MAINZ, Germany, November 6, 2023 (GLOBE NEWSWIRE) -- BioNTech SE (Nasdaq: BNTX, “BioNTech” or “the Company”) today reported financial results for the three and nine months ended September 30, 2023, and provided an update on its corporate progress.
“Over the last quarter, we complemented our investigational pipeline with ADC candidates, initiated later-stage clinical trials and presented significant data across modalities including cancer vaccines, cell therapies, ADCs and immune checkpoint modulators. Our strategy focuses on assembling a diverse toolbox of complementary technologies to deliver novel therapies, aiming to improve the standard-of-care for cancer patients,” said Prof. Ugur Sahin, M.D., CEO and Co-Founder of BioNTech. “We combine our internal innovation engine with a high-performance partnership model to transform healthcare and improve patients' quality of life.”
Financial Review for the Third Quarter and First Nine Months of 2023
in millions €, except per share data | Third Quarter 2023 | Third Quarter 2022 | Nine Months 2023 | Nine Months 2022 |
Total Revenues2 | 895.3 | 3,461.2 | 2,340.0 | 13,032.3 |
Net Profit | 160.6 | 1,784.9 | 472.4 | 7,155.7 |
Diluted Earnings per Share | 0.67 | 6.98 | 1.94 | 27.70 |
Total revenues reported were €895.3 million2 for the three months ended September 30, 2023, compared to €3,461.2 million for the comparative prior year period. For the nine months ended September 30, 2023, total revenues were €2,340.0 million2, compared to €13,032.3 million for the comparative prior year period. Inventory write-downs by BioNTech's collaboration partner Pfizer, Inc. ("Pfizer") reduced BioNTech's revenues by €507.9 million and €615.4 million for the three and nine months ended September 30, 2023, respectively.
Cost of sales were €161.8 million for the three months ended September 30, 2023, compared to €752.8 million for the comparative prior year period. For the nine months ended September 30, 2023, cost of sales were €420.7 million, compared to €2,811.5 million for the comparative prior year period. The change was in line with decreasing COVID-19 vaccine revenues.
Research and development (R&D) expenses were €497.9 million for the three months ended September 30, 2023, compared to €341.8 million for the comparative prior year period. For the nine months ended September 30, 2023, research and development expenses were €1,205.3 million, compared to €1,027.2 million for the comparative prior year period. Research and Development expenses are mainly influenced by progressing clinical studies for pipeline candidates, the development of variant adapted as well as next generation COVID-19 vaccines and expanding R&D headcount.
General and administrative (G&A) expenses were €144.5 million for the three months ended September 30, 2023, compared to €141.0 million for the comparative prior year period. For the nine months ended September 30, 2023, G&A expenses were €386.6 million, compared to €361.8 million for the comparative prior year period. G&A expenses were mainly influenced by increased expenses for IT services as well as expanding the G&A headcount.
Income taxes were accrued in an amount of €66.8 million for the three months ended September 30, 2023, compared to €659.2 million accrued for the comparative prior year period. For the nine months ended September 30, 2023, income taxes were accrued with an amount of €50.5 million, compared to €2,625.8 million accrued for the comparative prior year period. The derived annual effective income tax rate for the nine months ended September 30, 2023, was 9.7% which is expected to change over the 2023 financial year to be in line with the updated estimated annual cash effective income tax rate of somewhere around 21% for the BioNTech Group.
Net profit was €160.6 million for the three months ended September 30, 2023, compared to €1,784.9 million for the comparative prior year period. For the nine months ended September 30, 2023, net profit was €472.4 million, compared to €7,155.7 million net profit for the comparative prior year period.
Cash and cash equivalents as well as security investments were €16,967.6 million, comprising €13,495.8 million cash and cash equivalents and €3,471.8 million security investments, respectively, as of September 30, 2023. Subsequent to the end of the reporting period, as of October 16, 2023, a payment of €565.0 million was received from BioNTech's collaboration partner, settling BioNTech’s gross profit share for the second quarter of 2023 (as defined by the contract with Pfizer).
