|
|
Full Year
2019
|
Full Year
2020
|
Increase/
(decrease)
|
|
US$’000
|
US$’000
|
%
|
|
Point-of-Care
|
11,393
|
9,215
|
(19.1%)
|
Clinical Laboratory
|
79,042
|
92,765
|
17.4%
|
Total
|
90,435
|
101,980
|
12.80%
|
$m
|
|
Operating Profit (before non-cash and once-off items)
|
20.3
|
Depreciation
|
1.7
|
Amortisation
|
1.4
|
Share option expense
|
0.8
|
EBITDASO
|
24.2
|
2019
Quarter 4
|
2020
Quarter 4
|
Increase/
(decrease)
|
|
US$’000
|
US$’000
|
%
|
|
Point-of-Care
|
2,172
|
2,548
|
17.3%
|
Clinical Laboratory
|
19,146
|
30,217
|
57.8%
|
Total
|
21,318
|
32,765
|
53.70%
|
$m
|
|
Operating Profit (before non-cash and once-off items)
|
9.1
|
Depreciation
|
0.5
|
Amortisation
|
0.2
|
Share option expense
|
0.3
|
EBITDASO
|
10.1
|
(US$000’s except share data)
|
Three Months
Ended
Dec 31,
2020
(unaudited)
|
Three Months
Ended
Dec 31,
2019
(unaudited)
|
Year
Ended
Dec 31,
2020
(unaudited)
|
Year
Ended
Dec 31,
2019
(unaudited)
|
||||||||||||
Revenues
|
32,765
|
21,318
|
101,980
|
90,435
|
||||||||||||
Cost of sales
|
(17,108
|
)
|
(12,044
|
)
|
(53,400
|
)
|
(52,315
|
)
|
||||||||
Gross profit
|
15,657
|
9,274
|
48,580
|
38,120
|
||||||||||||
Gross profit %
|
47.8
|
%
|
43.5
|
%
|
47.6
|
%
|
42.2
|
%
|
||||||||
Other operating income
|
1,841
|
24
|
1,860
|
91
|
||||||||||||
Research & development expenses
|
(1,284
|
)
|
(1,332
|
)
|
(5,080
|
)
|
(5,325
|
)
|
||||||||
Selling, general and administrative expenses
|
(6,872
|
)
|
(6,399
|
)
|
(24,234
|
)
|
(26,852
|
)
|
||||||||
Indirect share based payments
|
(276
|
)
|
(123
|
)
|
(780
|
)
|
(732
|
)
|
||||||||
Operating profit
|
9,066
|
1,444
|
20,346
|
5,302
|
||||||||||||
Financial income
|
-
|
88
|
36
|
464
|
||||||||||||
Financial expenses
|
(1,224
|
)
|
(1,239
|
)
|
(4,892
|
)
|
(4,945
|
)
|
||||||||
Net financing expense
|
(1,224
|
)
|
(1,151
|
)
|
(4,856
|
)
|
(4,481
|
)
|
||||||||
Profit before tax, non-cash & once-off items
|
7,842
|
293
|
15,490
|
821
|
||||||||||||
Income tax credit/(expense)
|
730
|
988
|
182
|
(4,887
|
)
|
|||||||||||
Profit / (loss) after tax before non-cash & once-off items
|
8,572 |
1,281 |
15,672 |
(4,066) |
||||||||||||
Non-cash financial expense
|
(820
|
)
|
(160
|
)
|
(1,859
|
)
|
(405
|
)
|
||||||||
Impairment & once-off items (net of tax)
|
(17,776
|
) |
(24,443
|
) |
(20,201
|
) |
(24,443
|
) |
||||||||
Loss after tax and once-off items
|
(10,024
|
)
|
(23,322
|
)
|
(6,388
|
)
|
(28,914
|
)
|
||||||||
Earnings/(Loss) per ADR (US cents)
|
(48.0
|
)
|
(111.6
|
)
|
(30.6
|
)
|
(138.3
|
)
|
||||||||
Earnings/(Loss) per ADR (US cents)**
|
41.0
|
6.1
|
75.0
|
(19.4
|
)
|
|||||||||||
Diluted earnings/(loss) per ADR (US cents)
|
(30.8
|
)*
|
(87.0
|
)*
|
(2.0
|
)*
|
(96.2
|
)*
|
||||||||
Diluted earnings/(loss) per ADR (US cents)**
|
35.9
|
9.0
|
*
|
74.9
|
(0.3
|
)*
|
||||||||||
Weighted average no. of ADRs used in computing basic earnings per ADR
|
20,901,703
|
20,901,703
|
20,901,703
|
20,901,703
|
||||||||||||
Weighted average no. of ADRs used in computing diluted earnings per ADR
|
26,663,066
|
25,467,516
|
26,256,183
|
25,467,516
|
Dec 31,
2020
US$ ‘000
(unaudited)
|
Sept 30,
2020
US$ ‘000
(unaudited)
|
June 30,
2020
US$ ‘000
(unaudited)
|
Dec 31,
2019
US$ ‘000
(unaudited)
|
|||||||||||||
ASSETS
|
||||||||||||||||
Non-current assets
|
||||||||||||||||
Property, plant and equipment
|
8,547
|
9,462
|
9,297
|
9,290
|
||||||||||||
Goodwill and intangible assets
|
33,860
|
47,876
|
46,751
|
43,654
|
||||||||||||
Deferred tax assets
|
4,185
|
5,981
|
6,613
|
6,252
|
||||||||||||
Other assets
|
355
|
387
|
378
|
485
|
||||||||||||
Total non-current assets
|
46,947
