MGC Pharmaceuticals | 22 October 2018
17
Exhibit 5: Financial summary
A$'000s
2016
2017
2018
2019e
2020e
Year end 30 June
AASB
AASB
AASB
AASB
AASB
PROFIT & LOSS
Sales
2
120
297
2,250
8,934
Other
0
0
0
0
0
Revenue
2
120
297
2,250
8,934
Cost of Sales
(15)
(158)
(119)
(929)
(3,817)
Gross Profit
(13)
(38)
177
1,321
5,117
R&D expenses
0
0
(951)
(1,269)
(5,846)
SG&A expenses
(6,247)
(8,508)
(8,080)
(5,707)
(5,672)
Other
0
0
0
0
0
EBITDA
(6,260)
(8,546)
(8,854)
(5,656)
(6,401)
Operating Profit (before GW and except.)
(6,276)
(8,629)
(9,182)
(5,763)
(6,659)
Intangible Amortisation
0
0
0
0
0
Exceptionals
0
0
0
0
0
Operating Profit
(6,276)
(8,629)
(9,182)
(5,763)
(6,659)
Net Interest
46
127
192
99
34
Profit Before Tax (norm)
(6,230)
(8,502)
(8,990)
(5,664)
(6,625)
Profit Before Tax (reported)
(6,230)
(8,502)
(8,990)
(5,664)
(6,625)
Tax benefit
0
0
0
0
0
Profit After Tax (norm)
(6,230)
(8,502)
(8,990)
(5,664)
(6,625)
Profit After Tax (reported)
(6,230)
(8,502)
(8,990)
(5,664)
(6,625)
Average Number of Shares Outstanding (m)
603.6
966.3
1,125.5
1,257.8
1,312.8
EPS - normalised (c)
(1.03)
(0.88)
(0.80)
(0.45)
(0.50)
EPS - diluted
(1.03)
(0.88)
(0.80)
(0.45)
(0.50)
Dividend per share (A$)
0.0
0.0
0.0
0.0
0.0
BALANCE SHEET
Fixed Assets
7,331
8,335
8,490
10,383
15,125
Intangible Assets
7,084
7,076
7,083
7,083
7,083
Tangible Assets
211
1,258
1,334
3,228
7,970
Investments
36
0
73
73
73
Current Assets
9,030
12,485
11,504
4,955
2,036
Stocks
157
508
712
593
882
Debtors
477
613
932
932
893
Cash
7,896
11,364
9,859
3,430
261
Other
500
0
0
0
0
Current Liabilities
(4,612)
(4,966)
(7,231)
(6,495)
(7,163)
Creditors
(456)
(596)
(961)
(225)
(893)
Short term borrowings
(1,075)
0
0
0
0
Other
(3,080)
(4,370)
(6,270)
(6,270)
(6,270)
Long Term Liabilities
(20)
(65)
(73)
(73)
(6,073)
Long term borrowings
(20)
(20)
(22)
(22)
(6,022)
Other long term liabilities
0
(45)
(51)
(51)
(51)
Net Assets
11,729
15,789
12,691
8,771
3,925
CASH FLOW
Operating Cash Flow
(3,255)
(4,751)
(6,007)
(4,528)
(4,203)
Net Interest
34
95
120
99
34
Tax
0
0
0
0
0
Capex
(248)
(1,131)
(459)
(2,000)
(5,000)
Acquisitions/disposals
0
500
119
0
0
Equity Financing
10,528
9,810
4,701
0
0
Dividends
0
0
0
0
0
Other
(403)
0
0
0
0
Net Cash Flow
6,657
4,523
(1,527)
(6,429)
(9,169)
Opening net debt/(cash)
(146)
(6,800)
(11,344)
(9,837)
(3,408)
HP finance leases initiated
0
0
0
0
0
Other
(3)
21
21
0
0
Closing net debt/(cash)
(6,800)
(11,344)
(9,837)
(3,408)
5,761
Source: MGC Pharmaceutical accounts, Edison Investment Research