Diluted earnings per share was €0.67 for the three months ended September 30, 2023, compared to a diluted earnings per share €6.98 for the comparative prior year period. For the nine months ended September 30, 2023, diluted earnings per share was €1.94, compared to €27.70 diluted earnings per share for the comparative prior year period.
Shares outstanding as of September 30, 2023, were 237,715,500, excluding 10,836,700 shares in treasury.
In March 2023, BioNTech initiated a new share repurchase program pursuant to which the Company was able to purchase American Depositary Shares, or ADSs, each representing one ordinary share of the Company, in the amount of up to $0.5 billion during the remainder of 2023. During the three months ended September 30, 2023, 3,114,280 ADSs were repurchased under the share repurchase program at an average price of €97.15 ($106.923), for total consideration of €302.5 million ($333.1 million3). The trading plan for BioNTech's 2023 program concluded on September 18, 2023.
“In the third quarter, we continued to invest in our capabilities and our portfolio of innovative product candidates while strengthening the financial position of BioNTech. About €17 billion in cash and security investments provide strategic flexibility and is a major strength, especially in these days, where financial stability is key,” said Jens Holstein, CFO of BioNTech. “We updated our financial guidance for the full year 2023. In line with anticipated revenues of around €4 billion, we reduced relevant cost drivers for 2023 as we effectively manage our expenditures.”
Outlook updated for the 2023 Financial Year
The Company updated its COVID-19 vaccine revenue guidance and updates its previous expense and capex guidance for the 2023 financial year:
BioNTech COVID-19 Vaccine Revenues for the 2023 Financial Year:
Initial Guidance Mar 2023 | Updated Guidance Nov 2023 | |
Estimated BioNTech COVID-19 vaccine revenues for the full 2023 financial year | ~ €5 billion | ~ €4 billion |
The revenues estimate reflects expected revenues related to BioNTech’s share of gross profit from COVID-19 vaccine sales in the collaboration partners’ territories, from direct COVID-19 vaccine sales to customers in BioNTech’s territory and expected revenues generated from products manufactured by BioNTech and sold to collaboration partners.
Revenue guidance is based on various assumptions. These include, but are not limited to, expectations regarding: transitions in the purchasing environment; the timing and receipt of regulatory approvals and recommendations; the progress of vaccination campaigns; and seasonal variations in SARS-CoV-2 circulation and vaccination uptake.
Several factors drive the Company’s adjusted revenue guidance. Such factors include BioNTech’s and Pfizer’s lower than previously forecast revenue expectations for the full 2023 financial year, which take into account delays in the expected timing of regulatory approvals, as well as the effects of Pfizer’s recently-announced write-downs and other charges.
While fewer primary vaccinations and lower population-wide levels of boosting are anticipated overall compared to the same period in prior years, vaccine adaptation and seasonal trends are expected to lead to demand peaks in the autumn and winter compared to other seasons. As a result of later-than-anticipated regulatory approvals and their effect on national vaccination campaign timelines, expected sales have shifted to future periods. In general, the Company continues to remain largely dependent on revenues generated in its collaboration partner’s territories.
In addition, BioNTech's revenues have been affected by the inventory write-downs and other charges related to COMIRNATY that were previously announced by the Company’s collaboration partner Pfizer. As a result of the Company’s continued assessment of these write-downs and other charges, the Company has determined that the charges originating on BioNTech’s end had largely already been reflected in the Company’s financial results for the 2022 financial year, and to a smaller extent, continued to be reflected during 2023. Ultimately, the initial estimate of “up to €0.9 billion” impact has been refined by the Company. The impact from the collaboration partner's charges onto the Company's revenues has been identified to be €0.6 billion for the nine months ended September 30, 2023 and €0.5 billion for the three months ended September 30, 2023, which is reflected in the revised revenues guidance.
