0001558370-24-008317 | 20-F | XBRL Viewer

in EUR k

Currency losses

Total other operating expenses

Discontinued operations (Tables)

12 Months Ended

Dec. 31, 2023

Schedule Of Continuing And Discontinued Operations in the consolidated statements of comprehensive income and consolidated statements of cash flows



in EUR k	2023	2022	2021
Results of discontinued operations
Revenue	-	19,455	146,334
Cost of sales	-	15,120	131,713
Gross profit	-	4,335	14,621
General administrative expenses	-	503	3,259
Selling expenses	-	7	534
Other operating income	-	3,096	373
Other operating expenses	-
Operating income	-	6,921	11,201
Financial costs, net	-	46	49
Income before taxes	-	6,875	11,152
Income tax expense	-	13	46
Income for the period	-	6,862	11,106
Total comprehensive income, attributable to equity holders of the parent	-	6,862	11,106
Net income per share - Basic and diluted (in EUR)	-	0.26	0.49

Related parties (Tables)

12 Months Ended

Dec. 31, 2023


in EUR k	2023	2022	2021
Short‑term employee benefits	3,640	4,138	4,098
Post‑employment pension and medical benefits	—	—	23
Termination benefits	50	679	235
Share‑based payment transactions	1,460	(1,929)	822
Total compensation to key management	5,150	2,888	5,178

Commitments	12 Months Ended
Dec. 31, 2023
Commitments
Commitments	26 Commitments Future payments for non-cancellable leases The Group has a lease contract in relation to the expansion of the Rostock headquarters. The future lease payments and utilities for these non-cancellable lease contracts are EUR 105k within one year, EUR 1,272k within five years and EUR 318k thereafter (2022: EUR nil; 2021: EUR 107k within one year; 2022: EUR 1,272k; 2021: EUR 2,370k within five years; and 2022 EUR 318k; 2021: EUR 4,219k thereafter). The Group has various non-cancellable lease contracts of office equipment and storage spaces which had a lease term of less than 12 months or were related to leases of low-value assets, and therefore the short-term lease recognition exemption was applied to these contracts. The future lease payments for these non-cancellable lease contracts are EUR 105k within one year (2022: EUR 59k; 2021: EUR 44k) and EUR 4k within five years (2022: EUR 25k; 2021: EUR 49k). Future payment obligations During 2023, the Group concluded agreements with suppliers, for goods and services to be provided in 2024 with a total payment obligation of EUR 3,214k (2022: EUR 6,670k; 2021: EUR 6,620k).

Commitments

12 Months Ended

Dec. 31, 2023

Commitments

Commitments

26 Commitments

Future payments for non-cancellable leases

The Group has a lease contract in relation to the expansion of the Rostock headquarters. The future lease payments and utilities for these non-cancellable lease contracts are EUR 105k within one year, EUR 1,272k within five years and EUR 318k thereafter (2022: EUR nil; 2021: EUR 107k within one year; 2022: EUR 1,272k; 2021: EUR 2,370k within five years; and 2022 EUR 318k; 2021: EUR 4,219k thereafter).

The Group has various non-cancellable lease contracts of office equipment and storage spaces which had a lease term of less than 12 months or were related to leases of low-value assets, and therefore the short-term lease recognition exemption was applied to these contracts. The future lease payments for these non-cancellable lease contracts are EUR 105k within one year (2022: EUR 59k; 2021: EUR 44k) and EUR 4k within five years (2022: EUR 25k; 2021: EUR 49k).

Future payment obligations

During 2023, the Group concluded agreements with suppliers, for goods and services to be provided in 2024 with a total payment obligation of EUR 3,214k (2022: EUR 6,670k; 2021: EUR 6,620k).

List of subsidiaries (Tables)

12 Months Ended

Dec. 31, 2023

List of subsidiaries

Schedule of major subsidiaries


		Equity interests (%)
	Country in which
	primary activities are
Name	pursued	Dec 31, 2023	Dec 31, 2022
Centogene GmbH	Germany	100	100
Centogene FZ-LLC	United Arab Emirates	100	100
Centogene US, LLC	USA	100	100
Centogene GmbH*	Austria	—	100
Centogene India Pvt. Ltd	India	100	100
Centogene Switzerland AG	Switzerland	100	100
Centosafe B.V.	Netherlands	100	100
Centogene d.o.o Belgrade	Serbia	100	100
Genomics Innovations Company Limited**	United Arab Emirates	20	—

(*)The Group acquired the remaining 10% of Centogene GmbH. Austria in 2022. During 2023, the Group decided to wind down the entity.

(**)Joint Venture created in 2023. See note 15.

List of subsidiaries

12 Months Ended

Dec. 31, 2023

List of subsidiaries

List of subsidiaries

24 List of subsidiaries

The major subsidiaries of the Group are listed below.


		Equity interests (%)
	Country in which
	primary activities are
Name	pursued	Dec 31, 2023	Dec 31, 2022
Centogene GmbH	Germany	100	100
Centogene FZ-LLC	United Arab Emirates	100	100
Centogene US, LLC	USA	100	100
Centogene GmbH*	Austria	—	100
Centogene India Pvt. Ltd	India	100	100
Centogene Switzerland AG	Switzerland	100	100
Centosafe B.V.	Netherlands	100	100
Centogene d.o.o Belgrade	Serbia	100	100
Genomics Innovations Company Limited**	United Arab Emirates	20	—

(*)The Group acquired the remaining 10% of Centogene GmbH. Austria in 2022. During 2023, the Group decided to wind down the entity.

(**)Joint Venture created in 2023. See note 15.

