – foreign currency translation differences |
( |
) | ||
December 31, 2018 |
||||
January 1, 2019 |
||||
Foreign operations – foreign currency translation differences |
||||
December 31, 2019 |
||||
January 1, 2020 |
||||
Foreign operations – foreign currency translation differences |
( |
) | ||
December 31 2020 |
( |
) | ||
2. |
Equity Reserves |
In thousands of euro |
||||
January 1, 2020 |
||||
Treasury shares acquired by the employees of the Group |
||||
Equity-settled Share Plan to employees |
||||
December 31 2020 |
||||
A. | Basic earnings per share |
i. | (Loss) attributable to Ordinary shareholders: |
In thousands of euro |
2020 |
2019 |
2018 |
|||||||||||||||||||||
Continuing operations |
Total |
Continuing operations |
Total |
Continuing operations |
Total |
|||||||||||||||||||
(Loss) for the year, attributable to the owners of the Company (basic) |
( |
) | ( |
) | ( |
) | ( |
) | ( |
) | ( |
) |
In thousands of shares |
2020 |
2019 |
2018 |
|||||||||
Ordinary shares as at January 1 |
||||||||||||
Share split |
— | |||||||||||
Conversion of distributable reserves into shares |
— | |||||||||||
Treasury shares and RSP 2020 shares |
( |
) | — | — | ||||||||
RSP shares vested |
— | — | ||||||||||
Weighted-average number of Ordinary and Preferred A shares as at December 31 |
||||||||||||
A. |
Diluted earnings per share |
i. | (Loss) attributable to Ordinary and Preferred A shares (diluted) |
In thousands of euro |
2020 |
2019 |
2018 |
|||||||||||||||||||||
Continuing operations |
Total |
Continuing operations |
Total |
Continuing operations |
Total |
|||||||||||||||||||
(Loss) for the year, attributable to the owners of the Company (basic) |
( |
) | ( |
) | ( |
) | ( |
) | ( |
) | ( |
) |
ii. | Weighted-average number of Ordinary and Preferred A shares |
In thousands of shares |
2020 |
2019 |
2018 |
|||||||||
Ordinary and Preferred A shares as at January 1 |
||||||||||||
Share split |
— | |||||||||||
Conversion of distributable reserves into shares |
— | |||||||||||
Treasury shares and RSP 2020 shares |
( |
) | — | — | ||||||||
RSP shared vested |
— | — | ||||||||||
Issue of Preference A shares |
— | |||||||||||
Weighted-average number of Ordinary and Preferred A shares as at December 31 |
||||||||||||
In thousands of euro |
Liabilities Lease liabilities |
Total |
||||||
January 1, 2020 |
||||||||
Changes from financing cash flows |
||||||||
Payment of lease liabilities |
( |
) | ( |
) | ||||
Payment of interest |
( |
) | ( |
) | ||||
Total hanges from financing cash flows |
( |
) |
( |
) | ||||
The effects of changes in foreign exchange rates |
( |
) |
( |
) | ||||
Other changes |
||||||||
Interest on leases |
||||||||
New and modification of leases |
||||||||
Total of other changes |
||||||||
December 31, 2020 |
||||||||
January 1, 2019 |
||||||||
Changes from financing cash flows |
||||||||
Payment of lease liabilities |
( |
) | ( |
) | ||||
Payment of interest |
( |
) | ( |
) | ||||
Total hanges from financing cash flows |
( |
) |
( |
) | ||||
The effects of changes in foreign exchange rates |
||||||||
Other changes |
||||||||
New and modification of leases |
||||||||
Total of other changes |
||||||||
December 31, 2019 |
||||||||
In thousands of euro |
2020 |
2019 |
||||||
Non-current lease liabilities |
||||||||
Lease liability |
||||||||
Total non-current lease liabilities |
||||||||
Current lease liabilities |
||||||||
Current portion of lease liabilities |
||||||||
Total current loans and borrowings |
||||||||
In thousands of euro |
Carrying amount |
Total | Within one year |
Between 1 and 5 years |
More than 5 years |
|||||||||||||||
December 31, 2020 |