Planned 2023 Financial Year Expenses and Capex4:
Initial Guidance Mar 2023 | Updated Guidance Nov 2023 | |
R&D expenses5 | €2,400m - €2,600m | €1,800m - €2,000m |
SG&A expenses | €650m - €750m | €600m - €650m |
Capital expenditures for operating activities6 | €500m - €600m | €200m - €300m |
Estimated 2023 Financial Year Tax Assumptions:
Initial Guidance Mar 2023 | Updated Guidance Nov 2023 | |
BioNTech Group estimated annual cash effective income tax rate7 | ~ 27% | ~ 21% |
The full interim unaudited condensed consolidated financial statements can be found in BioNTech's Report on Form 6-K for the period ended September 30, 2023, filed today with the United States Securities and Exchange Commission ("SEC") and available at https://www.sec.gov/.
Endnotes
1Financial information is prepared and presented in Euros and numbers are rounded to millions and billions of Euros in accordance with standard commercial practice.
2BioNTech’s profit share is estimated based on preliminary data shared between Pfizer and BioNTech as further described in the Annual Report. Any changes in the estimated share of the collaboration partner’s gross profit will be recognized prospectively.
3Calculated applying the average foreign exchange rate for the nine months ended September 30, 2023, as published by the German Central Bank (Deutsche Bundesbank).
4Numbers reflect current base case projections and are calculated based on constant currency rates. Excluding external risks that are not yet known and/or quantifiable, including, but not limited to, the effects of ongoing and/or future legal disputes or related activity.
5Numbers include effects identified from additional collaborations or potential M&A transactions to the extent disclosed and will be updated as needed.
6Numbers exclude potential effects caused by or driven from collaborations or M&A transactions.
7Numbers exclude potential effects caused by or driven from share-based payment settlements in the course of 2023.
Operational Review and Pipeline Update for the Third Quarter 2023 and Key Post Period-End Events
COVID-19 Vaccine Marketed Products
Select Oncology Pipeline Highlights - Recent and upcoming trial starts and data readouts
Antibody-Drug Conjugate (ADC) Pipeline
BioNTech's pipeline comprises several ADCs that are based on a topoisomerase I inhibitor as payload.
BNT323/DB-1303 is an HER2-targeted ADC candidate being developed in collaboration with Duality Biologics (Suzhou) Co. Ltd. (“DualityBio”).
BNT324/DB-1311 is an ADC candidate being developed in collaboration with DualityBio.
BNT325/DB-1305 is a TROP-2-targeted ADC candidate being developed in collaboration with DualityBio.
BNT326/YL202 is a HER3-targeted ADC candidate being developed in collaboration with MediLink Therapeutics (Suzhou) Co., Ltd. (“MediLink”).
Next-Generation Immune Checkpoint Immunomodulator Pipeline
BNT316/ONC-392 (gotistobart) is an anti-CTLA-4 monoclonal antibody candidate being developed in collaboration with OncoC4, Inc. (“OncoC4”). BNT316/ONC-392 (gotistobart) is designed to offer a differentiated safety profile that may allow for higher dosing and longer duration of treatment both as monotherapy and in combination with other therapies.
BNT312/GEN1042 is a bispecific antibody candidate based on Genmab A/S (“Genmab”)'s DuoBody technology and designed to induce conditional immune activation by crosslinking CD40 and 4-1BB positive cells.
BNT314/GEN1059 is a bispecific antibody candidate designed to boost antitumor immune responses through EpCAM-dependent 4-1BB agonistic activity. This is the fifth drug candidate under BioNTech's collaboration with Genmab where the development costs and potential future profits will be shared equally.
Cancer Vaccines Pipeline
BNT116 is based on BioNTech’s FixVac platform, and is a wholly owned, systemically administered, off-the-shelf mRNA-based cancer vaccine candidate. This candidate is being evaluated for the treatment of advanced NSCLC.
BNT122 (Autogene cevumeran) is an mRNA cancer vaccine candidate based on an individualized neoantigen-specific immunotherapy (iNeST) approach being developed in collaboration with Genentech, Inc. (“Genentech”), a member of the Roche Group (“Roche”).
