Segment Information |
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.
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For the Year Ended December 31, 2021 |
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UK |
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US |
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All other
segments
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Total
segments
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Reconciliation
adjustments
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Total as
per
statement
of profit
and loss
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$’000 |
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$’000 |
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$’000 |
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$’000 |
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$’000 |
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$’000 |
Revenue |
88,967 |
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232,296 |
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1,610 |
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322,873 |
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48 |
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322,921 |
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Inter-segment revenue |
2,205 |
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(3,964) |
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1,756 |
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(3) |
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3 |
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0 |
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Segment revenue |
91,172 |
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228,332 |
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3,366 |
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322,870 |
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51 |
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322,921 |
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Cost of care delivery |
(41,542) |
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(253,998) |
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(1,590) |
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(297,130) |
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7,458 |
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(289,672) |
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Other operating expenses, excluding amortization and depreciation |
(114,975) |
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(105,602) |
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(171,951) |
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(392,528) |
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(8,226) |
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(400,754) |
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Change in fair value of warrant liabilities |
— |
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— |
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27,811 |
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27,811 |
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— |
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27,811 |
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Exchange (loss) / gain |
(1,844) |
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189 |
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1,390 |
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(265) |
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1,133 |
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868 |
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Gain on sale of subsidiary |
— |
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— |
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2,687 |
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2,687 |
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1,230 |
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3,917 |
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Gain on remeasurement of equity interest |
— |
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— |
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10,495 |
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10,495 |
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— |
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10,495 |
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Share of loss of equity-accounted investees |
— |
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(2,602) |
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— |
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(2,602) |
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— |
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(2,602) |
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Segment EBITDA |
(67,189) |
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(133,681) |
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(127,792) |
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(328,662) |
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1,646
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(327,016) |
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Depreciation and amortization |
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(35,004) |
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Change in fair value of warrant liabilities |
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(27,811) |
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Exchange gain |
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(868) |
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Gain on sale of subsidiary |
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(3,917) |
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Gain on remeasurement of equity interest |
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(10,495) |
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Share of loss of equity-accounted investees |
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2,602 |
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Operating loss |
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(402,509) |
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For the Year Ended December 31, 2020 |
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UK |
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US |
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All other
segments
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Total
segments
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Reconciliation
adjustments
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Total as
per
statement
of profit
and loss
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$’000 |
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$’000 |
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$’000 |
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$’000 |
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$’000 |
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$’000 |
Revenue |
44,000 |
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32,226 |
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2,968 |
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79,194 |
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78 |
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79,272 |
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Inter-segment revenue |
1,194 |
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(3,094) |
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1,766 |
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(134) |
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134 |
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0 |
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Segment revenue |
45,194 |
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29,132 |
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4,734 |
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79,060 |
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212 |
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79,272 |
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Cost of care delivery |
(34,600) |
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(34,381) |
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(7,205) |
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(76,186) |
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8,932 |
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(67,254) |
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Other operating expenses, excluding amortization and depreciation |
(127,762) |
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(27,190) |
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(3,990) |
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(158,942) |
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(14,100) |
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(173,042) |
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Exchange (loss) / gain |
403 |
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(246) |
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17,060 |
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17,217 |
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(20,053) |
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(2,836) |
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Share of loss of equity-accounted investees |
— |
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— |
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(1,124) |
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(1,124) |
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— |
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(1,124) |
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Segment EBITDA |
(116,765) |
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(32,685) |
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9,475
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(139,975) |
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(25,009) |
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(164,984) |
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Depreciation and amortization |
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(14,487) |
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Exchange loss |
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2,836 |
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Share of loss of equity-accounted investees |
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1,124 |
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Operating loss |
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(175,511) |
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For the Year Ended December 31, 2019 |
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UK |
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US |
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All other
segments
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Total
segments
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Reconciliation
adjustments
|
|
Total as
per
statement
of profit
and loss
|
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$’000 |
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$’000 |
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$’000 |
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$’000 |
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$’000 |
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$’000 |
External revenue |
14,633 |
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— |
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1,410 |
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16,043 |
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(9) |
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16,034 |
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Inter-segment revenue |
4,081 |
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(2,669) |
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(1,382) |
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30 |
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(30) |
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— |
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Segment revenue |
18,714 |
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(2,669) |
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28 |
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16,073 |
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(39) |
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16,034 |
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Cost of care delivery |
(25,707) |
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(160) |
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(373) |
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(26,240) |
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6,430 |
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(19,810) |
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Other operating expenses, excluding amortization and depreciation |
(119,895) |
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(23,273) |
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(5,340) |
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(148,508) |
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(8,040) |
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(156,548) |
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Exchange (loss) / gain |
314 |
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(83) |
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16,584 |
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16,815 |
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260 |
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17,075 |
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Segment EBITDA |
(126,574) |
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(26,185) |
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10,899
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(141,860) |
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(1,389) |
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(143,249) |
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Depreciation and amortization |
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(2,496) |
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Exchange gain |
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(17,075) |
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Operating loss |
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(162,820) |
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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:
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For the Year Ended December 31, |
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2021 |
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2020 |
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2019 |
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$‘000 |
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% of revenue |
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$‘000 |
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% of revenue |
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$‘000 |
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% of revenue |
Customer 1 |
119,785 |
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37.1 |
% |
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11,918 |
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15.0 |
% |
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2,215 |
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13.8 |
% |
Customer 2 |
39,764 |
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12.3 |
% |
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9,706 |
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12.3 |
% |
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2,465 |
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15.4 |
% |
Customer 3 |
38,705 |
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12.0 |
% |
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9,505 |
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12.0 |
% |
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5,607 |
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34.9 |
% |
Customer 4 |
N/A |
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N/A |
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14,937 |
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18.9 |
% |
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N/A |
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N/A |
Geographical Information
Revenue from external customers attributed to individual countries is summarized as follows:
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For the Year Ended December 31, |
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2021 |
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2020 |
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2019 |
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$’000 |
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$’000 |
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$’000 |
UK |
35,490 |
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28,827 |
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12,189 |
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US |
232,708 |
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32,689 |
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— |
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Asia-Pacific |
14,965 |
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11,585 |
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2,215 |
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Canada |
38,705 |
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3,207 |
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|
564 |
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Rest of World |
1,053 |
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2,964 |
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1,066 |
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Total |
322,921
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79,272
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16,034
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In 2021 38.3% ($92.6 million) and 61.1% ($147.8 million) of non-current assets of the Group are derived from and located within the UK and US, respectively. In 2020 64.8% ($70.9 million) and 34.5% ($37.8 million) of non-current assets of the Group are derived from and located within the UK and US, respectively.
In 2021 84.5% ($7.0 million) and 11.0% ($0.9 million) of total Group trade receivables were attributable to the UK and US, respectively. In 2020 47.6% ($2.2 million) and 50.1% ($2.3 million) of total Group trade receivables were attributable to the UK and US, respectively.
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