voxeljet AG Reports Financial Results for the Second Quarter Ended June 30, 2022

The valuation techniques used to determine the fair value of financial instruments include the use of quoted market prices or dealer quotes for similar instruments as well as discounted cash flow analysis.

The fair value of the Company’s investments in the bond funds was determined based on the quoted unit prices received by the fund management company.

The fair value of equity securities is determined by multiplying their share price and the number of shares held.

The fair values of the derivative financial instruments that are not traded in an active market are determined using valuation techniques which maximize the use of observable market data and rely as little as possible on entity-specific estimates. The fair values have been determined based on share prices and the relevant discount rates.

The fair value of long-term debt was determined using discounted cash flow models based on the relevant forward interest rate yield curves, considering the credit risk of voxeljet.

Due to their short maturity and the current low level of interest rates, the carrying amounts of cash and cash equivalents, restricted cash, trade receivables, trade payables, term deposit, credit lines and bank overdrafts approximate their fair values.

The Group’s policy is to recognize transfers into and transfers out of fair value hierarchy levels as of the end of each quarter. As of June 30, 2022, there were no transfers of financial instruments measured at fair value between level 1, level 2 and level 3.

As of June 30, 2022, the Company was in compliance with all covenants related to the loan granted by the EIB.

8. Financial result

 

 

 

 

 

 

 

Three months ended June 30,

 

 

2022

 

2021

 

 

(€ in thousands)

Finance expense

 

(947)

 

(596)

Interest expense on lease liabilities

 

(33)

 

(37)

Long-term debt

 

(583)

 

(537)

Change in fair value of bond funds

 

(330)

 

(22)

Other

 

(1)

 

--

Finance income

 

1,040

 

1,974

Payout of bond funds

 

--

 

6

Income from revaluation of derivative financial instruments

 

1,037

 

1,966

Other

 

3

 

2

Financial result

 

93

 

1,378

 

 

 

 

 

 

 

Six months ended June 30,

 

 

2022

 

2021

 

 

(€ in thousands)

Finance expense

 

(1,995)

 

(4,427)

Interest expense on lease liabilities

 

(70)

 

(73)

Long-term debt

 

(1,150)

 

(1,061)

Expense from revaluation of derivative financial instruments

 

--

 

(3,222)

Change in fair value of bond funds

 

(773)

 

(66)

Other

 

(2)

 

(5)

Finance income

 

2,439

 

107

Payout of bond funds

 

77

 

37

Income from revaluation of derivative financial instruments

 

2,353

 

--

Other

 

9

 

70

Financial result

 

444

 

(4,320)


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