Cell Therapy Pipeline
BNT211 is an autologous Claudin-6 (CLDN6)-targeting chimeric antigen receptor (CAR) T cell therapy candidate that is being tested alone and in combination with a CAR-T cell Amplifying RNA Vaccine (“CARVac”), encoding CLDN6.
BNT221 is an autologous, fully personalized, polyspecific T-cell therapy candidate directed against selected sets of individual neoantigens. BNT221 is based on expanded neoantigen-specific memory T cells and induced naive T cells.
Select Infectious Pipeline Highlights - Recent trial starts and data readouts
COVID-19-Influenza Combination mRNA Vaccine Program – BNT162b2 + BNT161
Mpox Program - BNT166
The BNT166 vaccine candidates encode surface antigens that are expressed in the two infectious forms of the mpox virus (MPXV) with the aim to efficiently fight virus replication and infectivity. In partnership with the Coalition for Epidemic Preparedness Innovations (CEPI), BNT166 is part of BioNTech’s infectious disease vaccine programs aiming to help provide equitable access to effective and well-tolerated vaccines for high medical need indications.
Corporate Update for the Third Quarter 2023 and Key Post Period-End Events
Upcoming Investor and Analyst Events
Conference Call and Webcast Information
BioNTech invites investors and the general public to join a conference call and webcast with investment analysts today, November 6, 2023, at 8.00 a.m. ET (2.00 p.m. CET) to report its financial results and provide a corporate update for the third quarter of 2023.
To access the live conference call via telephone, please register via this link. Once registered, dial-in numbers and a pin number will be provided.
The slide presentation and audio of the webcast will be available via this link.
Participants may also access the slides and the webcast of the conference call via the “Events & Presentations” page of the Investor Relations section of the Company’s website at https://biontech.com. A replay of the webcast will be available shortly after the conclusion of the call and archived on the Company’s website for 30 days following the call.
About BioNTech
Biopharmaceutical New Technologies (BioNTech) is a next generation immunotherapy company pioneering novel therapies for cancer and other serious diseases. The Company exploits a wide array of computational discovery and therapeutic drug platforms for the rapid development of novel biopharmaceuticals. Its broad portfolio of oncology product candidates includes individualized and off-the-shelf mRNA-based therapies, innovative chimeric antigen receptor (CAR) T cells, several protein-based therapeutics, including bispecific immune checkpoint modulators, targeted cancer antibodies and antibody-drug conjugate (ADC) therapeutics, as well as small molecules. Based on its deep expertise in mRNA vaccine development and in-house manufacturing capabilities, BioNTech and its collaborators are developing multiple mRNA vaccine candidates for a range of infectious diseases alongside its diverse oncology pipeline. BioNTech has established a broad set of relationships with multiple global pharmaceutical collaborators, including Duality Biologics, Fosun Pharma, Genentech, a member of the Roche Group, Genevant, Genmab, OncoC4, Regeneron, Sanofi and Pfizer.
For more information, please visit www.BioNTech.com.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended, including, but not limited to, statements concerning: BioNTech's expected revenues and net profit related to sales of BioNTech's COVID-19 vaccine, referred to as COMIRNATY where approved for use under full or conditional marketing authorization, in territories controlled by BioNTech's collaboration partners, particularly for those figures that are derived from preliminary estimates provided by BioNTech's partners; the rate and degree of market acceptance of BioNTech's COVID-19 vaccine and, if approved, BioNTech's investigational medicines; expectations regarding anticipated changes in COVID-19 vaccine demand, including changes to the ordering environment and expected regulatory recommendations to adapt vaccines to address new variants or sublineages; the initiation, timing, progress, results, and cost of BioNTech's research and development programs, including those relating to additional formulations of BioNTech's COVID-19 vaccine, and BioNTech's current and future preclinical studies and clinical trials, including statements regarding the timing of initiation