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windeln.de SE Interim / Quarterly Report 2020
490_10-q_2020-11-25_b457f028-b5f8-4591-87be-60a15561da88.pdf
Interim / Quarterly Report
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QUARTERLY STATEMENT Q3 2020
WINDELN.DE GROUP AT A GLANCE
| Performance indicators (continuing operations only) | 9M 2020 | 9M 2019 R | Q3 2020 | Q3 2019 R |
|---|---|---|---|---|
| Site visits (in thousands)1 | 14,540 | 19,616 | 5,572 | 6,672 |
| Mobile visit share (as % of site visits) | 85.6% | 78.3% | 89.2% | 74.2% |
| Mobile orders (as % of number of orders) | 62.4% | 61.0% | 64.9% | 61.7% |
| Active customers | 281,710 | 329,313 | 281,710 | 329,313 |
| Number of orders | 342,780 | 432,987 | 105,517 | 145,885 |
| Average orders per active customer (in number of orders) | 1.7 | 2.0 | 1.7 | 2.0 |
| Share of repeat customer orders (as % of orders of last 12 months) |
67.6% | 72.6% | 67.6% | 72.6% |
| Gross order intake (in kEUR) | 30,174 | 38,859 | 8,677 | 12,561 |
| Average order value (in EUR) | 88.03 | 89.75 | 82.23 | 86.10 |
| Returns (as % of gross revenues from orders) | 2.6% | 2.9% | 2.5% | 2.9% |
| Marketing cost ratio (as % of revenues) | 2.8% | 4.3% | 3.4% | 4.0% |
| Fulfilment cost ratio (as % of revenues) | 7.4% | 14.5% | 8.2% | 13.6% |
| Adjusted other SG&A expenses (as % of revenues) | 21.5% | 24.4% | 25.4% | 29.2% |
| Earnings position (continuing operations only) | ||||
| Revenues (in kEUR) | 58,752 | 49,835 | 15,009 | 15,418 |
| Gross profit (in kEUR) | 13,178 | 12,253 | 2,572 | 3,360 |
| Gross profit (as % of revenues) | 22.4% | 24.6% | 17.1% | 21.8% |
| Operating contribution (in kEUR) | 7,180 | 2,885 | 820 | 638 |
| Operating contribution (as % of revenues) | 12.2% | 5.8% | 5.5% | 4.1% |
| Adjusted EBIT (in kEUR) | -5,467 | -9,291 | -2,989 | -3,860 |
| Adjusted EBIT (as % of revenues) | -9.3% | -18.6% | -19.9% | -25.0% |
| Financial position | ||||
| Cash flow used in operating activities (in kEUR) | -7,293 | -10,680 | -199 | -2,065 |
| Cash flow from/used in investing activities (in kEUR) | -446 | 357 | -134 | -76 |
| Cash flow from/used in financing activities (in kEUR) | 4,843 | 8,866 | -182 | -253 |
| Net decrease in cash and cash equivalents | -2,896 | -1,457 | -515 | -2,394 |
| Cash and cash equivalents at the end of the period (in kEUR) | 5,476 | 9,683 | 5,476 | 9,683 |
| Other | ||||
| Basic earnings per share (in EUR) | -1.21 | -4.94 | -0.45 | -1.43 |
| Basic earnings per share from continuing operations (in EUR) | -0.65 | -3.85 | -0.38 | -1.15 |
All performance indicators and the section earnings position include amounts from continuing operations only. Since end of Ma rch 2020, the Southern European Bebitus business meets the requirements of a discontinued operation and is therefore presented as separate amount in the item "Profit or loss after taxes from discontinued operations" in the consolidated income statement. The presentation in the consolidated income statement was amended retrospectively.
1 In Q3 2020, the method of measuring visits on Shop sites has been changed to now exclude traffic from the magazine sites. The chang e was necessary to accurately calculate the conversion rate on the respective shop sites. Historical data before the implemented change cannot be updated due to technical restrictions.
