Registration statement for securities of certain foreign private issuers

Segment Information

v3.21.2
Segment Information
 6 Months Ended 12 Months Ended
Jun. 30, 2021
Dec. 31, 2020
Text block [abstract]    
Segment Information
6.
Segment Information
Below is a summary of the Group’s segments and a reconciliation between the results from operations as per segment information and the results from operations as per the Consolidated Statements of Profit and Loss.
 
    
Six Months Ended June 30, 2021
  
    
UK
     
US
     
All other
segments
    
Total
segments
    
Reconciliation
adjustments
    
Total

as per
statement
of profit
and loss
  
    
$’000
     
$’000
     
$’000
    
$’000
    
$’000
    
$’000
  
Revenue
      56,616        72,071        904       129,591       (820 )      128,771  
Inter-segment revenue
      —          —          (50 )      (50 )      50       —    
    
 
 
     
 
 
     
 
 
    
 
 
    
 
 
    
 
 
  
Segment revenue
      56,616        72,071        854       129,541       (770 )      128,771  
    
Six Months Ended June 30, 2021
  
    
UK
    
US
    
All other
segments
    
Total
segments
    
Reconciliation
adjustments
    
Total

as per
statement
of profit
and loss
  
    
$’000
    
$’000
    
$’000
    
$’000
    
$’000
    
$’000
  
Cost of care delivery
      (20,545 )      (75,951 )      (938 )      (97,434 )      5,297       (92,137 ) 
Other operating expenses, excluding amortization and depreciation
      (59,667 )      (32,976 )      (6,173 )      (98,816 )      (3,046 )      (101,862 ) 
Exchange (loss)/gain
      (182 )      (70 )      2,348       2,095       (2,187 )      (91 ) 
Share of loss of equity-accounted investees
      —         (1,276 )      —         (1,276 )      —         (1,276 ) 
Gain / (loss) on sale
      (2,390 )      —         3,880       1,490       2,427       3,917  
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
  
EBITDA
   
 
(26,168
) 
  
 
(38,202
) 
  
 
(29
) 
  
 
(64,399
) 
  
 
1,721
 
  
 
(62,678
) 
                                            
 
 
  
Depreciation and amortization
                                              (13,322 ) 
Exchange loss/(gain)
                                              91  
Share of loss of equity-accounted investees
                                              1,276  
(Gain) / loss on sale
                                              (3,917 ) 
                                            
 
 
  
Operating loss
                                           
 
(78,550
) 
                                            
 
 
  
   
    
Six Months Ended June 30, 2020
  
    
UK
    
US
    
All other
segments
    
Total
segments
    
Reconciliation
adjustments
    
Total

as per
statement
of profit
and loss
  
    
$’000
    
$’000
    
$’000
    
$’000
    
$’000
    
$’000
  
External revenue
      19,302       2,097       1,104       22,503       —         22,503  
Inter-segment revenue
      —         —         —         —         —         —    
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
  
Segment revenue
      19,302       2,097       1,104       22,503       —         22,503  
Cost of care delivery
      (18,581 )      (3,040 )      (2,823 )      (24,444 )      5,624       (18,820 ) 
Other operating expenses, excluding amortization and depreciation
      (57,704 )      (10,618 )      (6,218 )      (74,540 )      (5,542 )      (80,082 ) 
Exchange (loss)/gain
      (813 )      197       (19,292 )      (19,908 )      17,762       (2,146 ) 
Share of loss of equity-accounted investees
      —         (309 )      —         (309 )      —         (309 )  
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
  
EBITDA
   
 
(57,796
) 
  
 
(11,673
) 
  
 
(27,229
) 
  
 
(96,698
) 
  
 
17,844
 
  
 
(78,854
) 
                                            
 
 
  
Depreciation and amortization
                                              (6,459 ) 
Exchange loss/(gain)
                                              2,146  
Share of loss of equity-accounted investees
                                              309  
                                            
 
 
  
Operating loss
                                           
 
(82,858
) 
                                            
 
 
  
Reconciliation adjustments include allocation and classification differences of costs between management accounts and statutory reporting, reversals of inter-segment revenue and foreign exchange variances.
Major customers
Below is a summary of the revenue derived from the Group’s major customers.
 
    
Six Months Ended June 30,
  
    
2021
     
2020
  
    
$’000
     
%
of revenue
     
$’000
     
%
of revenue
  
Customer 1
      32,937        26        —          —    
Customer 2
      25,752        20        —          —    
Customer 3
      15,173        12        —          —    
Customer 4
      —          —          4,797        21  
Customer 5
      —          —          4,219        19  
Customer 6
      —          —          3,688        16  
Customer 7
      —          —          2,473        11  
Geographical information
Revenue from external customers attributed to individual countries is summarized as follows:
 
    
Six Months Ended
June 30,
  
    
2021
     
2020
  
    
$’000
     
$’000
  
UK
      16,130        12,332  
US
      71,651        2,097  
Asia-Pacific
      7,548        5,095  
Canada
      32,937        1,328  
Rest of World
      505        1,651  
    
 
 
     
 
 
  
Total
   
 
128,771
 
   
 
22,503
 
    
 
 
     
 
 
  
As of June 30, 2021 55.8% ($88,566 thousand) and 40.9% ($64,869 thousand) of
non-current
assets of the Group are derived from and located within the UK and US respectively. In 2020 64.8% ($70,920 thousand) and 34.5% ($37,776 thousand) of
non-current
assets of the Group are derived from and located within the UK and US respectively.
As of June 30, 2021 54.6% ($6,297 thousand) and 40.1% ($4,618 thousand) of total Group trade receivables were attributable to the UK and US respectively. In 2020 47.6% ($2,224 thousand) and 50.1% ($2,339 thousand) of total Group trade receivables were attributable to the UK and US respectively.
 