and completion of studies or trials and related preparatory work and the availability of results; our expectations with respect to our intellectual property; the impact of the Company’s acquisition of InstaDeep Ltd. and the Company's collaboration and licensing agreements; the development of sustainable vaccine production and supply solutions, and the nature and feasibility of these solutions; and BioNTech's estimates of commercial and other revenues, cost of sales, research and development expenses, sales and marketing expenses, general and administrative expenses, capital expenditures, income taxes, net profit, cash, cash equivalents and security investments, shares outstanding and cash outflows and share consideration. In some cases, forward-looking statements can be identified by terminology such as “will,” “may,” “should,” “expects,” “intends,” “plans,” “aims,” “anticipates,” “believes,” “estimates,” “predicts,” “potential,” “continue,” or the negative of these terms or other comparable terminology, although not all forward-looking statements contain these words. The forward-looking statements in this press release are neither promises nor guarantees, and you should not place undue reliance on these forward-looking statements because they involve known and unknown risks, uncertainties, and other factors, many of which are beyond BioNTech’s control and which could cause actual results to differ materially from those expressed or implied by these forward-looking statements. These risks and uncertainties include, but are not limited to: BioNTech's pricing and coverage negotiations with governmental authorities, private health insurers and other third-party payors after BioNTech's initial sales to national governments; the future commercial demand and medical need for initial or booster doses of a COVID-19 vaccine; competition from other COVID-19 vaccines or related to BioNTech's other product candidates, including those with different mechanisms of action and different manufacturing and distribution constraints, on the basis of, among other things, efficacy, cost, convenience of storage and distribution, breadth of approved use, side-effect profile and durability of immune response; the timing of and BioNTech's ability to obtain and maintain regulatory approval for BioNTech's product candidates; the ability of BioNTech’s COVID-19 vaccines to prevent COVID-19 caused by emerging virus variants; BioNTech's and its counterparties’ ability to manage and source necessary energy resources; BioNTech's ability to identify research opportunities and discover and develop investigational medicines; the ability and willingness of BioNTech's third-party collaborators to continue research and development activities relating to BioNTech's development candidates and investigational medicines; the impact of the COVID-19 pandemic on BioNTech's development programs, supply chain, collaborators and financial performance; unforeseen safety issues and potential claims that are alleged to arise from the use of BioNTech's COVID-19 vaccine and other products and product candidates developed or manufactured by BioNTech; BioNTech's and its collaborators’ ability to commercialize and market BioNTech's COVID-19 vaccine and, if approved, its product candidates; BioNTech's ability to manage its development and expansion; regulatory developments in the United States and other countries; BioNTech's ability to effectively scale BioNTech's production capabilities and manufacture BioNTech's products, including BioNTech's target COVID-19 vaccine production levels, and BioNTech's product candidates; risks relating to the global financial system and markets; and other factors not known to BioNTech at this time. You should review the risks and uncertainties described under the heading “Risk Factors” in BioNTech's Report on Form 6-K for the period ended September 30, 2023 and in subsequent filings made by BioNTech with the SEC, which are available on the SEC’s website at https://www.sec.gov/. Except as required by law, BioNTech disclaims any intention or responsibility for updating or revising any forward-looking statements contained in this press release in the event of new information, future developments or otherwise. These forward-looking statements are based on BioNTech’s current expectations and speak only as of the date hereof.
CONTACTS
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Victoria Meissner, M.D.
