Telix Pharmaceuticals Ltd — Earnings Release 2019

Feb 23, 2020

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 2019

Results for announcement to the market

Current Reporting Period: 31 December 2019 Previous Reporting Period: Period from 1 January – 31 December 2019

Revenue and net profit (loss)

Revenue and net profit (loss)
	Change	Change	Change	2019 result
		$000	%	$000
Trade revenue	Up	3,290	(i)	3,485
Other income and expenses	Down	(420)	(4%)	11,542
Total income (ii)	Up	2,870	24%	15,027
Loss from continuing operations after tax	Down	(14,037)	101%	(27,867)
Total comprehensive loss	Down	(14,207)	103%	(27,983)

(i) Given the immaterial amounts in previous year, the percentage is not meaningful as they result in over 100% 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.

	2019	2018
	cents	cents
Earnings/(loss) per share	(11.94)	(6.84)
Net tangible assets per share	25.99	6.67
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 $11,693,000 (2018: $10,142,000). The R&D tax incentive receivable has been determined based on a combination of eligible domestic and international expenditure of $26,881,000 (2018: $20,473,000) at a rate of 43.5c tax incentive rebate per eligible R&D dollar spent.

Statement of accumulated losses	2019	2018
	$000	$000
Balance at the beginning of the year	(20,207)	(6,377)
Net loss attributable to members of the parent entity	(27,867)	(13,830)
Balance at end of the year	(48,074)	(20,207)

Audit report

This Appendix 4E (Final Report) is based on the audited financial statements for the year ended 31 December 2019 which are attached.

The Appendix 4E and Annual Report have been approved for released by the Board of Directors.