Share-based Payments - 2019 Equity Incentive Plan (2019 Plan) (Details)		1 Months Ended
	Jan. 01, 2023	Nov. 30, 2022
Share-based payments
Threshold delivery period on settlement or exercise of awards		30 days
2019 Plan
Share-based payments
Maximum amount of share-based award grants allowed under the plan (as a percent)	0.25%
Additional share-based award grants allowed under the plan (as a percent)	0.03%

Effects of new accounting standards

12 Months Ended

Dec. 31, 2023

Effects of new accounting standards

Effects of new accounting standards

3 Effects of new accounting standards

(a)New standards adopted by the Group as of January 1, 2023

The following amendments and interpretations apply for the first time in 2023 and had no impact on the consolidated financial statements of the Group:

●

Amendments to IAS 12 – International Tax Reform (Pillar II) and Deferred Tax

●

Amendments to IAS 21 – Lack of Exchangeability

●

Amendments to IAS 7 and IFRS 17 – Supplier Finance Agreements

●

Amendments to IAS 1 and IAS 8 – Presentation and Accounting Policies

●

IFRS 17 – Insurance Contracts

(b)New standards not yet effective

Furthermore, certain new and amended standards and interpretations have been published that are not mandatory for December 31, 2023, reporting periods and have not been early adopted by the Group (IFRS 18 - Presentation and Disclosure). The Group intends to adopt these new and amended standards and interpretations, if applicable, when they become effective. The Group is currently evaluating the impact of these new or amended standards and interpretations that are issued and become effective for the 2024 annual reporting period.

Intangible assets (Tables)

12 Months Ended

Dec. 31, 2023

Intangible assets

Summary of reconciliation of carrying amounts of intangible assets


	Internally
	generated	Internally	Purchased rights,
	/acquired	developed	licenses,
in EUR k	biomarkers	databases	software	Total
Cost
As of Jan 1, 2021	13,922	9,219	4,899	28,040
Additions	749	1,652	386	2,787
Reclassification	(297)	297	—	—
As of Dec 31, 2021	14,374	11,168	5,285	30,827
Additions	162	1,515	50	1,727
Reclassification	—	—	—	—
As of Dec 31, 2022	14,536	12,683	5,335	32,554
Additions	182	—	2,057	2,239
Reclassification	—	(1,516)	1,516	—
As of Dec 31, 2023	14,718	11,167	8,908	34,793

Accumulated amortization and impairment
As of Jan 1, 2021	10,748	2,713	2,172	15,633
Amortization and impairment	2,149	1,991	1,860	6,000
Reclassification	(68)	68	—	—
As of Dec 31, 2021	12,829	4,772	4,032	21,633
Amortization and impairment	801	1,845	875	3,521
Reclassification	—	—	—	—
As of Dec 31, 2022	13,630	6,617	4,907	25,154
Amortization and impairment	766	1,408	615	2,789
Reclassification	—	—	—	—
As of Dec 31, 2023	14,396	8,025	5,522	27,943

Carrying amounts
As of Dec 31, 2021	1,545	6,396	1,253	9,194
As of Dec 31, 2022	906	6,066	428	7,400
As of Dec 31, 2023	322	3,142	3,386	6,850

Basis of consolidation

12 Months Ended

Dec. 31, 2023

Basis of consolidation

Basis of consolidation

4 Basis of consolidation

The basis of consolidation includes the entities over which Centogene N.V. has control within the meaning of IFRS 10 Consolidated Financial Statements. According to IFRS 10, Centogene N.V. has control of an investee when it has direct or indirect power over the investee, exposure, or rights to variable returns from its involvement with the investee and the ability to use its power over the investee to affect those returns. Control is established when it is possible to influence operating and financial policies of the investee, typically with a share in the voting rights or shareholding of more than 50% in the investee. An entity is included in the Group’s basis of consolidation from the point in time when the Group obtains control of the entity and ceases when the Group loses control of the subsidiary. Assets, liabilities, income and expenses of a subsidiary acquired or disposed of during the year are included in the consolidated financial statements from the date the Group gains control until the date the Group ceases to control the subsidiary.

Profit or loss and each component of other comprehensive income are attributed to the equity holders of the parent of the Group and to the non-controlling interests, even if this results in the non-controlling interests having a deficit balance. All intra-group assets and liabilities, equity, income, expenses and cash flows relating to transactions between members of the Group are eliminated in full upon consolidation.

If the Group loses control over a subsidiary, it derecognizes the related assets, liabilities, non-controlling interest and other components of equity, while any resultant gain or loss is recognized in profit or loss.

As of March 31, 2022, operations at all COVID-19 testing sites ceased and the Group abandoned the COVID-19 business line. Consequently, the Group is reporting its COVID-19 segment as a discontinued operation (Note 9). With the decision to cease COVID-19 operations as of March 31, 2022, Centogene terminated its cooperation agreement with Dr. Bauer GmbH with a separation agreement effective as of April 2, 2022 and signed on August 23, 2022 (the “Separation Agreement”). With the COVID-19 business being discontinued and the collaboration agreement being terminated, Centogene’s control over Dr. Bauer GmbH ceased; Centogene no longer meets the criteria of the control model under IFRS 10 as it no longer has exposure to variable returns and the ability to use power to affect returns through COVID-19 operations. Therefore, Centogene deconsolidated Dr. Bauer GmbH from its consolidated financial statements as of April 2, 2022 (“Deconsolidation Date”). The impact of the deconsolidation on the loss for the period and on the statement of cash flows is disclosed under Note 9 – Discontinued operations. The impact of the deconsolidation on the statement of financial position is disclosed under Note 27 – Related parties.

Right-of-use assets (Details) € in Thousands	12 Months Ended
Right-of-use assets (Details) € in Thousands	Dec. 31, 2023 EUR (€) contract
Rostock headquarters building
Leases
Lease term	12 years
Number of times the lease contract can be extended \| contract	2
Lease contract extension term	6 years
Rental expense	€ 1,500
Rostock headquarters building and Berlin offices
Leases
Bank guarantee	3,257
Short term deposits pledged as security	€ 3,257
Plant and machinery
Leases
Lease term	2 years
Rental deposits	€ 51
Other equipment
Leases
Lease term	4 years
Motor vehicles
Leases
Lease term	3 years
Certain motor vehicles and premises \| Maximum
Leases
Lease term	12 months

