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Telix Pharmaceuticals Ltd — Annual Report 2020
Feb 25, 2021
31324_rns_2021-02-25_0277b70d-dffc-4c31-8010-ba897bcb372a.pdf
Annual Report
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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 2020
Results for announcement to the market
Current Reporting Period: 31 December 2020 Previous Reporting Period: Period from 1 January – 31 December 2019
Revenue and net profit (loss)
| Revenue and net profit (loss) | ||||
|---|---|---|---|---|
| Change | Change | Change | 2020 result | |
| $000 | % | $000 | ||
| Revenue | Up | 1,728 | 50% | 5,213 |
| Other income and expenses | Down | (1,758) | (15%) | 9,784 |
| Total income (i) | Down | (30) | 0% | 14,997 |
| Loss from continuing operations after tax | Up | (17,020) | 61% | (44,887) |
| Total comprehensive loss | Up | (16,543) | 59% | (44,526) |
(i) Total income is the sum of 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.
| 2020 | 2019 | |
|---|---|---|
| cents | cents | |
| Earnings/(loss) per share | (17.45) | (11.94) |
| Net tangible assets per share | 6.44 | 11.83 |
| 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 $12,318,000 (2019: $11,693,000). The R&D tax incentive receivable has been determined based on a combination of eligible domestic and international expenditure of $28,317,000 (2019: $26,881,000) at a rate of 43.5c tax incentive rebate per eligible R&D dollar spent.
| Statement of accumulated losses | 2020 | 2019 |
|---|---|---|
| $000 | $000 | |
| Balance at the beginning of the year | (48,074) | (20,207) |
| Net loss attributable to members of the parent entity |
(44,887) | (27,867) |
| Balance at end of the year | (92,961) | (48,074) |
Audit report
This Appendix 4E (Final Report) is based on the audited financial statements for the year ended 31 December 2020 which are attached.
The Appendix 4E and Annual Report have been approved for release by the Board of Directors.