Telix Pharmaceuticals Ltd — Annual Report 2018

Feb 27, 2019

Telix Pharmaceuticals Limited Suite 401, 55 Flemington Road North Melbourne, VIC, 3051 ABN: 85 616 620 369

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Financial year ended

31 December 2018

Results for announcement to the market

Current Reporting Period: 31 December 2018 Previous Reporting Period: Period from 3 January – 31 December 2017

Revenue and net profit

Revenue and net profit
	Change	$ change	% change	2018 result
				$
Trade revenue	Up	195,142	(i)	195,142
Other income and expenses	Up	11,810,502	(i)	11,962,119
Total income (ii)	Up	12,005,644	(i)	12,157,261
Loss from continuing operations after tax	Up	(7,452,710)	117%	(13,829,825)
Total comprehensive loss	Up	(7,398,808)	116%	(13,775,945)

• (i) Given the immaterial amounts in previous year, the percentage is not meaningful as they result in over 1000% variance.

• (ii) Total income is the sum of trade revenue and other income and expenses.

Dividends

No dividend was proposed or paid. The Company is not yet profitable and therefore there can be no assurance that the Company will become profitable or will pay dividends in the near future. Should any dividends be paid in the future, no assurances can be given as to the level of franking credits attaching to such dividends.

	2017	2018
	$	$
Earnings/(loss) per share	(0.0498)	(0.0684)
Net tangible assets per share	0.39	0.06
Dividend per share	-	-

Brief explanation of income and loss

As a development-stage company, Telix Pharmaceuticals has recorded an operating loss for the year. The majority of expenses in the year relate to R&D activities for the Company’s assets and development programs. The Company has recorded R&D tax incentive income for the year of $10,141,969 (2017: $403,467). The R&D tax incentive receivable has been determined based on a combination of eligible domestic and international expenditure of $20,472,611 (2017: $778,848) at a rate of 43.5c tax incentive rebate per eligible R&D dollar spent.

Statement of accumulated losses	2017	2018
	$	$
Balance at the beginning of the year	-	(6,377,115)
Net loss attributable to members of the parent entity	(6,377,115)	(13,829,825)
Balance at end of the year	(6,377,115)	(20,206,940)

Audit Report

This Appendix 4E (Final Report) is based on the audited financial statements for the year ended 31 December 2018 which are attached.