Financial instruments-fair values and risk management- Profit or loss impact on the fair values of Level 3 (Details) - Level 3 € in Thousands	12 Months Ended
	Dec. 31, 2023 EUR (€)
Volatility rate \| Option floor
Disclosure of fair value measurement of assets [line items]
Shift	0.10
Volatility rate \| Option yield
Disclosure of fair value measurement of assets [line items]
Increase of reasonably possible significant unobservable input , assets	€ 94
Decrease of reasonably possible significant unobservable input, assets	€ (97)
Shift	0.10
Volatility rate \| Warrants liability
Disclosure of fair value measurement of assets [line items]
Increase of reasonably possible significant unobservable input , liabilities	€ 50
Decrease of reasonably possible significant unobservable input , liabilities	€ (50)
Shift	0.05
Credit spread \| Option floor
Disclosure of fair value measurement of assets [line items]
Increase of reasonably possible significant unobservable input , assets	€ 6
Decrease of reasonably possible significant unobservable input, assets	€ (6)
Shift	0.10
Credit spread \| Option yield
Disclosure of fair value measurement of assets [line items]
Increase of reasonably possible significant unobservable input , assets	€ (144)
Decrease of reasonably possible significant unobservable input, assets	€ 186
Shift	0.10

Subsequent Events (Details) $ / shares in Units, € in Millions, ر.س in Millions, $ in Millions						12 Months Ended
	May 12, 2024 EUR (€) tranche D shares	May 12, 2024 USD ($) D shares	May 12, 2024 SAR (ر.س) D shares	May 11, 2024 SAR (ر.س)	Jun. 26, 2023	Dec. 31, 2023	May 12, 2024 USD ($) tranche $ / shares	May 12, 2024 SAR (ر.س) tranche	May 11, 2024 $ / shares
Subsequent Event
Convert period	10 days	10 days	10 days
Genomics Innovations Company Limited
Subsequent Event
Proportion of ownership interest in joint venture					20.00%	20.00%
Genomics Innovations Company Limited \| Pharmaceutical Investment Company
Subsequent Event
Proportion of ownership interest in joint venture					80.00%
Receivable Transfer Agreement \| Pharmaceutical Investment Company
Subsequent Event
Aggregate purchase price	€ 13.9						$ 15.0
Number of tranches \| tranche	3						3	3
Purchase price in each tranche							$ 5.0
Sale of Interest in Joint Venture \| Genomics Innovations Company Limited \| Pharmaceutical Investment Company
Subsequent Event
Shares sells	16.00%	16.00%	16.00%
Transaction amounted	€ 4.9		ر.س 20.0
Number of shares agreed to sell under the joint venture \| shares	16,000	16,000	16,000
Proportion of ownership interest in joint venture	4.00%	4.00%	4.00%
Modification of Technology Transfer and Intellectual Property License Agreement
Subsequent Event
Percentage of royalty fee	1.00%	1.00%	1.00%	2.50%
Loan and Security Agreement
Subsequent Event
Percentage multiplied to notional amount in calculating fee	2.00%	2.00%	2.00%
Threshold market capitalization amount that would trigger success fee		$ 125.0
Threshold consecutive trading days of market capitalization amount requirement that would trigger success fee \| D	10	10	10
Second loan amendment
Subsequent Event
Second conversion of the aggregate principal amount							15.0
Second loan amendment \| Amended convertible loan agreement with Lifera
Subsequent Event
Conversion of the aggregate principal amount							15.0
Second conversion of the aggregate principal amount							$ 15.0
Convert period	10 days	10 days	10 days
Threshold percentage, considered for conversion price adjustment	49.00%	49.00%	49.00%
Second loan amendment \| Amended convertible loan agreement with Lifera \| First Conversion
Subsequent Event
Conversion price \| $ / shares							$ 0.79		$ 2.20
Second loan amendment \| Amended convertible loan agreement with Lifera \| Second Conversion
Subsequent Event
Conversion price \| $ / shares							$ 2.20
Consultancy Variation Agreement
Subsequent Event
First milestone fee receivable \| ر.س				ر.س 20.0				ر.س 10.0

Share-based payments - Other grants to management board, employees or other parties (Details) € in Thousands	12 Months Ended
	Dec. 31, 2023 EUR (€) item shares tranche	Dec. 31, 2023 item shares $ / shares	Dec. 31, 2022 EUR (€) Options shares	Dec. 31, 2021 EUR (€) Options
Expenses arising from share-based payment transactions
Reversals \| €	€ (187)		€ (3,244)
Total expenses arising from sharebased payment transactions \| €	2,929		(16)	€ 8,035
Share-Based Payment Arrangement, Nonemployee
Expenses arising from share-based payment transactions
Expenses arising from equity-settled share-based payment transactions \| €	€ 258
SGAs
Expenses arising from share-based payment transactions
RSUs granted	908,192
Number of shares forfeited	139,790
Number of other equity instruments outstanding in share-based payment arrangement	768,402	768,402
Management board and employees
Expenses arising from share-based payment transactions
Expenses arising from equity-settled share-based payment transactions \| €	€ 2,205		852	985
Supervisory board members
Expenses arising from share-based payment transactions
Expenses arising from equity-settled share-based payment transactions \| €				50
Equity share option 2019 (Equity settled)
Expenses arising from share-based payment transactions
Expenses arising from equity-settled share-based payment transactions \| €	€ 653		€ 2,376	€ 7,000
2019 Plan \| RSUs
Expenses arising from share-based payment transactions
RSUs granted \| Options				167,326
Number of units vested during the period	15,734		300,000
Number of other equity instruments outstanding in share-based payment arrangement \| item	17,676	17,676
2019 Plan \| SGAs
Expenses arising from share-based payment transactions
RSUs granted	908,192		425,093
Number of other equity instruments outstanding in share-based payment arrangement	209,017	209,017
2019 Plan \| SGAs \| Ifrs Share based payment arrangement employee
Expenses arising from share-based payment transactions
RSUs granted	224,414
Number of shares forfeited	8,392
Number of units vested during the period	144,184
Number of Tranches \| tranche	1
Exercised during the year \| $ / shares		$ 1.14
Number of other equity instruments outstanding in share-based payment arrangement	68,838	68,838
2019 Plan \| SGAs \| Share-Based Payment Arrangement, Nonemployee
Expenses arising from share-based payment transactions
RSUs granted	400,000
Costs capitalized \| €	€ 202
Number of Tranches \| tranche	1
Exercised during the year \| $ / shares		$ 1.14

