Nightingale Health Plc: Unaudited financial information in accordance with IFRS for the comparative half-year periods
Company release, 22 March 2023 at 12 p.m. (EET)
Nightingale Health Plc ("Nightingale Health" or the "Company") published on 27 October 2022 its first consolidated financial statements prepared in accordance with IFRS for the financial year ended 30 June 2022. Before publishing the consolidated financial statements Nightingale Health provided comparative information on its consolidated statement of income, statement of financial position and key financials for the financial year ended 30 June 2021 and for the opening IFRS statement of financial position as at the transition date, 1 July 2020. The Company also announced that it will publish comparative IFRS information for the half-year periods ended on 31 December 2021 and 30 June 2022 before the publication of the H1/2022-2023 half-year report.
In this company release Nightingale Health publishes comparative IFRS information for the half-year periods ended on 31 December 2021 and 30 June 2022.
The financial information in this company release has not been audited.
Key financials for the half-year period 1 July 2021 – 31 December 2021
— Revenue was EUR 1,272 thousand
— EBITDA was EUR -4,128 thousand
— Operating loss was EUR -5,907 thousand
— Loss for the period was EUR -5,758 thousand
— Earnings per share (EPS) amounted to EUR -0.1 (Series A shares and EMP shares) and EUR -0.1 (Series B shares)
— Cash and cash equivalents at the end of the period totaled EUR 105,413 thousand
Key financials for the half-year period 1 January 2022 – 30 June 2022
— Revenue was EUR 1,041 thousand
— EBITDA was EUR -5,261 thousand
— Operating loss was EUR -7,727 thousand
— Loss for the period was EUR -10,332 thousand
— Earnings per share (EPS) amounted to EUR -0.17 (Series A shares and EMP shares) and EUR -0.17 (Series B shares)
— Cash and cash equivalents at the end of the period totaled EUR 95,279 thousand
Consolidated statement of income and comprehensive income 1 Jul 2021 – 31 Dec 2021*
|
EUR thousand |
FAS 31 Dec 2021 |
Total IFRS adjustments |
IFRS 1 Jul 2021 – 31 Dec 2021 |
|||||
|
Revenue |
1,322 |
-50 |
1,272 |
|||||
|
Other income |
20 |
1 |
21 |
|||||
|
Materials and services |
-404 |
- |
-404 |
|||||
|
Employee benefits |
-1,139 |
-1,747 |
-2,887 |
|||||
|
Depreciation, amortization, and impairment losses |
-1,526 |
-252 |
-1,778 |
|||||
|
Other expenses |
-3,050 |
944 |
-2,107 |
|||||
|
Share of joint venture’s result |
-2 |
-22 |
-24 |
|||||
|
Operating profit (loss) |
-4,780 |
-1,126 |
-5,907 |
|||||
|
Finance income |
171 |
-117 |
54 |
|||||
|
Finance costs |
-453 |
-63 |
-515 |
|||||
|
Fair value change in investment in convertible loan |
- |
537 |
537 |
|||||
|
Net finance items |
-281 |
357 |
76 |
|||||
|
Profit (loss) before tax |
-5,062 |
-769 |
-5,831 |
|||||
|
Income tax expense |
-1 |
73 |
72 |
|||||
|
Profit (loss) for the period |
-5,063 |
-696 |
-5,758 |
|||||
|
|
|
|
|
|||||
|
Consolidated statement of comprehensive income |
|
|
|
|||||
|
|
|
|
|
|||||
|
Profit (loss) for the period |
-5,063 |
-696 |
-5,758 |
|||||
|
Other comprehensive income |
|
|
|
|||||
|
Items that may be reclassified subsequently to profit or loss |
|
|
|
|||||
|
Foreign operations - foreign currency translation differences, net of tax |
- |
-9 |
-9 |
|||||
|
Other comprehensive income for the period, net of tax |
- |
-9 |
-9 |
|||||
|
Total comprehensive income for the period |
-5,063 |
-705 |
-5,768 |
|||||
|
|
|
|
|
|||||
Consolidated statement of income and comprehensive income 1 Jan 2022 – 30 Jun 2022*
|
EUR thousand |
FAS 1 Jan 2022 –30 Jun 2022 |
FAS- correction |
Total IFRS adjustments |
IFRS 1 Jan 2022 – 30 Jun 2022 |
|
Revenue |
884 |
- |
157 |
1,041 |
|
Other income |
242 |
- |
- |
242 |
|
Materials and services |
-633 |
- |
- |
-633 |
|
Employee benefits |
-1,845 |
- |
-1,767 |
-3,613 |
|
Depreciation, amortization, and impairment losses |
-1,713 |
- |
-753 |
-2,466 |
|
Other expenses |
-3,262 |
- |
963 |
-2,299 |
|
Share of joint venture’s result |
23 |
- |
-22 |
1 |
|
Operating profit (loss) |
-6,305 |
- |
-1,422 |
-7,727 |
|
Finance income |
755 |
- |
-124 |
631 |
|
Finance costs |
-706 |
- |
43 |
-663 |
|
Fair value change in investment in convertible loan |
-4,103 |
588 |
910 |
-2,604 |
|
Net finance items |
-4,053 |
588 |
829 |
-2,636 |
|
Profit (loss) before tax |
-10,358 |
588 |
-593 |
-10,363 |
|
Income tax expense |
45 |
- |
-14 |
31 |
|
Profit (loss) for the period |
-10,313 |
588 |
-607 |
-10,332 |
|
|
|
|
|
|
|
Consolidated statement of comprehensive income |
|
|
|
|
|
|
|
|
|
|
|
Profit (loss) for the period |
-10,313 |
588 |
-607 |
-10,332 |
|
Other comprehensive income |
|
|
|
|
|
Items that may be reclassified subsequently to profit or loss |
|
|
|
|
|
Foreign operations - foreign currency translation differences, net of tax |
- |
- |
38 |
38 |
|
Other comprehensive income for the period, net of tax |
- |
- |
38 |
38 |
|
Total comprehensive income for the period |
-10,313 |
588 |
-569 |
-10,294 |
* A more detailed bridge calculation of the IFRS transition from the consolidated statement of income is presented in appendix A of this company release. The adjustments made are described in more detail in Note 2 Transition to IFRS of the consolidated financial statements of 1 July 2021–30 June 2022.