||||||||||||||||||||
Leases |
||||||||||||||||||||
December 31, 2019 |
||||||||||||||||||||
Leases |
In thousands of euro |
2020 |
2019 |
||||||
Amounts recognised in consolidated statement of profit or loss and other comprehensive (loss)/income |
||||||||
Interest on lease liability |
||||||||
Expenses relating to short-term leases and low value leases |
||||||||
Amount recognised in the statement of cash flows |
||||||||
Total cash outflow for leases |
||||||||
In thousands of euro |
2020 |
2019 |
2018 |
|||||||||
Current tax |
||||||||||||
Current year |
( |
) | ( |
) | ( |
) | ||||||
Other taxes |
( |
) | ( |
) | ( |
) | ||||||
True up adjustments for taxes for prior years |
— | |||||||||||
Total current tax income |
( |
) | ||||||||||
Deferred tax |
||||||||||||
True up adjustments for taxes for prior years |
— | |||||||||||
Relating to origination and reversal of temporary differences |
( |
) | ||||||||||
Total deferred tax |
( |
) |
||||||||||
Total tax income recognised in consolidated statement of profit or loss and other comprehensive (loss)/income |
||||||||||||
In thousands of euro |
2020 |
2019 |
||||||
Asset |
||||||||
Accruals |
— | |||||||
Tax losses |
||||||||
Other |
||||||||
In thousands of euro |
2020 |
2019 |
||||||
Liabilities |
||||||||
Tangible and Intangible fixed assets |
( |
) | ( |
) | ||||
( |
) |
( |
) | |||||
Net deferred tax |
( |
) |
||||||
In thousands of euro |
2020 |
2019 |
||||||
Tax losses |
||||||||
Share options |
— | |||||||
Tangible and Intangible fixed assets |
— | |||||||
Other temporary differences |
— | |||||||
Total |
||||||||
2020 |
2019 |
2018 |
||||||||||||||||||||||
In thousands of euro |
Gross amount |
Tax effect |
Gross amount |
Tax effect |
Gross amount |
Tax effect |
||||||||||||||||||
Tax losses |
In thousands of euro |
2020 |
2019 |
2018 |
|||||||||
Expiry 2021 - 2037 |
||||||||||||
No expiry |
In thousands of euro |
2020 |
2020 |
2019 |
2019 |
2018 |
2018 |
||||||||||||||||||
Loss before tax from continuing operations |
( |
) | ( |
) | ( |
) | ||||||||||||||||||
Tax rate using the Company’s domestic tax rate |
% | ( |
) | % | ( |
) | 1 | % | ( |
) | ||||||||||||||
Effect of tax rates in foreign jurisdictions |
( |
%) | ( |
%) | ( |
%) | ||||||||||||||||||
Non-deductible expenses |
( |
%) | ( |
%) | ( |
%) | ||||||||||||||||||
Tax exempt income/tax incentives |
% | ( |
) | % | ( |
) | % | ( |
) | |||||||||||||||
Current year losses for which no deferred tax asset is recognised |
( |
%) | ( |
%) | ( |
%) | ||||||||||||||||||
True up adjustments for taxes for prior years* |
% | ( |
) | % | ( |
) | % | ( |
) | |||||||||||||||
Other domestic taxes |
( |
%) | ( |
%) | ( |
%) | ||||||||||||||||||
Income tax income |
% | ( |
) |
% | ( |
) |
( |
) | ||||||||||||||||
* | True up adjustment for taxes for prior years relate to changes in estimates to UK R&D claims for prior periods, which were calculated and submitted in 2020. |
2020 |
2019 |
|||||||
Current liabilities |
||||||||
Trade payables |
||||||||
Accrued expenses |
||||||||
Other payables |
||||||||
In thousands of euro |
Note | Financial Assets at amortised cost |
Total | Fair Value |
Level in the fair value hierarchy |
|||||||||||||||
December 31, 2020 |
||||||||||||||||||||
Loan receivables |
10 | 3 | ||||||||||||||||||
Cash guarantees and deposits |
10 | — | 1 | |||||||||||||||||
December 31, 2019 |
||||||||||||||||||||
Cash guarantees and deposits |
10 | — | 1 |
In thousands of euro |
2020 |
2019 |
2018 |
|||||||||
A. Other income |
||||||||||||
Government grants |
||||||||||||
Gain on disposal of fixed assets |
— | |||||||||||
Gain from modification of lease |