MATERIAL TRANSACTIONS IN Q3 2020
New Munich office
After its contractual lease end on August 31, 2020, the lease agreement for offices in Munich Hofmannstrasse was not renewed. End of August 2020, windeln.de SE moved to its new office in Stefan-George-Ring 23 in 81929 Munich. The new office address is identical to the registered company address of windeln.de SE, the commercial register no. remains unchanged.
Data security incident
On September 16, 2020, windeln.de published a press release on a data security incident. Between June 10 and June 23, 2020, data of some of our customers were temporarily stored on an unprotected server. This was caused by a maintenance error, which has since been corrected. windeln.de gained knowledge about the incident in Q3 2020, immediately informed its customers and the public, and engaged an external IT forensic specialist to analyze the incident.
Termination of the LangTao service agreement
On September16, 2020, the service agreement with LangTao Trading (Shanghai) Co. Ltd. ("LangTao") was terminated without incremental expenses; windeln.de had submitted an extraordinary cancellation as of May 31, 2020. Since mid of 2019, LangTao has rendered customer services, services on brand strategies, project and marketing planning, visual design, product management, sales promotions, communication with sales channels and supply chain management. Most of these services are now performed by the employees of the Chinese Group service company.
Progress in envisaged projects in the IT area
The implementation of the new external shop software could be finalized for the first distribution channel in August 2020; after Go-Live it is subject to regular amortization. In order to mitigate incremental investments for the other distribution channels, the current agreement with the software provider was amended in Q3 2020. The minimum lease term was extended to four years, and future implementation fees are due for payment ratably over the contract period. Like the previous contract, the amended agreement is structured as a rental license granting us a right-of-use that qualifies as an identifiable asset, it is therefore recognized as right-of-use asset and lease liability pursuant to IFRS 16. The contract amendment is accounted for as a modification and resulted in other operating income of EUR 8k in Q3 2020.
In addition, the envisaged relocation of the internal IT shop development department from Munich to the Sibiu office, Romania, was completed in Q3 2020. All these measures shall contribute to reduce selling and general administrative expenses on a long -term basis.
Price automation tool
Since the beginning of the third quarter of 2020, our shop www.windeln.ch is connected to the Group-wide external price automation tool with the aim to further optimize product margins.
Resolutions by the Annual General Meeting
The following resolutions by the Annual General Meeting on June 24, 2020, became effective by registration in the Commercial Register as of September4, 2020:
- The Annual General Meeting resolved to cancel the Authorized Capital 2018/I in the amount of EUR 15,500,000 and replace by a new Authorized Capital 2020 in the amount of EUR 4,080,122. By Authorized Capital 2020, management board is authorized, with the consent of the supervisory board, to increase the Company's share capital by June 23, 2025 by issuing new no-par value bearer shares against contributions in cash and/or in kind on one or more occasions. The shareholders are generally to be granted a subscription ri ght.
- Furthermore, it was resolved to replace the unused authorization to issue convertible bonds and/or bonds with warrants, profit participation rights and/or participating bonds and the corresponding Conditional Capital 2019/I of EUR3,226,629 by a new authorization with largely identical contents, adjusted to the new share capital figure. The new authorization is granted until June 23, 2025, the corresponding Conditional Capital 2020/I amounts to EUR 3,263,882.
- Conditional Capital 2015/II resolved to service subscription rights from the Long Term Incentive Program of up to EUR 555,206 was partially cancelled in the amount of EUR 547,355 and amounts to EUR 7,851. Conditional Capital 2018 – resolved to grant subscription rights from the Stock Option Program 2018 – of up to EUR1,200,000 was cancelled in the amount of EUR 1,184,263 and amounts to EUR 15,737. Subscription rights already issued remain unaffected. Management board and supervisory board were authorized to grant up to 788,228 subscription rights until June 23, 2024, for up to 788,228 no-par value bearer shares from the Stock Option Program 2020 to board members and employees of the Company and its subsidiaries The authorization will become effective upon registration of the corresponding Conditional Capital 2020/II of EUR788,228 in the Commerical Register.
