voxeljet AG Reports Financial Results for the First Quarter Ended March 31, 2021

(1)Comparative figures for the year ended December 31, 2019 were revised related to the amendment of classification of short-term investments. For further information, see Form 20-F filed with the SEC on March 30, 2021, Part III, Item 18. Financial Statements, Note 2 “Preparation of financial statements” to the consolidated financial statements.

(2)Comparative figures for year ended December 31, 2019 were revised related to the recalculation of the performance participation interest related to the Finance Contract with the EIB. For further information, see Form 20-F filed with the SEC on March 30, 2021, Part III, Item 18. Financial Statements, Note 2 “Preparation of financial statements” to the consolidated financial statements.

voxeljet AG

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)

 

 

Three months ended March 31,

 

 

2021

 

2020

 

 

(€ in thousands)

Cash Flow from operating activities

 

 

 

 

 

 

 

 

 

Loss for the period

 

(8,329

)

 

(2,601

)

 

 

 

 

 

Depreciation and amortization

 

786

 

 

932

 

Foreign currency exchange differences on loans to subsidiaries

 

(672

)

 

204

 

Changes in financial assets due to fair value valuation

 

45

 

 

245

 

Share-based compensation expense

 

166

 

 

167

 

Change in impairment of trade receivables

 

(18

)

 

36

 

Non-cash interest expense on long-term debt

 

421

 

 

296

 

Change in fair value of derivative equity forward

 

5,188

 

 

(1,557

)

Loss on disposal of property, plant and equipment and intangible assets

 

1

 

 

--

 

Interest paid

 

67

 

 

85

 

Interest received

 

(30

)

 

(35

)

Other

 

(160

)

 

61

 

 

 

 

 

 

Change in working capital

 

778

 

 

(1,737

)

Trade and other receivables, inventories and current assets

 

(162

)

 

(1,721

)

Trade payables

 

472

 

 

442

 

Other liabilities, contract liabilities and provisions

 

996

 

 

509

 

Change in restricted cash

 

(520

)

 

(947

)

Income tax payable/receivables

 

(8

)

 

(20

)

Total

 

(1,757

)

 

(3,904

)

 

 

 

 

 

Cash Flow from investing activities

 

 

 

 

 

 

 

 

 

Payments to acquire property, plant and equipment and intangible assets

 

(44

)

 

(41

)

Proceeds from disposal of financial assets

 

--

 

 

3,237

 

Payments to acquire financial assets

 

(7,462

)

 

(2

)

Interest received

 

30

 

 

35

 

Total

 

(7,476

)

 

3,229

 

 

 

 

 

 

Cash Flow from financing activities

 

 

 

 

 

 

 

 

 

Proceeds from bank overdrafts and lines of credit

 

--

 

 

4

 

Repayment of lease liabilities

 

(82

)

 

(114

)

Repayment of long-term debt

 

(202

)

 

(231

)

Proceeds from issue of ordinary shares in the form of ADS

 

18,153

 

 

--

 

Share issue cost

 

(2,200

)

 

--

 

Change in restricted cash

 

(2,000

)

 

--

 

Interest paid

 

(67

)

 

(85

)

Total

 

13,602

 

 

(426

)

 

 

 

 

 

Net increase (decrease) in cash and cash equivalents

 

4,369

 

 

(1,101

)

 

 

 

 

 

Cash and cash equivalents at beginning of period

 

5,324

 

 

4,368

 

Changes to cash and cash equivalents due to foreign exchanges rates

 

68

 

 

5

 

Cash and cash equivalents at end of period

 

9,761

 

 

3,272

 

See accompanying notes to unaudited condensed consolidated interim financial statements.

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