— | |||||||||||
Other income |
||||||||||||
Total other income |
||||||||||||
B. Other expenses |
||||||||||||
Impairment of receivable |
( |
) |
— |
|||||||||
Loss on disposal of fixed assets |
( |
) | ( |
) | — | |||||||
Other charges |
( |
) | ( |
) | ( |
) | ||||||
Total other expenses |
( |
) |
( |
) |
( |
) | ||||||
In thousands of euro |
2020 |
2019 |
2018 |
|||||||||
C. Expenses by nature |
||||||||||||
Depreciation |
( |
) | ( |
) | ( |
) | ||||||
Impairment of intangible assets and receivable |
( |
) | ( |
) | ( |
) | ||||||
Wages and salaries |
( |
) | ( |
) | ( |
) | ||||||
Consultancy fees |
( |
) | ( |
) | ( |
) | ||||||
Contractors |
( |
) | ( |
) | ( |
) | ||||||
Rent and property utilities |
( |
) | ( |
) | ( |
) | ||||||
Legal fees |
( |
) | ( |
) | ( |
) | ||||||
Employee share scheme |
( |
) | ||||||||||
Raw material and consumables |
( |
) | ( |
) | ( |
) | ||||||
Marketing |
( |
) | ( |
) | ( |
) | ||||||
Recruitment fees |
( |
) | ( |
) | ( |
) | ||||||
Travel expenses and accommodation |
( |
) | ( |
) | ( |
) | ||||||
Fees payable to the Company’s auditors for the 2020 audit of the Company’s annual accounts |
( |
) | ||||||||||
Fees payable to the Company’s auditors for the prior year audits of the Company’s annual accounts |
( |
) | ( |
) | ( |
) | ||||||
Fees payable to the Company’s auditors for other services |
( |
) | ( |
) | ( |
) | ||||||
Other |
( |
) | ( |
) | ( |
) | ||||||
Total cost of administrative, research and development and impairment expenses |
( |
) |
( |
) |
( |
) | ||||||
In thousands of euro |
2020 |
2019 |
2018 |
|||||||||
Finance income |
||||||||||||
Foreign exchange differences |
||||||||||||
Interest receivable |
||||||||||||
Total finance income |
||||||||||||
Finance cost |
||||||||||||
Bank charges |
( |
) | ( |
) | ( |
) | ||||||
Interest payable |
( |
) | ( |
) | ||||||||
Interest on leases |
( |
) | ( |
) | ||||||||
Foreign exchange differences |
( |
) | ( |
) | ||||||||
Total finance cost |
( |
) |
( |
) |
( |
) | ||||||
2020 |
RSP |
SOP |
||||||
Weighted average fair value at grant date |
||||||||
Share price of Preferred A shares based on transactions occurred at the same time of the issues of the scheme |
||||||||
Exercise price |
||||||||
Contractual life of the options |
In thousands |
SOP |
|||
2020 |
||||
Outstanding at the beginning of the year |
||||
Granted during the year |
||||
Exercised during the year |
||||
Expired during the year |
||||
Forfeited during the year |
||||
Outstanding at the end of the year |
||||
Exercisable at the end of the year |
Input |
IPO |
Delayed exit |
Justification | |||
Valuation date |
This is the date that the option scheme was communicated to the employees and the date that management has made an estimation of the valuation of the scheme. Given the short time elapsed between the valuation date and the date that the actual agreements were signed management does not consider there to be any material change in value across the valuation date and the date the agreements have been signed (grant date). | |||||
Risk free rate |
Risk free rates are taken from yields on UK government bonds for corresponding periods to the exit dates for each valuation event. Rates are linearly interpolated from yields for bonds with the closest available maturities. Where negative, rates have been capped at 0%. | |||||
Dividend yield |
No dividend is anticipated to be paid prior to an exit event. SOPs are not entitled to dividends but RSPs are. | |||||
Expected volatility |
Based on the average observed volatility in the equity value of listed comparable companies over a historic period commensurate with the expected exit date | |||||