Segment information and revenue from contracts with customers - Additional information (Details) € in Thousands	12 Months Ended
	Dec. 31, 2023 EUR (€) customer	Dec. 31, 2022 EUR (€)	Dec. 31, 2021 EUR (€)	Dec. 31, 2020 EUR (€)
Segment information and revenue from contracts with customers
Equity and debt financing costs	€ 0	€ 2,161	€ 0
Share issue related cost		450	0
Property, plant and equipment	5,643	6,808	9,464
Right-of-use assets	13,635	15,351	18,904	€ 22,120
Provision for expected credit losses on contract assets	26	10	483
Advance consideration included in contract liabilities	694	651	2,506
Pharmaceutical Partner \| Recognized over time.
Segment information and revenue from contracts with customers
Advance consideration included in contract liabilities	464
-United States
Segment information and revenue from contracts with customers
Property, plant and equipment	14	76	147
Right-of-use assets	0	0	137
Share-Based Payment Arrangement, Nonemployee \| SGAs \| 2019 Plan
Segment information and revenue from contracts with customers
Costs capitalized	202
Pharmaceutical
Segment information and revenue from contracts with customers
Setup Upfront Fees	€ 256	€ 566	€ 455
Pharmaceutical \| Pharmaceutical Partner
Segment information and revenue from contracts with customers
Number of customers \| customer	1
Percentage of revenue	12.60%	15.50%	24.80%
Revenues recognized for contract liabilities	€ 372	€ 1,951	€ 3,201
Diagnostics
Segment information and revenue from contracts with customers
Percentage of revenue	70.00%	66.00%	63.00%
Diagnostics \| Major diagnostic partner
Segment information and revenue from contracts with customers
Percentage of revenue	20.00%

Equity - Common Shares (Details) € / shares in Units, € in Thousands		12 Months Ended
	Jan. 31, 2022 EUR (€) € / shares shares	Dec. 31, 2023 EUR (€) € / shares shares	Dec. 31, 2022 EUR (€) € / shares shares	Dec. 31, 2021 EUR (€) € / shares shares	Jan. 31, 2022 $ / shares	Dec. 31, 2020 shares
Disclosure of classes of share capital [line items]
Number of common shares issued (in shares)	4,479,088
Net offering proceeds, after deducting underwriting discounts, commissions and transaction costs \| €	€ 15,000
Share price \| (per share)	€ 3.35				$ 3.73
Common shares
Disclosure of classes of share capital [line items]
Par value per share (in euros per share) \| € / shares		€ 0.12	€ 0.12	€ 0.12
Increase (decrease) in number of ordinary shares issued			4,998,000
Authorized but unissued share capital \| €		€ 6,000	€ 6,713	€ 6,772
Number of shares issued and fully paid		29,000,137	27,595,835	22,567,971		22,118,000

Right-of-use assets - Carrying amounts of right-of-use assets and movements during the period (Details) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Leases
Beginning balance	€ 15,351	€ 18,904	€ 22,120
Additions	1,854	228	1,452
Transfers to property, plant & equipment	(1,627)	(899)	(672)
Depreciation expenses	(1,943)	(2,882)	(3,996)
Ending balance	13,635	15,351	18,904
Buildings
Leases
Beginning balance	9,760	10,884	12,005
Additions	866
Depreciation expenses	(1,133)	(1,124)	(1,121)
Ending balance	9,493	9,760	10,884
Offices
Leases
Beginning balance	2,922	3,339	4,176
Additions	13	112	133
Depreciation expenses	(364)	(529)	(970)
Ending balance	2,571	2,922	3,339
Plant and equipment
Leases
Beginning balance	1,533	3,291	4,587
Additions	975	95	1,121
Transfers to property, plant & equipment	(1,627)	(772)	(672)
Depreciation expenses	(422)	(1,081)	(1,745)
Ending balance	459	1,533	3,291
Other equipment
Leases
Beginning balance	1,102	1,356	1,315
Additions			179
Transfers to property, plant & equipment		(127)
Depreciation expenses		(127)	(138)
Ending balance	1,102	1,102	1,356
Motor vehicles
Leases
Beginning balance	33	34	37
Additions		21	19
Depreciation expenses	(24)	(22)	(22)
Ending balance	€ 9	€ 33	€ 34

Financial liabilities

12 Months Ended

Dec. 31, 2023

Financial liabilities

Financial liabilities

21 Financial liabilities

21.1Interest-bearing loans


in EUR k	Dec 31, 2023	Dec 31, 2022
Non‑current liabilities
Non‑current portion of secured bank loans	39,880	40,051
Total non‑current loans	39,880	40,051
Lease liabilities	12,399	13,125
Total non‑current liabilities	52,279	53,176

Current liabilities
Current portion of secured bank loans	—	1,261
Convertible loan	25,882	—
Bank overdrafts	—	3,374
Total current loans	25,882	4,635
Current portion of lease liabilities	2,178	2,311
Total current liabilities	28,060	6,946

Total non‑current and current liabilities	80,339	60,122

As of December 2023, short-term cash deposits of EUR 425k (2022: EUR 443k) were used to secure the remaining lease outstanding balance.