+1 617 528 8293
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Interim Consolidated Statements of Profit or Loss
Three months ended September 30, | Nine months ended September 30, | |||
2023 | 2022 | 2023 | 2022 | |
(in millions €, except per share data) | (unaudited) | (unaudited) | (unaudited) | (unaudited) |
Revenues | ||||
Commercial revenues | 893.7 | 3,394.8 | 2,336.6 | 12,923.3 |
Research & development revenues | 1.6 | 66.4 | 3.4 | 109.0 |
Total revenues | 895.3 | 3,461.2 | 2,340.0 | 13,032.3 |
Cost of sales | (161.8) | (752.8) | (420.7) | (2,811.5) |
Research and development expenses | (497.9) | (341.8) | (1,205.3) | (1,027.2) |
Sales and marketing expenses | (14.4) | (12.8) | (44.7) | (44.9) |
General and administrative expenses | (144.5) | (141.0) | (386.6) | (361.8) |
Other operating expenses | (31.4) | (285.1) | (223.7) | (594.6) |
Other operating income | 27.8 | 459.8 | 105.2 | 1,157.5 |
Operating income | 73.1 | 2,387.5 | 164.2 | 9,349.8 |
Finance income | 156.3 | 60.9 | 363.2 | 448.5 |
Finance expenses | (2.0) | (4.3) | (4.5) | (16.8) |
Profit before tax | 227.4 | 2,444.1 | 522.9 | 9,781.5 |
Income taxes | (66.8) | (659.2) | (50.5) | (2,625.8) |
Profit for the period | 160.6 | 1,784.9 | 472.4 | 7,155.7 |
Earnings per share | ||||
Basic earnings for the period per share | 0.67 | 7.43 | 1.96 | 29.47 |
Diluted earnings for the period per share | 0.67 | 6.98 | 1.94 | 27.70 |
Interim Consolidated Statements of Financial Position
September 30, | December 31, | ||
(in millions €) | 2023 | 2022 | |
Assets | (unaudited) | ||
Non-current assets | |||
Intangible assets | 665.5 | 158.5 | |
Goodwill | 365.6 | 61.2 | |
Property, plant and equipment | 728.9 | 609.2 | |
Right-of-use assets | 197.0 | 211.9 | |
Other financial assets | 1,292.7 | 80.2 | |
Other non-financial assets | 0.3 | 6.5 | |
Deferred tax assets | 208.1 | 229.6 | |
Total non-current assets | 3,458.1 | 1,357.1 | |
Current assets | |||
Inventories | 415.7 | 439.6 | |
Trade and other receivables | 2,002.0 | 7,145.6 | |
Contract assets | 6.8 | — | |
Other financial assets | 2,253.3 | 189.4 | |
Other non-financial assets | 286.2 | 271.9 | |
Income tax assets | 289.3 | 0.4 | |
Cash and cash equivalents | 13,495.8 | 13,875.1 | |
Total current assets | 18,749.1 | 21,922.0 | |
Total assets | 22,207.2 | 23,279.1 | |
Equity and liabilities | |||
Equity | |||
Share capital | 248.6 | 248.6 | |
Capital reserve | 1,228.4 | 1,828.2 | |
Treasury shares | (10.8) | (5.3) | |
Retained earnings | 19,305.4 | 18,833.0 | |
Other reserves | (904.8) | (848.9) | |
Total equity | 19,866.8 | 20,055.6 | |
Non-current liabilities | |||
Lease liabilities, loans and borrowings | 161.9 | 176.2 | |
Other financial liabilities | 38.5 | 6.1 | |
Income tax liabilities | — | 10.4 | |
Provisions | 8.6 | 8.6 | |
Contract liabilities | 268.0 | 48.4 | |
Other non-financial liabilities | 13.1 | 17.0 | |
Deferred tax liabilities | 43.1 | 6.2 | |
Total non-current liabilities | 533.2 | 272.9 | |
Current liabilities | |||
Lease liabilities, loans and borrowings | 40.0 | 36.0 | |
Trade payables and other payables | 222.7 | 204.1 | |
Other financial liabilities | 321.6 | 785.1 | |
Refund liabilities | — | 24.4 | |
Income tax liabilities | 545.2 | 595.9 | |
Provisions | 318.0 | 367.2 | |
Contract liabilities | 167.1 | 77.1 | |
Other non-financial liabilities | 192.6 | 860.8 | |
Total current liabilities | 1,807.2 | 2,950.6 | |
Total liabilities | 2,340.4 | 3,223.5 | |
Total equity and liabilities | 22,207.2 | 23,279.1 |
Interim Consolidated Statements of Cash Flows
