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SOMNOMED LIMITED

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Delayed Australian Stock Exchange  -  05/18 02:10:33 am EDT
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04/26SOMNOMED : Quarterly Appendix 4C Cash Flow Report
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SomnoMed : Appendix 4C Cash Flow Report

01/26/2022 | 05:59pm EDT

For personal use only

Rule 4.7B

Appendix 4C

Quarterly cash flow report for entities subject to Listing Rule 4.7B

Name of entity

SomnoMed Limited

ABN

Quarter ended ("current quarter")

35 003 255 221

31st December 2021

Consolidated statement of cash flows

Current quarter

Year to date (6

$A'000

months)

$A'000

1.

Cash flows from operating activities

1.1

Receipts from customers

18,700

34,880

1.2

Payments for

(a)

research and development

(28)

(58)

(b) product manufacturing and operating

(5,447)

(11,580)

costs

(c)

advertising and marketing

(1,302)

(2,412)

(d)

leased assets

-

-

(e)

staff costs

(7,137)

(15,436)

(f) administration and corporate costs

(2,678)

(5,068)

1.3

Dividends received (see note 3)

-

-

1.4

Interest received

108

112

1.5

Interest and other costs of finance paid

(150)

(260)

1.6

Income taxes (paid) / refund

168

(171)

1.7

Government grants and tax incentives

-

-

1.8

Other

-

-

1.9

Net cash from / (used in) operating

2,233

6

activities

2.

Cash flows from investing activities

2.1

Payments to acquire:

(a)

entities

(b)

businesses

(c) property, plant and equipment

(147)

(435)

(d)

investments

(e)

intellectual property

(814)

(2,521)

(f) other non-current assets

ASX Listing Rules Appendix 4C (01/12/19)

Page 1

+ See chapter 19 of the ASX Listing Rules for defined terms.

For personal use only

Appendix 4C

Quarterly cash flow report for entities subject to Listing Rule 4.7B

Consolidated statement of cash flows

Current quarter

Year to date (6

$A'000

months)

$A'000

2.2

Proceeds from disposal of:

(a)

entities

(b)

businesses

(c)

property, plant and equipment

-

-

(d)

investments

(e)

intellectual property

(f)

other non-current assets

2.3

Cash flows from loans to other entities

2.4

Dividends received (see note 3)

2.5

Other (provide details if material)

46

317

2.6

Net cash from / (used in) investing

(915)

(2,639)

activities

3. Cash flows from financing activities

3.1 Proceeds from issues of equity securities

(excluding convertible debt securities)

-

-

3.2

Proceeds from issue of convertible debt

securities

3.3

Proceeds from exercise of options (EST)

-

-

3.4 Transaction costs related to issues of equity securities or convertible debt securities

3.5

Proceeds from borrowings

3.6

Repayment of borrowings

-

-

3.7 Transaction costs related to loans and borrowings

3.8

Dividends paid

3.9

Other (AASB16 Leased Assets)

(541)

(1,076)

3.10

Net cash from / (used in) financing

(541)

(1,076)

activities

4. Net increase / (decrease) in cash and cash equivalents for the period

4.1 Cash and cash equivalents at beginning of

period

16,955

21,110

4.2

Net cash from / (used in) operating

2,233

6

activities (item 1.9 above)

4.3

Net cash from / (used in) investing activities

(915)

(2,639)

(item 2.6 above)

ASX Listing Rules Appendix 4C (01/12/19)

Page 2

+ See chapter 19 of the ASX Listing Rules for defined terms.

For personal use only

Appendix 4C

Quarterly cash flow report for entities subject to Listing Rule 4.7B

Consolidated statement of cash flows

Current quarter

Year to date (6

$A'000

months)

$A'000

4.4

Net cash from / (used in) financing activities

(541)

(1,076)

(item 3.10 above)

4.5

Effect of movement in exchange rates on

(161)

167

cash held

4.6

Cash and cash equivalents at end of

17,571

17,571

period

5.

Reconciliation of cash and cash

Current quarter

Previous quarter

equivalents

$A'000

$A'000

at the end of the quarter (as shown in the

consolidated statement of cash flows) to the

related items in the accounts

5.1

Bank balances

14,859

14,243

5.2

Call deposits

317

317

5.3

Bank overdrafts

-

-

5.4

Other (Unsecured Facilities)

2,395

2,395

5.5

Cash and cash equivalents at end of

17,571

16,955

quarter (should equal item 4.6 above)

6.

Payments to related parties of the entity and their

Current quarter

associates

$A'000

6.1

Aggregate amount of payments to related parties and their

229

associates included in item 1

6.2 Aggregate amount of payments to related parties and their associates included in item 2

Note: if any amounts are shown in items 6.1 or 6.2, your quarterly activity report must include a description of, and an explanation for, such payments

6.1 Includes payments in relation to the Managing Director pursuant to his employment contract and non-executive directors' fees.

