Financial risk management (Tables)
|
12 Months Ended |
Dec. 31, 2021 |
|---|
| Financial Risks Management [Abstract] |
|
| Schedule of Sensitivity of Profit or Loss to Changes in Exchange Rates |
The sensitivity of profit or loss to changes in the exchange rates arises mainly from CHF- and EUR-denominated financial instruments held at the end of the reported periods.
|
CHF positions |
|
Increase /decrease
exchange rate vs USD |
|
|
Effect on profit before tax
(in USD ‘000) |
|
|
Effect on shareholders’ equity
(in USD ‘000) |
|
|
2021 |
|
|
+5 |
% |
|
|
(498 |
) |
|
|
(498 |
) |
|
|
|
|
-5 |
% |
|
|
498 |
|
|
|
498 |
|
|
2020 |
|
|
+5 |
% |
|
|
(688 |
) |
|
|
(688 |
) |
|
|
|
|
-5 |
% |
|
|
688 |
|
|
|
688 |
|
|
EUR positions |
|
Increase /decrease
exchange rate vs USD |
|
|
Effect on profit before tax
(in USD ‘000) |
|
|
Effect on shareholders’ equity
(in USD ‘000) |
|
|
2021 |
|
|
+5 |
% |
|
|
83 |
|
|
|
83 |
|
|
|
|
|
-5 |
% |
|
|
(83 |
) |
|
|
(83 |
) |
|
2020 |
|
|
+5 |
% |
|
|
26 |
|
|
|
26 |
|
|
|
|
|
-5 |
% |
|
|
(26 |
) |
|
|
(26 |
) |
|
| Schedule of Sensitivity to Changes in Market Interest Rates |
The below table shows sensitivity to changes in market interest rates for the Group’s debt instruments.
|
|
|
Impact on loss before taxes |
|
|
in USD ‘000 |
|
2021 |
|
|
2020 |
|
|
Interest rates - increase by 100 basis points |
|
|
- |
|
|
|
(14 |
) |
|
Interest rates - decrease by 100 basis points |
|
|
- |
|
|
|
- |
|
|
| Schedule of Reconciliation of Net Debt Position |
A reconciliation of the net debt position is shown in the table below.
|
(in USD ’000) |
|
Borrowings |
|
|
Lease liabilities |
|
|
Total liabilities from financing activities |
|
|
Cash and cash equivalents |
|
|
Total |
|
|
Net debt as of December 31, 2019 |
|
|
(25,104 |
) |
|
|
(2,159 |
) |
|
|
(27,263 |
) |
|
|
69,370 |
|
|
|
42,107 |
|
|
Cash flows |
|
|
2,206 |
|
|
|
722 |
|
|
|
2,928 |
|
|
|
(38,522 |
) |
|
|
(35,594 |
) |
|
Interest expense |
|
|
(2,589 |
) |
|
|
(92 |
) |
|
|
(2,681 |
) |
|
|
- |
|
|
|
(2,681 |
) |
|
Foreign exchange adjustments |
|
|
- |
|
|
|
(119 |
) |
|
|
(119 |
) |
|
|
335 |
|
|
|
216 |
|
|
Net debt as of December 31, 2020 |
|
|
(25,487 |
) |
|
|
(1,648 |
) |
|
|
(27,135 |
) |
|
|
31,183 |
|
|
|
4,048 |
|
|
Cash flows |
|
|
2,728 |
|
|
|
744 |
|
|
|
3,472 |
|
|
|
22,986 |
|
|
|
26,458 |
|
|
Interest expense |
|
|
(2,974 |
) |
|
|
(61 |
) |
|
|
(3,035 |
) |
|
|
- |
|
|
|
(3,035 |
) |
|
Foreign exchange adjustments |
|
|
- |
|
|
|
39 |
|
|
|
39 |
|
|
|
565 |
|
|
|
604 |
|
|
Net debt as of December 31, 2021 |
|
|
(25,733 |
) |
|
|
(926 |
) |
|
|
(26,659 |
) |
|
|
54,734 |
|
|
|
28,075 |
|
|
| Summary of Maturity Profile of Financial Liabilities |
In addition, the maturity profile of the Group’s financial liabilities is presented in the table below.
|
(in USD ’000) |
|
Carrying amount |
|
|
Total undiscounted cash flows |
|
|
up to 1 year |
|
|
1 to 5 years |
|
|
Maturities more than 5 years |
|
|
Trade and other payables |
|
|
(7,716 |
) |
|
|
(7,716 |
) |
|
|
(7,716 |
) |
|
|
- |
|
|
|
- |
|
|
Borrowings |
|
|
(25,733 |
) |
|
|
(39,824 |
) |
|
|
(2,992 |
) |
|
|
(36,832 |
) |
|
|
- |
|
|
Lease liabilities |
|
|
(926 |
) |
|
|
(955 |
) |
|
|
(712 |
) |
|
|
(243 |
) |
|
|
- |
|
|
Total as of December 31, 2021 |
|
|
(34,375 |
) |
|
|
(48,495 |
) |
|
|
(11,420 |
) |
|
|
(37,075 |
) |
|
|
- |
|
|
(in USD ’000) |
|
Carrying amount |
|
|
Total undiscounted cash flows |
|
|
up to 1 year |
|
|
1 to 5 years |
|
|
Maturities more than 5 years |
|
|
Trade and other payables |
|
|
(9,450 |
) |
|
|
(9,450 |
) |
|
|
(9,450 |
) |
|
|
- |
|
|
|
- |
|
|
Borrowings |
|
|
(25,487 |
) |
|
|
(32,646 |
) |
|
|
(2,200 |
) |
|
|
(30,446 |
) |
|
|
- |
|
|
Lease liabilities |
|
|
(1,648 |
) |
|
|
(1,738 |
) |
|
|
(758 |
) |
|
|
(980 |
) |
|
|
- |
|
|
Total as of December 31, 2020 |
|
|
(36,585 |
) |
|
|
(43,834 |
) |
|
|
(12,408 |
) |
|
|
(31,426 |
) |
|
|
- |
|
|