Three months ended September 30, | Nine months ended September 30, | ||||
2023 | 2022 | 2023 | 2022 | ||
(in millions €) | (unaudited) | (unaudited) | (unaudited) | (unaudited) | |
Operating activities | |||||
Profit for the period | 160.6 | 1,784.9 | 472.4 | 7,155.7 | |
Income taxes | 66.8 | 659.2 | 50.5 | 2,625.8 | |
Profit before tax | 227.4 | 2,444.1 | 522.9 | 9,781.5 | |
Adjustments to reconcile profit before tax to net cash flows: | |||||
Depreciation and amortization of property, plant, equipment, intangible assets and right-of-use assets | 41.3 | 33.5 | 104.6 | 94.3 | |
Share-based payment expenses | 15.5 | 61.4 | 37.2 | 86.4 | |
Net foreign exchange differences | (20.4) | 116.2 | (364.3) | (222.3) | |
Loss on disposal of property, plant and equipment | 3.3 | 0.2 | 3.6 | 0.4 | |
Finance income excluding foreign exchange differences | (148.5) | (7.7) | (357.4) | (226.5) | |
Finance expense excluding foreign exchange differences | 2.0 | 4.3 | 4.5 | 16.8 | |
Movements in government grants | — | — | (3.0) | — | |
Unrealized net (gain) / loss on derivative instruments at fair value through profit or loss | (3.5) | (2.3) | 84.7 | 82.3 | |
Working capital adjustments: | |||||
Decrease in trade and other receivables, contract assets and other assets | 631.2 | 2,245.4 | 6,648.6 | 5,016.7 | |
Decrease in inventories | 33.2 | 72.9 | 23.9 | 207.7 | |
(Decrease) / increase in trade payables, other financial liabilities, other liabilities, contract liabilities, refund liabilities and provisions | (25.0) | 565.9 | (293.9) | 760.3 | |
Interest received | 70.3 | 4.3 | 166.4 | 6.5 | |
Interest paid | (1.2) | (4.3) | (3.7) | (16.5) | |
Income tax paid | (10.2) | (753.3) | (1,292.4) | (2,834.7) | |
Share-based payments | (4.2) | (1.7) | (761.2) | (4.7) | |
Net cash flows from operating activities | 811.2 | 4,778.9 | 4,520.5 | 12,748.2 | |
Investing activities | |||||
Purchase of property, plant and equipment | (53.2) | (77.9) | (165.6) | (192.6) | |
Proceeds from sale of property, plant and equipment | (0.8) | 0.4 | (0.8) | 0.4 | |
Purchase of intangible assets and right-of-use assets | (97.2) | (4.7) | (348.9) | (26.2) | |
Acquisition of subsidiaries and businesses, net of cash acquired | (336.9) | — | (336.9) | — | |
Investment in other financial assets | (744.1) | (1.1) | (3,407.2) | (31.1) | |
Proceeds from maturity of other financial assets | — | — | — | 375.2 | |
Net cash flows from / (used in) investing activities | (1,232.2) | (83.3) | (4,259.4) | 125.7 | |
Financing activities | |||||
Proceeds from issuance of share capital and treasury shares, net of costs | — | — | — | 110.5 | |
Proceeds from loans and borrowings | 0.1 | 0.4 | 0.1 | 0.6 | |
Repayment of loans and borrowings | (0.1) | — | (0.1) | (18.8) | |
Payments related to lease liabilities | (9.3) | (10.0) | (28.0) | (31.9) | |
Share repurchase program | (301.7) | (643.8) | (737.7) | (930.7) | |
Dividends | — | — | — | (484.3) | |
Net cash flows used in financing activities | (311.0) | (653.4) | (765.7) | (1,354.6) | |
Net increase / (decrease) in cash and cash equivalents | (732.0) | 4,042.2 | (504.6) | 11,519.3 | |
Change in cash and cash equivalents resulting from exchange rate differences and other valuation effects | 61.2 | 46.7 | 125.3 | 211.7 | |
Cash and cash equivalents at the beginning of the period | 14,166.6 | 9,334.8 | 13,875.1 | 1,692.7 | |
Cash and cash equivalents as of September 30 | 13,495.8 | 13,423.7 | 13,495.8 | 13,423.7 |
Last Trade: | US$89.94 |
Daily Change: | -0.21 -0.23 |
Daily Volume: | 628,311 |
Market Cap: | US$21.390B |
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