Expected exit event |
Estimation as to when the exit event will occur | |||||
Scenario weighting |
This is the expected likelihood of the different exit routes as at the grant dates. We have assumed a one-year delay if the exit does not occur in early 2021. |
In thousands of euro |
Transactions for the year |
Balance outstanding |
||||||||||||||||||
Related party | 2020 |
2019 |
2018 |
December 31, 2020 |
December 31, 2019 |
|||||||||||||||
Arrival Management Systems LLC |
( |
) | ( |
) | ( |
) | ||||||||||||||
Arrival Solutions LLC |
( |
) | ( |
) | ||||||||||||||||
Shishkov Rodion |
||||||||||||||||||||
Studio S.à r.l. |
( |
) | ||||||||||||||||||
K Cybernation S.à r.l. |
( |
) | ||||||||||||||||||
K Robolife S.à r.l. |
( |
) | ( |
) | ||||||||||||||||
Kinetik S.à r.l. |
( |
) | ( |
) | ( |
) | ||||||||||||||
Charge Cars Ltd |
( |
) | ||||||||||||||||||
Smart Space LLC |
( |
) | ( |
) | ||||||||||||||||
Smekalka LLC |
( |
) | ||||||||||||||||||
Experiment X Ltd |
( |
) | ||||||||||||||||||
Happy Electron Ltd |
( |
) | ||||||||||||||||||
Cybernation Ltd |
( |
) | ||||||||||||||||||
Remy Robotics LLC |
||||||||||||||||||||
Denis Sverdlov |
In thousands of euro |
Transactions for the year |
|||||||||||
Key Management personnel |
2020 |
2019 |
2018 |
|||||||||
Wages and salaries |
||||||||||||
Social contributions |
||||||||||||
Other benefits |
||||||||||||
Other earnings |
||||||||||||
RSP loans |
||||||||||||
SOP expense |
Name | Nominal Amount | Fair Value of December 31, (see note 10A.iii) |
||||||
In thousands of euro |
||||||||
Tim Holbrow |
||||||||
Avinash Rugoobur |
||||||||
Mike Ableson |
||||||||
Daniel Chin |
||||||||
Total |
||||||||
In thousands of euro |
Personnel cost |
|||||||||||
2020 |
2019 |
2018 |
||||||||||
UK |
||||||||||||
Russia |
||||||||||||
US |
||||||||||||
Germany |
||||||||||||
Israel |
||||||||||||
Other |
||||||||||||
Page | ||
F-58 | ||
F-59 | ||
F-60 | ||
F-61 | ||
F-62 | ||
F-63 - F-69 |
In thousands of euro |
October 27, 2020 to December 31, 2020 |
|||||
Note | ||||||
Continuing Operations |
||||||
Administrative expenses |
8 | ( |
) | |||
Legal Expenses |
8 | ( |
) | |||
Operating loss |
( |
) | ||||
Loss for the period |
( |
) | ||||
Attributable to: |
||||||
Owners of the Company |
( |
) | ||||
Earnings per share (presented in euro) |
||||||
Basic earnings per share |
( |
) | ||||
Diluted earnings per share |
( |
) |
Loss for the period |
( |
) | ||||||
Total comprehensive loss for the period |
( |
) | ||||||
In thousands of euro |
Note | 2020 |
||||
ASSETS |
||||||
Current Assets |
||||||
Cash and cash equivalents |
4 | |||||
Total Current Assets |
||||||
TOTAL ASSETS |
||||||
EQUITY AND LIABILITIES |
||||||
Capital and reserves |
||||||
Share capital |
5 | |||||
Accumulated deficit |
( |
) | ||||
Total Equity |
( |
) | ||||
Current Liabilities |
||||||
Trade and other payables |
7 | |||||
Total Current Liabilities |
||||||
TOTAL EQUITY AND LIABILITIES |
||||||
In thousands of euro |
Note |
Share capital |
Accumulated deficit |
Total equity |
||||||||||||
Balance at October 27, 2020 |
||||||||||||||||
Loss for the period |
— | ( |
) | ( |
) | |||||||||||
Transactions with shareholders |
— |
( |
) |
( |
) | |||||||||||
Capital increase |
5 | — | ||||||||||||||
Balance at December 31, 2020 |
( |
) |
( |
) | ||||||||||||
In thousands of euro |
Note | October 27 to December 31, 2020 |
||||||
Cash flows used in operating activities |
||||||||
Loss for the period |
( |
) | ||||||
Increase in trade and other payables |
7 | |||||||
Net cash used in operating activities |
( |
) | ||||||