7.
Segment Information
Below is a summary of the Group’s segments and a reconciliation between the results from operations as per segment information and the results from operations as per the Consolidated Statements of Profit and Loss.
 
    
Year ended December 31, 2020
  
    
UK
    
US
    
All other
segments
    
Total
segments
    
Reconciliation
adjustments
    
Total as
per
statement
of profit
and loss
  
    
$’000
    
$’000
    
$’000
    
$’000
    
$’000
    
$’000
  
Revenue
      44,000       32,226       2,968       79,194       78       79,272  
Inter-segment revenue
      1,194       (3,094 )      1,766       (134 )      134       0  
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
  
Segment revenue
      45,194       29,132       4,734       79,060       212       79,272  
Cost of care delivery
      (34,600 )      (34,381 )      (7,205 )      (76,186 )      8,932       (67,254 ) 
Other operating expenses, excluding amortization and depreciation
      (127,762 )      (27,190 )      (3,990 )      (158,942 )      (14,100 )      (173,042 ) 
Exchange (loss)/gain
      403       (246 )      17,060       17,217       (20,053 )      (2,836 ) 
Share of loss of equity-accounted investees
      —         —         (1,124 )      (1,124 )      —         (1,124 ) 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
  
EBITDA
   
 
(116,765
) 
  
 
(32,685
) 
  
 
9,475
 
  
 
(139,975
) 
  
 
(25,009
) 
  
 
(164,984
) 
                                            
 
 
  
Depreciation and amortization
                                              (14,487 ) 
Exchange loss/(gain)
                                              2,836  
Share of loss of equity-accounted investees
                                              1,124  
                                            
 
 
  
Operating loss
                                           
 
(175,511
) 
                                            
 
 
  
   
    
Year ended December 31, 2019
  
    
UK
    
US
    
All other
segments
    
Total
segments
    
Reconciliation
adjustments
    
Total as
per
statement
of profit
and loss
  
    
$’000
    
$’000
    
$’000
    
$’000
    
$’000
    
$’000
  
External revenue
      14,633       —         1,410       16,043       (9 )      16,034  
Inter-segment revenue
      4,081       (2,669 )      (1,382 )      30       (30 )      —    
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
  
Segment revenue
      18,714       (2,669 )      28       16,073       (39 )      16,034  
Cost of care delivery
      (25,707 )      (160 )      (373 )      (26,240 )      6,430       (19,810 ) 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
  
Other operating expenses, excluding amortization and depreciation
      (119,895 )      (23,273 )      (5,340 )      (148,508 )      (8,040 )      (156,548 ) 
Exchange (loss)/gain
      314       (83 )      16,584       16,815       260       17,075  
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
  
EBITDA
   
 
(126,574
) 
  
 
(26,185
) 
  
 
10,899
 
  
 
(141,860
) 
  
 
(1,389
) 
  
 
(143,249
) 
                                            
 
 
  
Depreciation and amortization
                                              (2,496 ) 
Exchange loss/(gain)
                                              (17,075 ) 
                                            
 
 
  
Operating loss
                                           
 
(162,820
) 
                                            
 
 
  
Reconciliation adjustments include allocation and classification differences of costs between management accounts and statutory reporting, reversals of inter-segment revenue and foreign exchange variances.
Major customers
Below is a summary of the revenue derived from the Group’s major customers.
 
    
2020
    
2019
  
    
$‘000
     
% of revenue
    
$‘000
     
% of revenue
  
Customer 1
      11,918        15.0 %      2,215        13.8 % 
Customer 2
      9,706        12.3 %      2,465        15.4 % 
Customer 3
      9,505        12.0 %      5,607        34.9 % 
Customer 4
      14,937        18.9 %      —        —  
Geographical information
Revenue from external customers attributed to individual countries is summarized as follows:
 
    
2020
     
2019
  
    
$’000
     
$’000
  
UK
      28,827        12,189  
US
      32,689        —    
Asia-Pacific
      11,585        2,215  
Canada
      3,207        564  
Rest of World
      2,964        1,066  
    
 
 
     
 
 
  
Total
   
 
79,272
 
   
 
16,034
 
    
 
 
     
 
 
  
In 2020 64.8% ($70,920 thousand) and 34.5% ($37,776 thousand) of
non-current
assets of the Group are derived from and located within the UK and US respectively. In 2019 substantially all
non-current
assets of the Group were derived from and located in the UK.
In 2020 47.6% ($2,224 thousand) and 50.1% ($2,339 thousand) of total Group trade receivables were attributable to the UK and US respectively. In 2019 substantially all trade receivables of the Group were derived from the UK segment.