Following the registration, the management board – with approval of the supervisory board – resolved on a further capital increase on September25, 2020, and submitted a subscription offer to the existing windeln.de shareholders for the new shares yet to be created (New Shares) at a subscription price of EUR 1.20 per New Share. The subscription period ended after the closing date on October 16, 2020.
SUBSEQUENT EVENTS
The above-mentioned capital increase was completed on October 22, 2020, by registration in the Commercial Register. 380,525 New Shares were subscribed by the Company's existing shareholders via subscription rights with a subscription ratio of 2 : 1 and via the additional subscription rights voluntarily granted by the Company. 2,441,303 New Shares were placed with selected investors as part of a private placement.Gross issue proceeds came at EUR3,386k.
COMMENTS ON NET ASSETS, FINANCIAL POSITION AND RESULTS OF OPERATIONS
Effects of the COVID 19 pandemic on the third quarter of 2020
Our evaluation of the COVID 19 pandemic is unchanged to the Half Year Report 2020. Please refer to note 2.4.1 in the Interim Group Management Report as of June 30, 2020.
Results of operations
In the nine-months-period 2020, revenues from continuing operations increased by EUR 8,917k or 18% compared to the prior year. Growth was mainly achieved in China (+22%), whereas Europe grew by 8% (without discontinued Bebitus operations).
A growth contributor in Europe was the Corona situation that massively increased the popularity of online sales in March and April. Additionally, mainly vendor funded sales promotions could be expanded compared to the prior year.
In the nine-months-period 2020, China revenues contain a positive special item of EUR 3,847k, which is the result of VAT adjustments for orders shipped by windeln.de to Chinese customers via so-called freight forwarders in prior years. These export deliveries, which had previously been subject to VAT in Germany, could be corrected with the subsequent confirmation of the export respectively by obtaining corresponding supporting documents. Without this one-time-effect, revenue growth in China amounts to 11%. This is mainly attributable to a new sales channel offering hygiene products to corporate customers. Revenues are generated either directly or as commission fees. In the first nine months of 2020, revenues of EUR 6,954k were recognized though that channel. In addition, we could for the first time generate revenues from new product categories from the cooperation with bodyguardpharm GmbH; and we generated further revenues from the cooperation with Holland at Home B. V.
The end customer business in China, however, is behind our expectations. This is caused by an oversupply in the market as well as a temporary suspension of the SPDC customs process which did not allow windeln.de to offer duty paid goods in our shops. In addition, the termination of the LangTao service agreement slowed down the customer acquisition process.
The margin (gross profit as % of revenues) comes at 22.4% in the nine-months-period2020 and is 2.2pp below the prior year. This is partially driven by the increased business volume with corporate customers and intermediates generating lower margins but also significantly lower logistics expenses, and therefore contributingto an improvement in operating contribution. A significant margin effect results from revenues of EUR 3,847k from VAT adjustments that have no corresponding cost of sales. Due to the market environment and the oversupply in the market, rebate campaigns in China negatively impact the margin, in particular in Q3 2020.
Selling and distribution expenses have decreased in the reporting period by EUR 2,028k or 12%. Savings were achieved for logistics, warehouse rent and marketing.
On the one hand, the reduction in logistics and warehouse expenses is the result of a lower stock levelduring the first six months of 2020 and a higher turnover ratio compared to prior year period, whereby warehouse rental costs could be reduced. On the other hand, lower logistic costs in conjunction with the second bonded warehouse in China, opened in the fourth quarter 2019, show an impact. The reduction in logistics and warehouse expenses (so-called fulfilment costs) and the increase in revenues at the same time, materially impact the improvement in operating contribution. Also, the increased business volume with intermediates and corporate customers leads to lower logistics expenses in relation to revenues.