The following table is based on the original terms and conditions:

Conditions and statement of liabilities

The outstanding interest-bearing loans as of December 31, 2023 and 2022 have the following conditions:


				Dec 31, 2023			Dec 31, 2022
		Nominal		Nominal	Fair	Carrying	Nominal	Fair	Carrying
in EUR k	Currency	interest rate	Maturity	amount	Value	amount	amount	Value	amount
Convertible Loan	USD	12.80%	2024	27,127	25,882	25,882	—	—	—
Secured bank loan	USD	8.15%	2028	40,691	39,880	39,880	39,015	41,312	41,312
Bank overdrafts	EUR	0.00%	Rollover	—	—	—	499	499	499
Bank overdrafts	EUR	0.00%	Rollover	—	—	—	2,376	2,376	2,376
Bank overdrafts	EUR	0.00%	Rollover	—	—	—	499	499	499
Lease liabilities*	EUR	2.1%-7.55%*	2017-31	14,577	14,577	14,577	15,436	15,436	15,436
Total interest‑bearing financial liabilities				82,395	80,339	80,339	57,825	60,122	60,122

* represents the incremental borrowing rate of the Group at the commencement of the leases

Secured bank loan

On January 31, 2022, the Company, Centogene GmbH, CentoSafe B.V. and Centogene US, LLC (together, the “Borrowers”), entered into a debt financing agreement in the total amount of up to USD 45.0 million (EUR 40.2 million). Under the terms of the Loan Facility, the Company drew down USD 25.0 million (EUR 22.3 million) on January 31, 2022, and a second tranche of USD 20.0 million (EUR 18.6 million) upon achievement prior to July 31, 2023, of product revenue from our diagnostics and pharmaceutical segments of at least USD 50.0 million (EUR 44.3 million) calculated on a trailing twelve month basis as of the last day of any fiscal month. The Loan Facility also includes covenants such that the Group is required to maintain product revenue, calculated as of the last day of each fiscal quarter and on a trailing twelve-month basis as of such date, of at least EUR 30.0 million for any fiscal quarter prior to obtaining the second tranche and EUR 40.0 million for any fiscal quarter on or after obtaining the second tranche. Both tranches mature on January 29, 2027, with amortized repayments commencing March 1, 2025. The loans extended under the Loan Facility bear monthly interest payments at an interest rate of 7.93% per annum plus the 1-month CME Term SOFR reference rate as published by the CME Group Benchmark Administration Limited (the first tranche, “Tranche A”, subject to a floor of 0.07% and the second tranche, “Tranche B”, subject to a floor of 4.13%). As security for the Borrowers’ obligations under the Loan Facility, the Borrowers granted the lenders thereunder a first priority security interest on all of each Borrower’s assets.

The Loan and Security Agreement with Oxford Finance was amended on April 30, 2023 which introduced new requirements that the Group will prepay any outstanding loans under the Loan and Security Agreement in an amount of USD 5.0 million (plus fees, interest and expenses, in each case, pursuant to the terms of the Loan and Security Agreement) upon the first new business development or financing transaction the Group will enter and maintain at least EUR 9.1 million in unrestricted cash on deposit in collateral accounts subject to the Lender’s perfected security interest granted under the Loan and Security Agreement. On October 26, 2023 a new amendment was signed. This third amendment modified the existing requirements whereby (i) a reduction in interest rate has been introduced, and (ii) maturity date has been extended. Additionally, the USD 5 million prepayment requirement has been removed and as well as the requirement to hold EUR 9.1 million in unrestricted cash on deposit.

The Company determined the impact of the new amendment changes and applied the guidance set out in IFRS 9 ‘Financial Instruments’ and determined that there was a contract modification. The resulting analysis revealed that that there is no change in the principal amount, that there was a change in interest rate (from 7.93% down to 6.15% and the floor rate increased to 8.15% from 8.00%). Furthermore, there was a change in the payment terms extending the maturity date (by one year to January 29, 2028). Management analyzed this modification taking both qualitatively and quantitatively determining that this was not a substantial modification for the purposes of IFRS 9. The difference between the present value of the new liability and the carrying amount of the original liability is recognized as a gain of EUR 491k, adjusting the liability (as a catch-up adjustments). Transaction costs incurred in the modification are deducted from the liability and expensed during the new life of the agreement, amounting to EUR 645k. The effective interest rate used for the modified amortized cost calculation of Tranche A is 11.38% and for the Tranche B is 17.14%.

In 2022, the Loan Facility was initially recognized at fair value minus transaction costs and subsequently carried at amortized cost measured using the effective interest rate method. The transaction costs deducted from the fair value of the Loan Facility at initial recognition were EUR 1,403k. The effective interest rate used initially for amortized cost calculation of Tranche A is 11.36% and for the Tranche B is 17.11%.

Convertible Loan

On October 26, 2023, the Company (the ""Borrower"") and Pharmaceutical Investment Company, LLC (“PIC” or the "Lender"), entered into a debt financing agreement in the total amount of up to USD 30.0 million (EUR 28.3 million). Under the terms of the Convertible Loan Facility, the Company drew down USD 30.0 million (EUR 28.3 million) on October 26, 2023, in one tranche only, and the maturity date is April 26, 2024. The interest is accrued daily on the Principal Amount of the Loan at a rate per annum equal to 12.8%.

The Lender may, at its option, convert the Loan into Conversion Consideration. The Lender may convert the Loan in its entirety at any time after the date upon which the 30-day volume-weighted average price of the Common Shares has been at least the Conversion Price per Common Share for at least 20 Trading Days (whether or not consecutive) during a period of 30 consecutive Trading Days.

The type and amount of consideration (the “Conversion Consideration”) due in respect of the Principal Amount of the Loan to be converted will be a number of Common Shares equal to the quotient obtained by dividing (1) the Principal Amount of the Loan plus accrued and unpaid interest by (2) the Conversion Price of USD 2.2 then in effect on the Conversion Date (the first Business Day on which the requirements set forth in the Agreement to convert the Loan are satisfied) or Fundamental Change Conversion Date for such conversion (the date fixed for the conversion of the Loan pursuant to the occurrence of a Fundamental Change).

Fundamental Change is considered when the following occurred: the acquisition by any party (or parties acting in concert) of Common Shares representing more than fifty percent (50%) of the voting power of all of the Borrower’s Common Shares; the consummation of (i) any sale, lease or other transfer, in one transaction or a series of transactions, of all or substantially all of the assets of the Borrower and its Subsidiaries, taken as a whole, to any Person; or (ii) any transaction or series of related transactions (whether by means of merger, demerger, consolidation, share exchange, business combination, reclassification, recapitalization, acquisition, liquidation or otherwise), the result of which is the Borrower’s shareholders prior to such transaction or series of transactions cease to own more than fifty percent (50%) of all classes of common equity of the Borrower or its successor following any such transaction or series of transactions; or the Borrower’s shareholders approve any plan or proposal for the liquidation or dissolution of the Borrower), plus the Conversion Fee Shares (result of dividing USD 1,000,000 by the Conversion Price then in effect).