Consolidated statement of financial position 31 Dec 2021*
|
EUR thousand |
FAS 31 Dec 2021 |
Total IFRS adjustments |
IFRS 31 Dec 2021 |
|
Assets |
|
|
|
|
Non-current assets |
|
|
|
|
Goodwill |
710 |
-247 |
463 |
|
Intangible assets |
15,692 |
-1,746 |
13,946 |
|
Property, plant and equipment |
1,460 |
1,580 |
3,041 |
|
Right-of-use assets |
- |
5,061 |
5,061 |
|
Equity-accounted investees |
53 |
48 |
101 |
|
Investment in convertible loan |
3,649 |
420 |
4,068 |
|
Other assets |
491 |
-185 |
307 |
|
Total non-current assets |
22,056 |
4,930 |
26,987 |
|
|
|
|
|
|
Current assets |
|
|
|
|
Inventories |
536 |
- |
536 |
|
Trade and other receivables |
1,197 |
-11 |
1,186 |
|
Cash and cash equivalents |
105,413 |
- |
105,413 |
|
Total current assets |
107,147 |
-11 |
107,136 |
|
Total assets |
129,203 |
4,920 |
134,123 |
|
|
|
|
|
|
Equity and liabilities |
|
|
|
|
Equity |
|
|
|
|
Share capital |
80 |
- |
80 |
|
Reserve for invested unrestricted equity |
147,338 |
-5,010 |
142,327 |
|
Translation differences |
3 |
-1 |
2 |
|
Retained loss |
-27,097 |
4,854 |
-22,243 |
|
Total equity |
120,324 |
-157 |
120,167 |
|
Liabilities |
|
|
|
|
Non-current liabilities |
|
|
|
|
Loans and borrowings |
2,288 |
689 |
2,978 |
|
Lease liabilities |
- |
2,615 |
2,615 |
|
Total non-current liabilities |
2,288 |
3,305 |
5,593 |
|
Current liabilities |
|
|
|
|
Loans and borrowings |
1,711 |
354 |
2,065 |
|
Lease liabilities |
- |
1,447 |
1,447 |
|
Advances received |
1,701 |
- |
1,701 |
|
Trade and other payables |
3,179 |
-29 |
3,150 |
|
Total current liabilities |
6,591 |
1,772 |
8,363 |
|
Total liabilities |
8,879 |
5,077 |
13,956 |
|
Total equity and liabilities |
129,203 |
4,920 |
134,123 |
* A more detailed bridge calculation of the IFRS transition from the consolidated statement of financial position is presented in appendix B of this company release. The adjustments made are described in more detail in Note 2 Transition to IFRS of the consolidated financial statements of 1 July 2021–30 June 2022.
For further information, please contact:
CEO Teemu Suna
Certified Adviser:
Oaklins Merasco Ltd, tel. +358 9 6129 670
Appendices
Nightingale Health Plc Company release IFRS comparative information, which includes:
Appendix A Consolidated statement of income and consolidated statement of comprehensive income 1 Jul 2021 – 31 Dec 2021 and 1 Jan 2022 – 30 Jun 2022.
Appendix B Consolidated statement of financial position 31 Dec 2021
About Nightingale Health
Nightingale Health is The Preventative Health Company. Staying healthy is one of the top priorities in human life. Our health has a profound impact on our quality of life, and it’s also strongly connected to the lives of those close to us. Nightingale Health enables prevention by combining the power of our in-house developed, advanced blood analysis technology with unprecedented access to global health repositories and world-leading medical research. With this combination, we go beyond the traditional healthcare and wellbeing tools: We provide the scientific connection to multiple health and disease outcomes and the ability to predict future healthy years.
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