Within personnel expenses, one-time income from share-based compensation was recognized, at the same time, expenses from wages and salaries have increased due to the hiring of the new team in China and the opening of the new Beijing office ; overall personnel expenses are basically unchanged to the prior year. One reason for the decrease in marketing expenses is the cancellation of the LangTao service provider. During the insourcing phase in Q2 2020, marketing spending in China was significantly cut back. In Q3 2020, marketing spending was allocated more effectively.
In connection with the VAT corrections described above, expense allowances in the amount of EUR 1,045k are recognized in selling and distribution expenses. Additionally, the write-off of EUR 250k investments subsidies paid to KFG is recognized as an expense within selling and distribution expenses.
Administrative expenses are EUR 1,703k or 29% below the prior year period. This mainly results from a one-time income in share-based compensation in 2020 and a one-time expense in the prior year from the program "Incentive 2019" that leads to a decrease in personnel expenses of 39% compared to the prior year period.
Other operating income contains a one-time foreign exchange gain of EUR 207k from the deconsolidation of windeln.ch AG. Other operating expenses contain mainly foreign exchange losses in the current and prior year.
As a result of the above-mentioned developments, earnings before interest and taxes (EBIT) further improved by EUR 4,706k or 50% in the nine-months-period2020.
The profit or loss from discontinued operations relates to Bebitus operations and, to an immaterial extent, to the Feedo operations that were sold in 2018. The operating result (EBIT) of Bebitus operations was minus EUR 2,014k, an improvement of 26% compared to the prior year. In addition, expenses for the remeasurement of assets held for sale in the amount of EUR 2,031k were recognized within discontinued operations.
Financial position
In the nine-months-period 2020, the Group generated negative cash flows from operating activities in the amount of EUR 7,293k, which is an improvement of 32% compared to the prior year period and results mainly from the improved EBIT margin. The loss of the period could be reduced by EUR3,350k, however, it contains non-cash income from the remeasurement of Restricted Stock Units (EUR 888k) and from the deconsolidation of windeln.ch AG (EUR 207k). Additionally, the loss of the period contains non-cash expenses EUR2,031k from remeasurement of assets held for sale relating to the planned discontinuation of Bebitus operations.
The cash outflow from investing activitiesmainly results from investments in the new shop software (EUR 415k) and fixed assets (EUR 38k). In the prior year, investment activities generated cash inflows that ware mainly attributable to the received purchase price from the divestiture of Feedo Group (EUR 417k incl. interest) and a refund of the purchase price from the acquisition of Feedo Group (EUR70k).
Cash inflows from financing activities of EUR 4,843k in the nine months of 2020 reflect the successfully executed capital increase in the first quarter of 2020, resulting in net cash proceeds of EUR 5,557k. Furthermore, lease liabilities in the amount of EUR 664k were redeemed. In the prior year, cash inflows from financing activities amounted to EUR 8,866k. Net cash proceeds from a capital increase were EUR 9,419k, whereas only EUR 494k lease liabilities were redeemed.
Net assets
Since December31, 2019, non-current assets have increased by 6% to EUR 3,869k as September 30, 2020. Main drivers were the reclassification of Bebitus domains (EUR 1,819k) as held for sale and the capitalization of right-of-use assets of the new shop software (EUR 1,744k) and the new office space in Munich (EUR 1,142k).
As of September 30, 2020, current assets have decreased by EUR4,166k or 20% compared to December 31, 2019. Without reclassification and remeasurement of Bebitus inventories, total inventories have increased by 22% or EUR 1,761k. The is attributable to increased customer deliveries from our two bonded warehouses which lead to higher inventory stock levels since they are replenished through sea shipment. In addition, we have begun building up inventories for the upcoming Q4 sales events in China (Single's Day).
The decrease in other financial assets mainly results from the decrease in creditors with debit balances by EUR 625k, that were at an unusually high level on December 31, 2019. Additionally, accrued advertising subsidies and suppler rebates were decreased by EUR 327k, a result of an optimized invoicing cycle with major suppliers. Restricted cash of EUR 226k,pledged as lease deposit for the office space in Hofmannstrasse, was converted into non-restricted cash in Q3 2020.