Cash flows from financing activities |
||||||||
Capital increase |
5 | |||||||
Net cash from financing activities |
||||||||
Net increase in cash and cash equivalents |
||||||||
Cash and cash equivalents as at October 27, 2020 |
— | |||||||
Cash and cash equivalents at December 31 |
||||||||
January 1, 2021 | IFRS 9, IAS 39, IFRS 7, IFRS 4 and IFRS 16 – Interest Rate Benchmark Reform – Phase 2 | |
January 1, 2022 | IFRS 3 – Amendments to References to Conceptual Framework | |
January 1, 2022 | IAS 16 – Proceeds before intended use | |
January 1, 2022 | IAS 37 – Cost of fulfilling a contract | |
January 1, 2023 | IAS 1 – Classification of Liabilities as Current or Non-Current | |
January 1, 2023 | IFRS 17 – Insurance Contracts | |
Available for optional adoption/effective date deferred indefinitely |
IFRS 10 and IAS 28 – Sale or Contribution of Assets between Investor and its Associate or Joint Venture |
In thousands of euro |
2020 |
|||
Bank balances |
||||
Total |
||||
In thousands of shares |
2020 |
|||
Authorised |
||||
Ordinary shares |
||||
In thousands of euro |
||||
Ordinary shares issued and fully paid |
||||
Ordinary shares issued on October 27 |
||||
Ordinary shares issued and fully paid as of December 31 |
||||
In thousands of euro |
2020 |
|||
Tax losses |
( |
) | ||
Total |
( |
) | ||
2020 | ||||
In thousands of euro |
Gross amount |
Tax effect | ||
Tax losses |
In thousands of euro |
2020 |
|||
Expiry in 2037 |
In thousands of euro |
2020 |
|||||||
Loss before tax from continuing operations |
( |
) | ||||||
Tax rate using the Company’s domestic tax rate |
% | ( |
) | |||||
Current year losses for which no deferred tax asset is recognised |
( |
%) | ||||||
Income tax expense |
— |
|||||||
2020 |
||||
Current liabilities |
||||
Other payables and accrued expenses |
( |
) | ||
( |
) | |||
In thousands of euro |
2020 |
|||
Other |
( |
) | ||
Audit fees |
( |
) | ||
Legal fees |
( |
) | ||
Total other expenses |
( |
) | ||
Exhibit No. |
Description | |
1.1 |
||
2.1 |
||
2.2 |
||
2.3 |
||
2.4 |
||
2.5 |
||
4.1 # |
||
4.2 |
||
4.3 |
||
4.4 |
||
4.5 |
||
4.6 |
||
4.7 |
Exhibit No. |
Description | |
4.8 ## |
||
4.9 ## |
||
4.10 ## |
||
4.11 |
||
4.12 ##+ |
||
4.13 ##+ |
||
4.14 ##+ |
||
4.15 ##+ |
||
4.16 ##+ |
||
4.17 + |
||
4.18 + |
||
4.19 + |
||
4.20 + |
||
4.21 + |
||
4.22 + |
Exhibit No. |
Description | |
4.23 + |
||
4.24## |
||
4.25 ## |
||
4.26 ## |
||
4.27 ## |
||
8.1 ## |
||
12.1* |
||
12.2* |
||
13.1** |
||
13.2** |
||
15.1 |
||
15.2 |
||
101.INS* |
INLINE XBRL Instance Document. | |
101.SCH* |
INLINE XBRL Taxonomy Extension Schema Document. | |
101.DEF* |
INLINE XBRL Taxonomy Extension Calculation Linkbase Document. | |
101.CAL* |
INLINE XBRL Taxonomy Extension Definition Linkbase Document. | |
101.LAB* |
INLINE XBRL Taxonomy Extension Label Linkbase Document. | |
101.PRE* |
INLINE XBRL Taxonomy Extension Presentation Linkbase Document. |
* |
Filed herewith. |
** |
Furnished herewith. |
# |
Certain schedules, annexes and exhibits have been omitted pursuant to Item 601(b)(2) of Regulation S-K, but will be furnished supplementally to the SEC upon request. |
## |
Certain confidential portions of this exhibit were omitted by means of marking such portions with brackets and asterisks because the identified confidential portions (i) are not material and (ii) would be competitively harmful if publicly disclosed, or constituted personally identifiable information that is not material. |
+ |
Management contract or compensatory plan or arrangement. |
August 11, 2021 |
ARRIVAL | |||||
By: |
/s/ Denis Sverdlov | |||||
Name: |
Denis Sverdlov | |||||
Title: |
Chief Executive Officer |