The initial number of Conversion Shares to be delivered upon conversion of the Loan is 15,000,000 (representing (i) a number of Common Shares of the Company equal to the quotient obtained by dividing (x) the Principal Amount of the Loan plus accrued and unpaid interest (which, in no event shall be less than USD 2,000,000) by (y) the Conversion Price plus (ii) the Conversion Fee Shares) provided.

Management assessed the accounting treatment of the Convertible Loan and analyzed the possibility of conversion at maturity date, determining the Loan should be accounted as a financial liability using the effective interest rate method as there are some circumstances in which the Company should repay the Loan in case of no conversion at maturity date. Management also considered the embedded rights that could only occur upon certain conditions being met, concluding that these were not bifurcated and had a value of zero. As of December 31, 2023, the Company has recognized the loan at amortized cost measured using the effective interest rate method. The transaction costs deducted at initial recognition were EUR 3,023k. The effective interest rate used for amortized cost calculation is 43.37%. In addition, as of May 12, 2024, the Company and “PIC” signed a new amendment to the Convertible Loan agreement in which the maturity date has been changed (See Note 29 for further details).

Bank overdrafts

The bank overdrafts of EUR nil as of December 31, 2023 (2022: EUR 2,376k) were secured by short-term deposits with a carrying amount of EUR 500k (2022: EUR 2,500k) (see Note 18). The other bank overdrafts of EUR nil (2022: EUR 998k) were secured over two short-term deposits with a carrying amount of EUR 500k in 2022 (see Note 18).

21.2Trade payables and other liabilities


in EUR k	Dec 31, 2023	Dec 31, 2022
Trade payables	5,628	6,317
Government grants (deferred income)	6,685	7,950
Contract liabilities	694	651
Warrant liability	394	260
Derivative liabilities	242	376
Others	7,961	9,601
Trade payables and other liabilities	21,604	25,155
Non‑current	6,385	7,726
Current	15,219	17,429

Government grants mainly include investment-related government grants. These were received for the purchase of certain items of property, plant and equipment for the research and development facilities in Mecklenburg-Western Pomerania, including the Rostock facility. The grants were issued in the form of investment subsidies as part of the joint federal and state program, “Verbesserung der regionalen Wirtschaftsstruktur” (improvement of the regional economic structure) in connection with funds from the European Regional Development Fund. No additional grants received during the year ended December 31, 2023 (2022: EUR 506k; 2021: EUR 168k).

Contract liabilities mainly contain the deferred revenues recognized for advance payments received by the customers; in case the revenue is recognized over time. The increase of the period is mainly due to the new collaborations entered during the current year partially offset by the release of certain amounts related to advance payments made in prior years, netting to an increase of EUR 43k (2022: EUR 1,915k decrease; 2021: EUR 3,201k decrease), for the revenues recognized in 2023 based on the satisfaction of the related performance obligations.

On January 31, 2022, pursuant to a securities purchase agreement and a warrant agreement, each signed with certain investors, the Group received EUR 15.0 million in exchange for the issuance of an aggregate of 4,479,088 common shares at a price per share of USD 3.73 (EUR 3.35) and warrants initially exercisable for the purchase of up to an aggregate of 1,343,727 additional common shares at an initial exercise price per common share of USD 7.72. The warrants are exercisable immediately as of the date of issuance and will expire on December 31, 2026. Based on the fair value per share at the issuance date, the Group recognized the warrants as liabilities in the amount of USD 3.2 million (EUR 2.8 million). The fair value of warrants increased from EUR 0.19 per warrant as of December 31, 2022, to EUR 0.29 per warrant as of December 31, 2023. The result is an increase in fair value of warrant liabilities of EUR 159k for the period ended December 31, 2023.

The fair value of the warrants was estimated at the date of issuance date using the Black-Scholes-Merton option pricing model. The key assumptions used to derive the warrants value are set out below:


	Dec 31, 2023	Dec 31, 2022
Exercise price (USD)	7.72	7.72
Share price (USD)	1.20	0.93
Volatility (%)	100.00	85.00
Risk-free interest rate (%)	4.12	4.15
Dividend yield (%)	nil	nil
Time to maturity	3.00	4.00

Other liabilities include an accrual for outstanding invoices of EUR 1,161k (2022: EUR 1,074k; 2021: EUR 4,978k), personnel-related liabilities for vacation and bonuses totaling EUR 3,559k (2022: EUR 3,717k; 2021: EUR 4,812k), a VAT payable of EUR nil (2022: EUR nil; 2021: EUR 905k), an accrual for closings and audit of financial statements of EUR 1,422k (2022: EUR 1,648k; 2021: EUR 932k) as well as liabilities for wage and church tax of EUR 328k (2022: EUR 342k; 2021: EUR 1,040k).

Financial instruments-fair values and risk management (Tables)

12 Months Ended

Dec. 31, 2023

Financial instruments-fair values and risk management

Schedule of assets and liabilities that are measured at fair value on a recurring basis


in EUR k	Level 1	Level 2	Level 3	Carrying value	Measurement Category
Non-current loans	—	(39,880)	—	(39,880)	Amortized Cost
Current loans	—	(25,882)	—	(25,882)	Amortized Cost
Warrants liability	—	—	(394)	(394)	FVTPL
Prepayment option derivative asset	—	—	799	799	FVTPL
Interest rate floor derivative liability	—	—	(242)	(242)	FVTPL

Schedule of profit or loss impact on the fair values of Level 3 instruments


	2023
in EUR k	Shift	increase	decrease
Option (yield) - Credit Spread	+/- 10%	(144)	186
Option (yield) - Volatility	+/- 10%	94	(97)
Option (Floor) - Credit Spread	+/- 10%	6	(6)
Option (Floor) - Volatility	+/- 10%	—	—
Warrant - Volatility	+/- 5%	50	(50)