ASX Listing Rules Appendix 4C (01/12/19)

Page 3

+ See chapter 19 of the ASX Listing Rules for defined terms.

Appendix 4C Quarterly cash flow report for entities subject to Listing Rule 4.7B

only

7. Financing facilities

Note: the term "facility' includes all forms of financing arrangements available to the entity.

Add notes as necessary for an understanding of the sources of finance available to the entity.

  1. Loan facilities (unsecured)
  2. Credit standby arrangements
  3. Other (please specify)
  4. Total financing facilities

Total facility

Amount drawn at

amount at quarter

quarter end

end

$A'000

$A'000

2,395

2,395

4,845

-

7,240

2,395

For personal use

7.5

Unused financing facilities available at quarter end

4,845

7.6 Include in the box below a description of each facility above, including the lender, interest rate, maturity date and whether it is secured or unsecured. If any additional financing facilities have been entered into or are proposed to be entered into after quarter end, include a note providing details of those facilities as well.

Loan Facilities:

  1. In March 2020, SomnoMed AG (Switzerland) secured a CHF 0.5 million (A$0.756 million) Government-backed unsecured loan facility with Credit Suisse (maturity of 5 years). The interest payable is currently at 0.50% per annum. This loan expires on 26 February 2025;
  1. In May 2020, SomnoMed France SAS (France) secured a EUR 0.515 million (A$0.832 million Government-backed unsecured loan facility with Société Générale. The interest payable is at 0.5% per annum in the first year (after a grace period of 12 months. Maturity of 5 years). This loan expires on 20 May 2026;
  1. In June 2020, SomnoMed Germany GmbH (Germany) secured a EUR 0.5 million (A$0.807 million) Government-backed unsecured loan facility with Commerzbank (maturity of up to 6 years). The interest payable is 3% per annum. This loan expires on 30 June 2030.

Credit Standby arrangements:

  1. In June 2019, SomnoMed Limited secured a EUR 3 million (A$4.8 million) credit facility, in the form of an overdraft facility, with HSBC France, Amsterdam Branch. There was no drawdown at 30th September 2021. The overdraft facility comprises an interest calculated at the Main Refinancing Operations rate published by the European Central Bank (provided that, if such interest rate is less than zero, it shall be deemed to be zero), increased with the applicable margin of 2.75%. The Main Refinancing Operations Rate is currently at 0%. In October 2020, the credit facility was fully repaid. The facility remains available to SomnoMed for drawdown at short notice.

8.

Estimated cash available for future operating activities

$A'000

8.1

Net cash from / (used in) operating activities (Item 1.9)

2,233

8.2

Cash and cash equivalents at quarter end (Item 4.6)

17,571

8.3

Unused finance facilities available at quarter end (Item 7.5)

4,845

8.4

Total available funding (Item 8.2 + Item 8.3)

22,416

8.5

Estimated quarters of funding available (Item 8.4 divided by

10.04

Item 8.1)

ASX Listing Rules Appendix 4C (01/12/19)

Page 4

+ See chapter 19 of the ASX Listing Rules for defined terms.

For personal use only

Appendix 4C

Quarterly cash flow report for entities subject to Listing Rule 4.7B

8.6 If Item 8.5 is less than 2 quarters, please provide answers to the following questions:

1. Does the entity expect that it will continue to have the current level of net operating cash flows for the time being and, if not, why not?

Answer:

2. Has the entity taken any steps, or does it propose to take any steps, to raise further cash to fund its operations and, if so, what are those steps and how likely does it believe that they will be successful?

Answer:

3. Does the entity expect to be able to continue its operations and to meet its business objectives and, if so, on what basis?

Answer:

ASX Listing Rules Appendix 4C (01/12/19)

Page 5

+ See chapter 19 of the ASX Listing Rules for defined terms.

This is an excerpt of the original content. To continue reading it, access the original document here.

Disclaimer

Somnomed Limited published this content on 26 January 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 26 January 2022 22:58:04 UTC.


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Sales 2022 72,4 M 50,8 M 50,8 M
Net income 2022 -3,12 M -2,19 M -2,19 M
Net cash 2022 8,79 M 6,17 M 6,17 M
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Capitalization 122 M 85,9 M 85,9 M
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Free-Float 69,5%
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Last Close Price 1,48 AUD
Average target price 2,46 AUD
Spread / Average Target 65,9%
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Neil Verdal-Austin Chief Executive Officer, MD & Director
Hervé Fiévet Chief Financial Officer
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