Attached files
| file | filename |
|---|---|
| EX-99.3 - EXHIBIT 99.3 - NATUS MEDICAL INC | exhibit993-unauditedprofor.htm |
| EX-99.1 - EXHIBIT 99.1 - NATUS MEDICAL INC | exhibit991gnotometrics20.htm |
| EX-23.1 - EXHIBIT 23.1 - NATUS MEDICAL INC | exhibit231-ey8xka.htm |
| 8-K/A - 8-K/A - NATUS MEDICAL INC | a20178-kagnotometricsacqui.htm |
Interim report
Unaudited Combined financial statements for GN Otometrics A/S
(carve-out of the Otometrics business from GN Store Nord A/S)
for the period January 1 2016 to June 30 2016
Otometrics A/S
Hoerskaetten 9
DK-2630 Taastrup
Denmark
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Exhibit 99.2Unaudited Combined Financial Statements
UNAUDITED COMBINED FINANCIAL STATEMENTS
Accounting policies
This combined interim report has been prepared in accordance with IAS 34 “Interim Financial Reporting” as issued by the
International Accounting Standards Board.
New standards, interpretations and amendments adopted by GN Otometrics
As of January 1, 2016, GN Otometrics adopted all relevant new or revised International Financial Reporting Standards and
IFRIC Interpretations with effective date January 1, 2016 or earlier, including those specified in note 1.1 in the combined
financial statements 2015. The new or revised Standards and Interpretations did not affect recognition and measurement
materially or result in any material changes to disclosures in the notes. The accounting policies applied are unchanged
from those applied in the combined financial statements 2015.
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COMBINED INCOME STATEMENT
June YTD June YTD
DKK million 2016 2015
Revenue 315 309
Production costs (156) (142)
Gross profit 159 167
Development costs (25) (23)
Selling and distribution costs (87) (75)
Management and administrative expenses (20) (44)
Operating profit (loss) 27 25
Financial income 3 6
Financial expenses (5) (3)
Profit (loss) before tax 25 28
Tax on profit (loss) (9) (9)
Profit (loss) for the year 16 19
COMBINED STATEMENT OF COMPREHENSIVE INCOME
June YTD June YTD
DKK million 2016 2015
Profit (loss) for the year 16 19
Other comprehensive income
Items that may be reclassified subsequently to profit or loss
Foreign exchange adjustments, etc. (4) 16
Tax relating to these items of other comprehensive income - -
Other comprehensive income for the year, net of tax (4) 16
Total comprehensive income for the year 12 35
UNAUDITED COMBINED FINANCIAL STATEMENTS
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COMBINED BALANCE SHEET AT JUNE 30
June 30 June 30
DKK million 2016 2015
ASSETS
Intangible assets 480 336
Property, plant and equipment 22 21
Deferred tax assets 23 3
Owed by associates 46 74
Total non-current assets 571 434
Inventories 128 138
Trade receivables 117 124
Tax receivables 1 -
Other receivables 18 29
Cash and cash equivalents 32 31
Total current assets 296 322
Total assets 867 756
NET INVESTED CAPITAL AND LIABILITIES
Net invested capital 431 410
Pension obligations 2 2
Provisions 7 7
Deferred tax liabilities 66 47
Non-current paybles to the GN Group 22 28
Total non-current liabilities 97 84
Bank loans 1 -
Current payables to the GN Group 234 144
Trade payables 34 47
Tax payables 10 10
Provisions 7 11
Other payables 53 50
Total current liabilities 339 262
Total net invested capital and liabilities 867 756
UNAUDITED COMBINED FINANCIAL STATEMENTS
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COMBINED STATEMENT OF CASH FLOW
June YTD June YTD
DKK million 2016 2015
Operating activities
Operating profit (loss) 27 25
Depreciation, amortization and impairment 25 23
Other non-cash adjustments (8) 8
Cash flow from operating activities before changes in working capital 44 56
Change in inventories 8 (14)
Change in receivables 15 (6)
Change in trade payables and other payables (23) 6
Total changes in working capital - (14)
Cash flow from operating activities before financial items and tax 44 42
Interest etc. paid (2) (3)
Tax paid, net (2) (4)
Cash flow from operating activities 40 35
Investing activities
Investments in intangible assets, excluding development projects (8) -
Development projects (44) (31)
Investments in property, plant and equipment (5) (5)
Investments in other non-current assets (18) -
Disposal/repayment of other non-current assets - 64
Acquisition of companies/operations - (6)
Cash flow from investing activities (75) 22
Cash flow from operating and investing activities (free cash flow) (35) 57
Financing activities
Increase/(decrease) of long-term loans - (2)
Increase/(decrease) of short-term loans (1) (1)
Increase/(decrease) in payables to the GN Group and other adjustments 54 (48)
Cash flow from financing activities 53 (51)
Net cash flow 18 6
Cash and cash equivalents, beginning of period 15 25
Adjustment foreign currency, cash and cash equivalents (1) -
Cash and cash equivalents, end of period 32 31
UNAUDITED COMBINED FINANCIAL STATEMENTS
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COMBINED CHANGES IN NET INVESTED CAPITAL STATEMENT
June YTD June YTD
DKK million 2016 2015
Balance at January 1 404 206
Contributed operations - 160
Profit (loss) for the year 16 19
Other comprehensive income for the year, net of tax (4) 16
Other adjustments 15 9
Balance at June 30 431 410
UNAUDITED COMBINED FINANCIAL STATEMENTS
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