Assets held for sale contain remeasured assets intended for sale in the planned Bebitus divestiture.
Since December 31, 2019, equity has decreased by EUR 4,405k on September 30, 2020. Due to the executed capital increase in February 2020, equity has increased by EUR 6,205k gross. Furthermore, the change in settlement method of RSU's from equity-settled to cash-settled led to a reclassification of EUR 1,003k from share premium to accrued employee benefits. Contrarily, the loss of the nine-months-period 2020 of EUR 8,741k as well as equity transaction costs of EUR 682k resulted in a reduction in equity.
Non-current liabilities mainly contain lease liabilities that have significantly increased due to the new shop software agreement (February 2020) and its modification (August 2020). Current liabilities, however, are basically on prior year level.
We define the performance indicator net working capital as the total of inventories, prepayments on inventories, trade receivables, accrued advertising subsidies and supplier rebates, creditors with debit balances and VAT assets, deducted by VAT liabilities, trade payables and deferred expenses. As of September30, 2020, net working capital 2 amounts to EUR 6,202k and is 14% above the prior year level (December 31, 2019: EUR 5,439k). The high inventory levels for the China business as of June 30, 2020, could be significantly reduced in the course of Q3 2020.
RESULTS OF OPERATING SEGMENTS
| 9M | 9M | Q3 | Q3 | |
|---|---|---|---|---|
| kEUR | 2020 | 2019 R | 2020 | 2019 R |
| Revenues | ||||
| Europe | 24,868 | 23,596 | 8,211 | 7,682 |
| thereof continuing operations | 15,177 | 14,066 | 4,806 | 4,644 |
| thereof discontinued operations | 9,691 | 9,530 | 3,405 | 3,038 |
| China | 43,575 | 35,769 | 10,203 | 10,774 |
| Operating contribution | ||||
| Europe | -69 | -1,163 | 4 | -318 |
| thereof continuing operations | -322 | -1,096 | -76 | -340 |
| thereof discontinued operations | 253 | -67 | 80 | 22 |
| China | 7,502 | 3,981 | 896 | 978 |
ADJUSTED EBIT
| kEUR | 9M 2020 |
9M 2019 R |
Q3 2020 |
Q3 2019 R |
|---|---|---|---|---|
| Earnings before interest and taxes (EBIT) from continuing operations |
-4,646 | -9,352 | -3,077 | -3,410 |
| adjusted for share-based compensation | -864 | 27 | 88 | -498 |
| adjusted for costs of reorganization measures | - | -14 | - | - |
| adjusted for costs of the warehouse move | 250 | - | - | - |
| adjusted for effects from deconsolidation of windeln.ch AG | 207 | - | - | - |
| adjusted for costs of acquisitions | - | 48 | - | 48 |
| Adjusted EBIT from continuing operations | -5,467 | -9,291 | -2,989 | -3,860 |
2 including Bebitus, before IFRS 5 remeasurement
CONSOLIDATED INCOME STATEMENT AND OTHER COMPREHENSIVE INCOME
| 9M | 9M | Q3 | Q3 | |
|---|---|---|---|---|
| kEUR Continuing operations |
2020 | 2019 R | 2020 | 2019 R |
| Revenues | 58,752 | 49,835 | 15,009 | 15,418 |
| Cost of sales | -45,574 | -37,582 | -12,437 | -12,058 |
| Gross profit | 13,178 | 12,253 | 2,572 | 3,360 |
| Selling and distribution expenses | -14,261 | -16,289 | -4,128 | -4,924 |
| Administrative expenses | -4,075 | -5,778 | -1,608 | -2,054 |
| Other operating income | 715 | 566 | 117 | 255 |
