Half-Year Report, H1 2022
August 2022
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Forward-looking statements
Certain information set forth and given in this presentation contains "forward-looking information", including "future-oriented financial information" and "financial outlook", under applicable securities laws (collectively referred to herein as forward-
looking statements). Except for statements of historical fact, information contained herein constitutes forward-looking statements and includes, but is not limited to, the (i) projected financial performance of ViroGates A/S (ViroGates); (ii) the expected development of ViroGates' business, projects and joint ventures; (iii) execution of ViroGates' vision and growth strategy, including with respect to future M&A activity and global growth; (iv) sources and availability of third-party financing for ViroGates' projects; (v) completion of ViroGates' projects that are currently underway, in development or otherwise under consideration; (vi) renewal of ViroGates' current customer, supplier and other material agreements; and (vii) future liquidity, working capital, and capital requirements.
Forward-looking statements are provided to allow potential investors the opportunity to understand management's beliefs and opinions in respect of the future so that they may use such beliefs and opinions as one factor in evaluating an investment.
These statements are not guarantees of future performance and undue reliance should not be placed on them. Such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause actual performance and financial results in future periods to differ materially from any projections of future performance or result expressed or implied by such forward-looking statements.
Although forward-looking statements contained in this presentation are based upon what management of
ViroGates believes are reasonable assumptions, there can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. ViroGates undertakes no obligation to update forward-looking statements if circumstances or management's estimates or opinions should change except as required by applicable securities laws. The reader is cautioned not to place undue reliance on forward-looking statements.
Contents
Summary4
Management review | 8 |
Financial statements | 13 |
Statement by the Board and 23
Executive Management
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On 18 august 2022, the Board of Directors has accepted the Half-Year Report for the first half year of 2022 (the period 1 January
- 30 June 2022) for ViroGates A/S. The Half-Year Report is unaudited.
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Contents
Summary | 4 |
Management review | 8 |
Financial statements | 13 |
Statement by the Board and | 23 |
Executive Management |
5
Revenue increased by 62% in H1, 2022, compared to H1, 2021, driven by
new customers and continued recurring use by existing customers
Financial results in H1, 2022
(H1, 2021 results in brackets)
- Revenue increased by 62% to TDKK 6,295 (TDKK 3,891)
- Operating expenses decreased by 14% to TDKK -11,902 (TDKK -13,787)
- Operating loss decreased by -43% to TDKK -5,608 (TDKK -9,896)
- Net loss decreased by -47% to TDKK -4,894 (TDKK -9,321)
- Cash and cash equivalents at the end of the period amounted to TDKK 4,636 (TDKK 21,323)
"In the first half year of 2022, we continued growing revenue by 62% compared to last year while maintaining healthy gross profit margins.
The growth is a result of the increasing adoption of suPARnostic® on hospitals across Europe - both in emergency departments and COVID- 19 departments. We maintain a financial guidance of 10 to 13 DKKm in full-year revenue with an expected full-year EBIT of -11 to -14 DKKm. We still expect to become cash flow positive during 2024."
Mark Christian Hvidberg da Silva, CFO
TDKK+62%
Revenue 3,891 6,295
Operating | -43% | |||
loss | ||||
-5,608 | ||||
-9,896 | ||||
-78% | ||||
21,323 | ||||
Cash | 4,636 | |||
balance | ||||
H1, 2021 | H1, 2022 | |||
Note: Cash and cash equivalents excluding capital injection from July 2022 rights issue.
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ViroGates A/S published this content on 18 August 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 18 August 2022 11:33:07 UTC.