Schedule of information regarding the credit risk exposure of trade receivables and contract assets


As of December 31, 2023
									Past due by
	Total Gross				Past due 1 -		Past due 31‑ 90		more than 90
in EUR k	amount		Not past due		30 days		days		days
Middle East	18,820		8,352		1,143		1,961		7,364
Europe	3,490		3,103		152		195		40
Latin America	966		693		134		95		44
North America	801		696		105		—		—
Asia Pacific	240		161		35		43		1
Contract assets	181		181		—		—		—
Total	24,498		13,186		1,569		2,294		7,449
Expected credit loss rate	20.8	%	1.0	%	5.5	%	10.0	%	62.3	%
Expected credit loss	5,083		131		86		229		4,637


As of December 31, 2022

									Past due by
	Total Gross				Past due 1 -		Past due 31‑ 90		more than 90
in EUR k	amount		Not past due		30 days		days		days
Middle East	15,291		8,021		1,081		1,533		4,656
Europe	1,987		1,494		124		64		305
Latin America	825		742		62		12		9
North America	2,443		2,275		21		48		99
Asia Pacific	143		142		1		—		—
Contract assets	251		251		—		—		—
Total	20,940		12,925		1,289		1,657		5,069
Expected credit loss rate	21.0	%	1.0	%	3.9	%	7.4	%	80.8	%
Expected credit loss	4,392		124		50		122		4,096


As of December 31, 2021

					Past due by
	Total Gross		Past due 1 -	Past due 31‑ 90	more than 90
in EUR k	amount	Not past due	30 days	days	days
Middle East	13,967	3,999	1,013	2,056	6,899
Europe	11,486	10,771	351	259	105
Latin America	683	531	23	72	57
North America	2,513	2,513	—	—	—
Asia Pacific	130	115	9	6	—
Total	28,779	17,929	1,396	2,393	7,061
Expected credit loss rate	19.0%	2.0%	7.7%	11.7%	64.1%
Expected credit loss	5,317	403	107	280	4,526

Schedule of development of impairment losses relating to trade and other receivables


in EUR k	2023	2022	2021
As of January 1	4,392	5,317	4,693
Provision/(reversal) for expected credit losses	761	(829)	827
Derecognition of trade receivables	(70)	(96)	(203)
As of December 31	5,083	4,392	5,317

Schedule of residual contractual terms of financial liabilities, including estimated interest payments


		Contractually agreed cash flows
						More
Dec 31, 2023	Carrying		Less than	2 to 12	1 to 5	than
in EUR k	amount	Total	2 months	months	years	5 years
Bank overdrafts	—	—	—	—	—	—
Secured bank loans	39,880	57,598	778	3,969	52,851	—
Convertible Loan	25,882	28,936	—	28,936	—	—
Lease liabilities	14,577	16,577	446	2,228	8,452	5,451
Trade payables	5,628	5,628	5,628	—	—	—
	85,967	108,739	6,852	35,133	61,303	5,451


		Contractually agreed cash flows
						More
Dec 31, 2022	Carrying		Less than	2 to 12	1 to 5	than
in EUR k	amount	Total	2 months	months	years	5 years
Bank overdrafts	3,374	3,374	3,374	—	—	—
Secured bank loans	41,312	59,473	678	3,516	55,279	—
Lease liabilities	15,436	17,713	552	2,265	7,967	6,929
Trade payables	6,317	6,317	6,317	—	—	—
	66,439	86,877	10,921	5,781	63,246	6,929


		Contractually agreed cash flows
						More
Dec 31, 2021	Carrying		Less than	2 to 12	1 to 5	than
in EUR k	amount	Total	2 months	months	years	5 years
Bank overdrafts	3,310	3,310	3,310	—	—	—
Secured bank loans	505	505	105	400	—	—
Lease liabilities	18,724	21,777	703	3,337	8,844	8,893
Trade payables	11,252	11,252	11,252	—	—	—
	33,791	36,844	15,370	3,737	8,844	8,893

Schedule of reconciliation of liabilities arising from financing activities


			Non-cash changes
				Changes in
in EUR k	Jan 1, 2023	Cash flows	Additions	Non cash transactions	Dec 31, 2023
Non-current financial liabilities	53,176	(6,771)	8,659	(2,785)	52,279
Non-current portion of secured bank loans	40,051	(5,987)	6,423	(607)	39,880
Non-current lease liabilities	13,125	(784)	2,236	(2,178)	12,399
Current financial liabilities	6,946	19,815	1,695	(396)	28,060
Current portion of secured bank loans	1,261	—	—	(1,261)	—
Convertible loan	—	25,500	1,695	(1,313)	25,882
Bank overdrafts	3,374	(3,374)	—	—	—
Current lease liabilities	2,311	(2,311)	—	2,178	2,178
Total	60,122	13,044	10,354	(3,181)	80,340


			Non-cash changes
				Changes in
in EUR k	Jan 1, 2022	Cash flows	Additions	Non cash transactions	Dec 31, 2022
Non-current financial liabilities	15,394	36,631	65	1,086	53,176
Non-current portion of secured bank loans	—	38,965	—	1,086	40,051
Non-current lease liabilities	15,394	(2,334)	65	—	13,125
Current financial liabilities	7,145	(1,518)	1,319	—	6,946
Current portion of secured bank loans	505	(505)	1,261	—	1,261
Bank loans	—	—	—	—	—
Bank overdrafts	3,310	64	—	—	3,374
Current lease liabilities	3,330	(1,077)	58	—	2,311
Total	22,539	35,113	1,384	1,086	60,122

Schedule of net foreign currency exposure


	Dec 31, 2023
in EUR k	USD	INR	AED	SAR
Trade receivables	1,283	—	—	—
Trade payables and other liabilities	(3,185)	—	—	—
Net exposure	(1,902)	—	—	—


	Dec 31, 2022

in EUR k	USD	INR	AED	SAR
Trade receivables	3,720	8	—	—
Trade payables and other liabilities	(2,701)	—	—	—
Net exposure	1,019	8	—	—