| Other operating expenses | -203 | -104 | -30 | -47 |
| Earnings before interest and taxes (EBIT) | -4,646 | -9,352 | -3,077 | -3,410 |
| Financial income | 5 | - | - | - |
| Financial expenses | -44 | -54 | -17 | -16 |
| Financial result | -39 | -54 | -17 | -16 |
| Earnings before taxes (EBT) | -4,685 | -9,406 | -3,094 | -3,426 |
| Income taxes | -4 | -7 | -1 | -4 |
| Profit or loss from continuing operations | -4,689 | -9,413 | -3,095 | -3,430 |
| Profit or loss after taxes from discontinued operations | -4,052 | -2,678 | -604 | -837 |
| PROFIT OR LOSS FOR THE PERIOD | -8,741 | -12,091 | -3,699 | -4,267 |
| Other comprehensive income that may be reclassified to profit or loss in subsequent periods: |
||||
| Exchange differences on translation of foreign operations | -209 | 28 | -1 | 13 |
| OTHER COMPREHENSIVE INCOME OR LOSS, NET OF TAX | -209 | 28 | -1 | 13 |
| TOTAL COMPREHENSIVE INCOME OR LOSS, NET OF TAX | -8,950 | -12,063 | -3,700 | -4,254 |
| Basic earnings per share (in EUR) | -1.21 | -4.94 | -0.45 | -1.43 |
| Basic earnings per share from continuing operations (in EUR) | -0.65 | -3.85 | -0.38 | -1.15 |
CONSOLIDATED STATEMENT OF FINANCIAL POSITION
| Assets | ||
|---|---|---|
| kEUR | September 30, 2020 | December 31, 2019 |
| NON-CURRENT ASSETS | ||
| Intangible assets | 2,153 | 2,843 |
| Fixed assets | 1,468 | 631 |
| Other financial assets | 116 | 16 |
| Other non-financial assets | 128 | 149 |
| Deferred tax assets | 4 | 2 |
| Total non-current assets | 3,869 | 3,641 |
| CURRENT ASSETS | ||
| Inventories | 7,798 | 7,339 |
| Prepayments | 91 | 1 |
| Trade receivables | 608 | 838 |
| Income tax receivables | 2 | 6 |
| Other financial assets | 1,511 | 2,719 |
| Other non-financial assets | 1,516 | 1,888 |
| Cash and cash equivalents | 5,476 | 8,377 |
| Total current assets | 17,002 | 21,168 |
| Assets held for sale | 1,842 | - |
| TOTAL ASSETS | 22,713 | 24,809 |
| Equity and liabilities | ||
| kEUR | September 30, 2020 | December 31, 2019 |
| EQUITY | ||
| Issued capital | 8,160 | 2,989 |
| Share premium | 172,278 | 172,904 |
| Accumulated loss | -169,475 | -160,734 |
| Cumulated other comprehensive income | -9 | 200 |
| Total equity | 10,954 | 15,359 |
| NON-CURRENT LIABILITIES | ||
| Accrued employee benefits | 86 | - |
| Financial liabilities | 2,106 | 101 |
| Total non-current liabilities | 2,192 | 101 |
| CURRENT LIABILITIES | ||
| Other provisions | 154 | 288 |
| Financial liabilities | 512 | 519 |
| Trade payables | 4,053 | 3,639 |
| Deferred revenues | 2,029 | 2,287 |
| Income tax payables | 0 | 1 |
| Other financial liabilities Other non-financial liabilities |
2,342 477 |
2,064 551 |
| Total current liabilities | 9,567 | 9,349 |
CONSOLIDATED STATEMENT OF CASH FLOWS
| kEUR | 9M 2020 |
9M 2019 |
|---|---|---|
| Profit or loss for the period | -8,741 | -12,091 |
| Amortization (+) / impairment (+) of intangible assets | 622 | 801 |
| Depreciation (+) / impairment (+) of fixed assets | 541 | 547 |
| Increase (+) / decrease (-) in provisions | -137 | -98 |
| Non-cash income (-) or expenses (+) from employee benefits | -889 | 27 |
| Other non-cash expense (+) / income (-) items | 1,814 | 3 |
| Increase (-) / decrease (+) in inventories | -2,436 | -1,193 |
