0001628280-22-029404 | 6-K | XBRL Viewer

Cover Page	9 Months Ended
Sep. 30, 2022
Cover [Abstract]
Document Type	6-K
Entity File Number	001-40377
Entity Registrant Name	Valneva SE
Amendment Flag	false
Entity Central Index Key	0001836564
Current Fiscal Year End Date	--12-31
Document Period End Date	Sep. 30, 2022
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q3

Unaudited Interim Condensed Consolidated Statements of Income (Loss) - EUR (€) € in Thousands	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Profit or loss [abstract]
Product sales	€ 74,421	€ 45,469
Other revenues	175,481	24,379
Revenues	249,902	69,847
Cost of goods and services	(202,726)	(159,586)
Research and development expenses	(75,385)	(117,234)
Marketing and distribution expenses	(13,089)	(15,000)
General and administrative expenses	(23,267)	(31,664)
Other income and expenses, net	7,472	16,034
OPERATING LOSS	(57,093)	(237,603)
Finance income	59	240
Finance expenses	(13,395)	(12,137)
Foreign exchange gain/(loss), net	(26,492)	5,334
Result from investments in associates	9	(120)
LOSS BEFORE INCOME TAX	(96,912)	(244,286)
Income tax income/(expense)	(2,163)	(1,647)
LOSS FOR THE PERIOD	€ (99,075)	€ (245,933)
Earnings per share [abstract]
Basic loss per share (in euro per share)	€ (0.92)	€ (2.51)
Diluted loss per share (in euro per share)	€ (0.92)	€ (2.51)

Unaudited Interim Condensed Consolidated Statement of Comprehensive Income (Loss) - EUR (€) € in Thousands	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Profit or loss [abstract]
Loss for the period	€ (99,075)	€ (245,933)
Items that may be reclassified to profit or loss
Currency translation differences	(1,488)	(143)
Items that will not be reclassified to profit or loss
Defined benefit plan actuarial gains/(losses)	168	0
Other comprehensive loss for the period, net of tax	(1,320)	(143)
TOTAL COMPREHENSIVE LOSS FOR THE PERIOD ATTRIBUTABLE TO THE OWNERS OF THE COMPANY	€ (100,395)	€ (246,076)

- Definition

The total of income less expenses from continuing and discontinued operations, excluding the components of other comprehensive income. [Refer: Other comprehensive income]

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
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Reference 5: http://www.xbrl.org/2003/role/exampleRef
-Note Effective on first application of IFRS 9
-Name IFRS
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
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Reference 7: http://www.xbrl.org/2003/role/exampleRef
-Note Effective 2023-01-01
-Name IFRS
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Reference 8: http://www.xbrl.org/2003/role/exampleRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Name IAS
-Number 1
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-URIDate 2021-03-24

+ Details

Unaudited Interim Condensed Consolidated Balance Sheets - EUR (€) € in Thousands	Sep. 30, 2022	Dec. 31, 2021
ASSETS
Non-current assets	€ 221,548	€ 231,520
Intangible assets	29,652	32,700
Right of use assets	47,679	48,285
Property, plant and equipment	122,980	125,545
Investments in associates	0	2,124
Deferred tax assets	2,943	3,582
Other non-current assets	18,294	19,282
Current assets	476,535	585,832
Inventories	96,462	124,098
Trade receivables	57,732	44,013
Other current assets	59,165	71,036
Cash and cash equivalents	261,042	346,686
Assets classified as held for sale	2,134	0
TOTAL ASSETS	698,083	817,352
EQUITY
Capital and reserves attributable to the Company’s equity holders	164,983	170,581
Share capital	17,603	15,786
Share premium	501,638	409,258
Other reserves	51,791	52,512
Retained earnings/(Accumulated deficit)	(306,974)	(233,549)
Loss for the period	(99,075)	(73,425)
LIABILITIES
Non-current liabilities	158,889	277,791
Borrowings	93,364	50,726
Lease liabilities	52,643	53,687
Contract liabilities	2,974	4,741
Refund liabilities	6,587	158,970
Provisions	1,357	8,308
Deferred tax liabilities	1,784	1,290
Other liabilities	181	69
Current liabilities	374,211	368,979
Borrowings	12,494	7,107
Trade payables and accruals	74,973	68,119
Income tax liability	137	83
Tax and Employee-related liabilities	16,036	17,249
Lease liabilities	3,118	3,135
Contract liabilities	6,906	124,017
Refund liabilities	225,712	95,611
Provisions	27,691	48,708
Other liabilities	7,145	4,950
TOTAL LIABILITIES	533,100	646,771
TOTAL EQUITY AND LIABILITIES	€ 698,083	€ 817,352