|
63,706
|
63,039
|
59,681
|
||||||||||||
Current assets
|
||||||||||||||||
Inventories
|
30,219
|
29,607
|
31,473
|
32,021
|
||||||||||||
Trade and other receivables
|
22,668
|
21,658
|
17,048
|
20,987
|
||||||||||||
Income tax receivable
|
3,086
|
1,194
|
1,598
|
1,982
|
||||||||||||
Cash and cash equivalents
|
27,327
|
19,910
|
15,570
|
16,400
|
||||||||||||
Total current assets
|
83,300
|
72,369
|
65,689
|
71,390
|
||||||||||||
TOTAL ASSETS
|
130,247
|
136,075
|
128,728
|
131,071
|
||||||||||||
EQUITY AND LIABILITIES
|
||||||||||||||||
Equity attributable to the equity holders of the parent
|
||||||||||||||||
Share capital
|
1,224
|
1,213
|
1,224
|
1,224
|
||||||||||||
Share premium
|
16,187
|
16,187
|
16,187
|
16,187
|
||||||||||||
Accumulated surplus
|
5,918
|
15,665
|
8,194
|
11,514
|
||||||||||||
Other reserves
|
(25,548
|
)
|
(25,994
|
)
|
(26,317
|
)
|
(24,212
|
)
|
||||||||
Total equity
|
(2,219
|
)
|
7,071
|
(712
|
)
|
4,713
|
||||||||||
Current liabilities
|
||||||||||||||||
Income tax payable
|
154
|
765
|
373
|
48
|
||||||||||||
Trade and other payables
|
26,488
|
22,281
|
22,327
|
19,351
|
||||||||||||
Provisions
|
416
|
50
|
50
|
50
|
||||||||||||
Total current liabilities
|
27,058
|
23,096
|
22,750
|
19,449
|
||||||||||||
Non-current liabilities
|
||||||||||||||||
Exchangeable senior note payable
|
83,884
|
83,063
|
82,902
|
82,025
|
||||||||||||
Other payables
|
16,619
|
16,786
|
16,531
|
17,745
|
||||||||||||
Deferred tax liabilities
|
4,905
|
6,059
|
7,257
|
7,139
|
||||||||||||
Total non-current liabilities
|
105,408
|
105,908
|
106,690
|
106,909
|
||||||||||||
TOTAL LIABILITIES
|
132,466
|
129,004
|
129,440
|
126,358
|
||||||||||||
TOTAL EQUITY AND LIABILITIES
|
130,247
|
136,075
|
128,728
|
131,071
|
Trinity Biotech plc
Consolidated Statement of Cash Flows
|
(US$000’s)
|
Three Months
|
Three Months
|
Year
|
Year
|
||||||||||||
Ended
|
Ended
|
Ended
|
Ended
|
|||||||||||||
Dec 31,
|
Dec 31,
|
Dec 31,
|
Dec 31,
|
|||||||||||||
2020
|
2019
|
2020
|
2019
|
|||||||||||||
(unaudited)
|
(unaudited)
|
(unaudited)
|
(unaudited)
|
|||||||||||||
Cash and cash equivalents at beginning of period
|
19,910
|
25,090
|
16,400
|
30,277
|
||||||||||||
Operating cash flows before changes in working capital
|
7,103
|
2,703
|
20,604
|
12,198
|
||||||||||||
Changes in working capital
|
10,164
|
(321
|
) |
7,688
|
(796
|
) |
||||||||||
Cash generated from operations
|
17,267
|
2,382
|
28,292
|
11,402
|
||||||||||||
Net Interest and Income taxes received/(paid)
|
(1,142
|
) |
(5,962
|
) |
(886
|
) |
(5,928
|
) | ||||||||
Capital Expenditure & Financing (net)
|
(3,615
|
) |
(2,325
|
) |
(10,435
|
) |
(12,295
|
) | ||||||||
Payments for leases (IFRS 16)
|
(670
|
) |
(787
|
) |
(3,031
|
) |
(3,060
|
) | ||||||||
Free cash flow
|
11,840
|
(6,692
|
) |
13,940
|
(9,881
|
) | ||||||||||
Payment of HIV/2 License Fee
|
-
|
-
|
(1,112
|
) |
-
|
|||||||||||
Once-off items
|
(2,425
|
) |
-
|
(2,425
|
) |
-
|
||||||||||
30 year Exchangeable Note interest payment
|
(1,998
|
) |
(1,998
|
) |
(3,996
|
) |
(3,996
|
) | ||||||||
Proceeds received under Paycheck Protection Program
|
-
|
-
|
4,520
|
-
|
||||||||||||
Cash and cash equivalents at end of period
|
27,327
|
16,400
|
27,327
|
16,400
|
The above financial statements have been prepared in accordance with the principles of International Financial Reporting Standards and the Company’s accounting policies but do not constitute
an interim financial report as defined in IAS 34 (Interim Financial Reporting).
|
|
TRINITY BIOTECH PLC
(Registrant)
By: /s/John Gillard
John Gillard
Chief Financial Officer
|