| Increase (-) / decrease (+) in prepayments | -167 | -71 |
| Increase (-) / decrease (+) in trade receivables | 230 | -211 |
| Increase (-) / decrease (+) in other assets | 1,467 | 864 |
| Increase (+) / decrease (-) in trade payables | 407 | -509 |
| Increase (+) / decrease (-) in deferred revenues | -258 | 652 |
| Increase (+) / decrease (-) in other liabilities | 208 | 556 |
| Gain (-) / loss (+) from disposal of intangible and fixed assets | -2 | -1 |
| Interest expenses (+) / income (-) | 45 | 42 |
| Income tax expenses (+) / income (-) | 5 | 8 |
| Income tax paid (-) / received (+) | -2 | -6 |
| Net cash flows used in operating activities | -7,293 | -10,680 |
| Proceeds (+) from sales of intangible and fixed assets | 2 | 1 |
| Purchase (-) of intangible assets | -415 | -70 |
| Purchase (-) of fixed assets | -38 | -61 |
| Payments (-) or refunds (+) from acquisition of subsidiaries | - | 70 |
| Cash flows from divestiture of subsidiaries | - | 400 |
| Interest received (+) | 5 | 17 |
| Net cash flows from / used in investing activities | -446 | 357 |
| Proceeds (+) from issue of shares | 6,205 | 10,138 |
| Transaction cost (-) on issue of shares or capital decrease | -648 | -719 |
| Repayment (-) of lease liabilities | -664 | -494 |
| Interest paid (-) | -50 | -59 |
| Net cash flows from financing activities | 4,843 | 8,866 |
| Cash and cash equivalents at the beginning of the period | 8,377 | 11,136 |
| Net decrease in cash and cash equivalents | -2,896 | -1,457 |
| Change in cash and cash equivalents due to foreign exchange rates | -5 | 4 |
| Cash and cash equivalents at the end of the period | 5,476 | 9,683 |
CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
| Actuarial gains or | |||||||
|---|---|---|---|---|---|---|---|
| losses from | Exchange | ||||||
| remeasurement of | differences on | Other | |||||
| Issued | Share | Accumulated | defined benefit | translation of | comprehensive | Total | |
| kEUR | capital | premium | loss | pension plans | foreign operations | income or loss | equity |
| As at January 1, 2020 |
2,989 | 172,904 | -160,734 | 3 | 197 | 200 | 15,359 |
| Total comprehensive income or loss of the period | - | - | -8,741 | - | -209 | -209 | -8,950 |
| Issue of share capital | 5,171 | 1,034 | - | - | - | - | 6,205 |
| Transaction costs | - | -682 | - | - | - | - | -682 |
| Share-based payments | - | -978 | - | - | - | - | -978 |
| As at September 30, 2020 |
8,160 | 172,278 | -169,475 | 3 | -12 | -9 | 10,954 |
| As at January 1, 2019 |
31,136 | 170,391 | -181,119 | 3 | 183 | 186 | 20,594 |
| Total comprehensive income or loss of the period | - | - | -12,091 | - | 28 | 28 | -12,063 |
| Capital decrease | -28,022 | - | 28,022 | - | - | - | - |
| Issue of share capital | 6,850 | 3,288 | - | - | - | - | 10,138 |
| Transaction costs | - | -700 | - | - | - | - | -700 |
| Share-based payments | - | 27 | - | - | - | - | 27 |
| As at September 30, 2019 |
9,964 | 173,006 | -165,188 | 3 | 211 | 214 | 17,996 |
81929 Munich, Germany Picture credits corporate.windeln.de Fotolia, iStock
Editorial team and contact Corporate Communications Concept, text, layout and design windeln.de SE Judith Buchholz windeln.de SE Stefan-George-Ring 23 E-Mail: [email protected]