Unaudited Interim Condensed Consolidated Statements of Cash Flows - EUR (€) € in Thousands	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Cash flows from operating activities
Loss for the period	€ (99,075)	€ (245,933)
Adjustments for non-cash transactions	17,784	34,851
Changes in non-current operating assets and liabilities	(155,970)	4,210
Changes in working capital	48,830	244,948
Cash generated from/(used in) operations	(188,431)	38,076
Income tax paid	(1,082)	(1,624)
Net cash generated from/(used in) operating activities	(189,513)	36,452
Cash flows from investing activities
Purchases of property, plant and equipment	(22,465)	(68,973)
Purchases of intangible assets	(76)	(938)
Interest received	59	45
Net cash used in investing activities	(22,483)	(69,866)
Cash flows from financing activities
Proceeds from issuance of common stock, net of costs of equity transactions	93,998	85,061
Disposal of treasury shares	0	209
Proceeds from borrowings, net of transaction costs	38,141	0
Repayment of borrowings	(1,793)	(1,956)
Payment of lease liabilities	(2,171)	(1,948)
Interest paid	(6,544)	(6,734)
Net cash generated from/(used in) financing activities	121,631	74,632
Net change in cash and cash equivalents	(90,365)	41,218
Cash and cash equivalents at beginning of the period	346,642	204,394
Exchange gains/(losses) on cash	1,814	2,324
Restricted cash	2,951	43
Cash and cash equivalents at end of the period	€ 261,042	€ 247,948

Unaudited Interim Condensed Consolidated Statements of Changes in Equity € in Thousands	EUR (€)	Share capital EUR (€) shares	Share premium EUR (€)	Other reserves EUR (€)	Retained earnings/ (Accumulated deficit) EUR (€)	Profit/ (loss) for the period EUR (€)
Number of shares issued at beginning of period (in shares) at Dec. 31, 2020 \| shares		90,970,562
Equity at beginning of period at Dec. 31, 2020	€ 77,422	€ 13,646	€ 244,984	€ 52,342	€ (169,156)	€ (64,393)
Total comprehensive loss	(246,076)			(143)		(245,933)
Income appropriation	0				(64,393)	64,393
Share-based compensation expense:
Share-based compensation expense, value of services	1,825			1,825
Share-based compensation expense, exercices (in shares) \| shares		799,450
Share-based compensation expense, exercices	2,225	€ 120	2,105
Treasury shares	209			209
Issuance of ordinary shares (in shares) \| shares		8,145,176
Issuance of ordinary shares	89,597	€ 1,222	88,375
Cost of equity transactions, net of tax	(6,761)		(6,761)
Number of shares issued at end of period (in shares) at Sep. 30, 2021 \| shares		99,915,188
Equity at end of period at Sep. 30, 2021	(81,559)	€ 14,987	328,703	54,234	(233,549)	(245,933)
Number of shares issued at beginning of period (in shares) at Dec. 31, 2021 \| shares		105,239,085
Equity at beginning of period at Dec. 31, 2021	170,581	€ 15,786	409,258	52,512	(233,549)	(73,425)
Total comprehensive loss	(100,395)			(1,320)		(99,075)
Income appropriation	0				(73,425)	73,425
Share-based compensation expense:
Share-based compensation expense, value of services	599			599
Share-based compensation expense, exercices (in shares) \| shares		2,563,011
Share-based compensation expense, exercices	3,718	€ 384	3,333
Treasury shares	0
Issuance of ordinary shares (in shares) \| shares		9,549,761
Issuance of ordinary shares	90,627	€ 1,432	89,195
Cost of equity transactions, net of tax	(148)		(148)
Number of shares issued at end of period (in shares) at Sep. 30, 2022 \| shares		117,351,857
Equity at end of period at Sep. 30, 2022	€ 164,983	€ 17,603	€ 501,638	€ 51,791	€ (306,974)	€ (99,075)

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Cover Cover Page Financial Statements Unaudited Interim Condensed Consolidated Statements of Income (Loss) Unaudited Interim Condensed Consolidated Statement of Comprehensive Income (Loss) Unaudited Interim Condensed Consolidated Balance Sheets Unaudited Interim Condensed Consolidated Statements of Cash Flows Unaudited Interim Condensed Consolidated Statements of Changes in Equity All Reports