ANNUAL REPORT 2012 - TiGenix

11. Consolidated Financial
Statements
11.1. CONSOLIDATED INCOME STATEMENT & STATEMENT OF COMPREHENSIVE INCOME
Years ended December 31
Thousands of Euro (€) Notes 2012 2011* 2010*
CONSOLIDATED INCOME STATEMENT
CONTINUING OPERATIONS
Sales 1 4,084 1,146 621
Gross sales 4,084 1,804 982
Deferred sales and discounts 0 -657 -361
Cost of sales 2 -905 -455 -310
Gross profit 3,179 691 311
Research and development expenses 2 -13,936 -10,595 -10,189
Sales and marketing expenses 2 -2,881 -2,726 -2,707
General and administrative expenses 2 -6,026 -6,593 -5,473
Other operating expenses 2 0 -2,974 0
Total operating charges -23,749 -23,344 -18,679
Other operating income 3 1,389 393 1,802
Operating Result -18,276 -21,805 -16,256
Interest income 4 35 708 141
Interest expenses 4 -61 -408 -62
Foreign exchange differences 4 -142 434 500
Profit/(Loss) before taxes -18,443 -21,071 -15,677
Income taxes 5 -1 0 368
Profit/(Loss) for the period from continuing operations -18,444 -21,071 -15,309
DISCONTINUED OPERATIONS
Profit/(Loss) for the period from discontinued operations 6 -1,949 -16,234 0
Profit/(Loss) for the period -20,393 -37,305 -15,309
Attributable to equity holders of TiGenix NV -20,393 -37,305 -15,309
Basic (diluted) loss per share (EURO) 7 -0,22 -0,54 -0,51
Basic (diluted) loss per share from continuing operations (EURO) -0,20 -0,30 0,50
Years ended December 31
Thousands of Euro (€) 2012 2011* 2010*
STATEMENT OF COMPREHENSIVE INCOME
Net Profit/(Loss) -20,393 -37,305 -15,309
Currency translation differences 41 -238 -376
Other comprehensive income 41 -238 -376
Total comprehensive income -20,352 -37,543 -15,685
Attributable to equity holders of TiGenix NV -20,352 -37,543 -15,685
* The 2010 and 2011 consolidated financial statements have been adjusted to reflect the capitalization of the expenses incurred
that were essential to bring the Dutch manufacturing facility into operations.
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