Annual Report 2012.pdf - Karo Bio

More documents

Recommendations

Info

Five-year overview Five-year overview GROUP (Amounts in MSEK unless otherwise stated) 2008 2009 2010 2011 2012 Income statement Net sales 10.7 5.9 – – 33.2 Administrative expenses –28.6 –30.9 –32.8 –40.8 –25.1 R&D expenses –169.4 –132.4 –129.4 –189.3 –107.9 Other operating income and expenses –3.4 0.3 0.4 –1.0 0.0 Operating profit –190.7 –157.1 –161.8 –231.1 –99.8 Financial net 15.9 2.6 –1.7 4.5 1.5 Results after financial items –174.8 –154.5 –163.5 –226.6 –98.3 Balance sheet Licenses and similar assets 1.7 0.5 – – – Equipment 8.1 5.8 4.6 5.6 3.7 Total non-current assets 9.8 6.3 4.6 5.6 3.7 Other current assets 8.7 10.2 9.9 7.4 19.9 Cash and cash equivalents 242.7 237.2 395.0 158.5 54.1 Total current assets 251.4 247.4 404.9 165.9 74.0 Total assets 261.2 253.7 409.5 171.5 77.7 Equity 219.5 215.2 342.5 115.9 45.9 Long-term liabilities 2.0 1.2 0.5 – – Short-term liabilities 39.7 37.3 66.5 55.6 31.8 Total equity and liabilities 261.2 253.7 409.5 171.5 77.7 Cash flow Cash flow from operating activities –186.4 –146.9 –158.9 –198.3 –127.8 Net investments in non-current assets –3.8 –1.2 –2.0 –4.3 –0.2 Net investments in other short-term placements 88.0 –19.9 82.3 –45.2 88.4 Cash flow from investing activities 84.2 –21.1 80.3 –49.5 88.2 Cash flow from financing activities – 150.2 324.9 –33.9 23.9 Cash flow for the year –102.2 –17.8 246.3 –281.7 –15.7 Operating cash flow –190.2 –148.1 –160.9 –202.6 –128.0 Key figures Equity 219.5 215.2 342.5 115.9 45.9 Return on equity, % –57.0 –71.1 –58.6 –98.9 –121.5 Return on capital employed, % –56.8 –72.3 –58.0 –100.8 –123.3 Operating margin, % n.m n.m n.m n.m n.m Profit margin, % n.m n.m n.m n.m n.m Equity ratio, % 84.0 84.8 83.6 67.6 59.1 Interest-bearing assets (net) 242.7 237.2 395.0 158.5 54.1 Net investments in equipment 3.8 1.2 2.0 4.3 0.2 Average number of employees 63 67 68 68 51 –of whom work in R&D 54 60 60 60 43 12 KARO BIO Annual Report 2012
Five-year overview (SEK, unless otherwise stated) 2008 2009 2010 2011 2012 GROUP 1) 2) DATA PER SHARE (SEK) Earnings per share –average number of shares –0.89 –0.78 –0.67 –0.59 –0.25 –number of shares at year-end –0.89 –0.65 –0.42 –0.59 –0.25 Operating cash flow per share –average number of shares –0.97 –0.75 –0.66 –0.52 –0.33 –number of shares at year-end –0.97 –0.62 –0.42 –0.52 –0.33 Equity per share, year end 1.12 0.90 0.88 0.30 0.12 Share price at year end 3) 4.81 4.58 1.97 1.48 0.35 Share price/equity per share at year-end, % 3) 429 507 223 494 295 1) 2) NUMBER OF SHARES (MILLIONS) Average number of shares 195.7 197.5 242.3 387.1 387.1 Average number of shares including warrants 196.9 198.3 243.1 387.3 387.1 Number of shares at year-end 195.7 238.2 387.1 387.1 387.1 Number of shares at year-end including warrants 196.5 239.0 387.8 387.1 387.1 1) The outstanding cash warrants have no dilution effect as their conversion to shares would lead to an improvement in earnings and cash flow per share for the years included. 2) The number of shares for periods prior to rights issues have been adjusted for the bonus element in accordance with IAS 33, Earnings per share. 3) Share price data has been adjusted to reflect new share issues. Definitions CASH AND CASH EQUIVALENTS Cash and bank balances, and short-term investments with maturities of less than 90 days. EARNINGS/LOSS PER SHARE Earnings/loss in relation to the number of shares. EQUITY PER SHARE Shareholders’ equity in relation to outstanding shares at year-end. EQUITY RATIO Equity as a percentage of total assets. INTEREST BEARING ASSETS (NET) Cash, bank balances and short-term investments. NUMBER OF SHARES AT YEAR-END Number of shares outstanding at the end of the year. NUMBER OF SHARES AT YEAR-END, INCLUDING WARRANTS Number of shares, including warrants, outstanding at the end of the year. OPERATING CASH FLOW Cash flow from operating activities and cash flow from investments in machines, equipment and licenses. OPERATING CASH FLOW PER SHARE Cash flow from operating activities and cash flow from investments in equipment and licenses per share. PROFIT MARGIN Results for the year as a percentage of net sales. RETURN ON CAPITAL EMPLOYED Operating loss and financial income as a percentage of the average total assets less non-interest bearing liabilities. RETURN ON EQUITY Results after financial items as a percentage of average equity. SHARE PRICE/EQUITY PER SHARE Share price as a percentage of shareholders’ equity per share at year-end. NET CAPITAL INVESTMENTS Capital investments in equipment net of disposals. OPERATING MARGIN Operating loss as a percentage of net sales. KARO BIO Annual Report 2012 13
Page 1 and 2: Annual Report 2012
Page 3 and 4: About Karo Bio Karo Bio is a resear
Page 5 and 6: Vision, goal, business model and st
Page 7 and 8: CEO commentary Greater flexibility
Page 9 and 10: Project portfolio MK-6913 - collabo
Page 11: The share PRINCIPAL SHAREHOLDERS AT
Page 15 and 16: Administration Report Between 2008
Page 17 and 18: Administration Report MSEK 1.1 of t
Page 19 and 20: acCounts Consolidated statement of
Page 21 and 22: acCounts Consolidated statement of
Page 23 and 24: Accounting and valuation principles
Page 29 and 30: NOTEs Executive management has also
Page 31 and 32: Notes NOTE 8 INTEREST EXPENSE AND O
Page 33 and 34: Notes NOTe 17 CASH AND CASH EQUIVAL
Page 35 and 36: Notes NOTE 26 REMUNERATION TO AUDIT
Page 37 and 38: Notes CURRENCY EFFECT (MSEK) Effect
Page 39 and 40: Auditor’s Report Auditor’s Repo
Page 41 and 42: Corporate Governance Report GENERAL
Page 43 and 44: Corporate Governance Report Executi
Page 45 and 46: Corporate Governance Report Board o
Page 47 and 48: Glossary Glossary AGONIST A compoun

Annual Report 2012.pdf - Karo Bio

You also want an ePaper? Increase the reach of your titles

Delete template?

Save as template?