	Dec 31, 2021

in EUR k	USD	INR	AED	SAR
Trade receivables	2,604	8	—	—
Trade payables and other liabilities	(2,394)	(4)	—	—
Net exposure	210	4	—	—

Schedule of exchange rate sensitivity


	Earnings before tax		Equity
in EUR k	5% increase	5% decrease	5% increase	5% decrease
December 31, 2023	31	(34)	31	(34)
December 31, 2022	(94)	104	(94)	104

Share-based payments (Tables)

12 Months Ended

Dec. 31, 2023

Share-based payments

Schedule of key assumptions used to derive the option value


	Number of awards
Outstanding as of January 1, 2023	-
Granted during the year 2023	908,192
Forfeited during the year 2023	(139,790)
Exercised during the year 2023	-
Outstanding as of December 31, 2023	768,402
Vested as of December 31, 2023	-
Exercisable as of December 31, 2023	-

Schedule of total expenses arising from share-based payment transactions


in EUR k	2023	2022	2021
Expenses arising from equity-settled share-based payment transactions
- ESOP 2019, including replacement by RSUs	653	2,376	7,000
- Grants to management board and employees	2,205	852	985
- Supervisory board grant	—	—	50
- Grants to other parties	258	—	—
- Reversals	(187)	(3,244)	—
Total expenses arising from share‑based payment transactions	2,929	(16)	8,035

Financial liabilities - Trade payables and other liabilities (Details) € / shares in Units, $ / shares in Units, € in Thousands, $ in Millions			12 Months Ended
	Jan. 31, 2022 EUR (€) € / shares shares	Jan. 31, 2022 USD ($) shares	Dec. 31, 2023 EUR (€) € / shares	Dec. 31, 2022 EUR (€) € / shares	Dec. 31, 2021 EUR (€)	Jan. 31, 2022 $ / shares shares
Financial liabilities
Trade payables			€ 5,628	€ 6,317
Government grants (deferred income)			6,685	7,950
Contract liabilities			694	651
Warrant liability			394	260
Deferred income including contract liabilities			694	651	€ 2,506
Derivative liabilities			242	376
Others			7,961	9,601
Trade payables and other liabilities			21,604	25,155
Non-current			6,385	7,726
Current			15,219	17,429
Grants received for investment in property, plant and equipment			0	506	168
Revenue from performance obligations satisfied			43	1,915	3,201
Provision for outstanding invoices			1,161	1,074	4,978
Personnel related liabilities for vacation and bonuses			3,559	3,717	4,812
VAT payable			0	0	905
Provision for Closings and Audit of Financial Statements			1,422	1,648	932
Liabilities for wage and church tax			€ 328	€ 342	€ 1,040
Amount of warrant liabilities per share \| € / shares			€ 0.29	€ 0.19
Increase in fair value of warrant liabilities			€ 159	€ (2,574)
Increase In Fair Value Of Warrant Liabilities			€ 159
Net offering proceeds, after deducting underwriting discounts, commissions and transaction costs	€ 15,000
Shares issued during period \| shares	4,479,088	4,479,088
Share price \| (per share)	€ 3.35					$ 3.73
Number of securities called by warrants \| shares	1,343,727					1,343,727
Exercise price of warrants \| $ / shares						$ 7.72
Value of other equity instruments granted under share based payment arrangement	€ 2,800	$ 3.2

Other income and expenses - Other operating expenses (Details) - EUR (€)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Other income and expenses
Currency losses	€ 1,111	€ 0	€ 0
Currency losses	431,000	741,000	86,000
Total other operating expenses	€ 431,000	€ 741,000	€ 86,000

Discontinued operations (Details) - EUR (€) € / shares in Units, € in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Mar. 31, 2022
Discontinued operations
Inventories	€ 2,463	€ 1,819
Revenue	48,536	47,473	€ 42,234
Cost of sales	31,287	27,712	28,735
Gross profit	17,249	19,761	13,499
General administrative expenses	32,588	32,587	43,480
Selling expenses	12,564	9,924	9,326
Other operating income	11,848	3,774	2,894
Other operating expenses	(431)	(741)	(86)
Operating loss	(29,659)	(36,773)	(56,623)
Financial costs, net	€ 5,284	1,823	799
Income before taxes		6,875	11,152
Income for the period		6,862	11,106
COVID 19 Segment Discontinued Operations
Discontinued operations
Inventories				€ 0
Deconsolidation on net income		1,640
Revenue		19,455	146,334
Cost of sales		15,120	131,713
Gross profit		4,335	14,621
General administrative expenses		503	3,259
Selling expenses		7	534
Other operating income		3,096	373
Operating loss		6,921	11,201
Financial costs, net		46	49
Income before taxes		6,875	11,152
Income tax expenses		13	46
Income for the period		6,862	11,106
Total comprehensive income, attributable to equity holders of the parent		€ 6,862	€ 11,106
Net income per share - Basic and diluted (in EUR)
Basic earnings (loss) per share from discontinued operations (in EUR)		€ 0.26	€ 0.49
Diluted earnings (loss) per share from discontinued operations (in EUR)		€ 0.26	€ 0.49
COVID 19 Segment Discontinued Operations \| Bauer GmbH
Discontinued operations
Termination fees payable		€ 1,640

Other income and expenses

12 Months Ended

Dec. 31, 2023

Other income and expenses

Other income and expenses

8 Other income and expenses

8.1Other operating income


in EUR k	2023	2022	2021

Government grants	1,488	1,958	2,263
Gain on disposal of property, plant and equipment	56	53	18
VAT refund from tax authorities	1,953	970	—
Sale of IP to JV	7,549	—	—
Others	802	793	613
Total other operating income	11,848	3,774	2,894

Government grants contain performance-based grants to subsidize research, development and innovation in the state of Mecklenburg-Western Pomerania from funds granted by the European Regional Development Fund. Furthermore, government grants contain the release of deferred income from investment related grants. VAT refund from tax authorities consist of the amounts received from 2016 to 2019 financial years as a result of a change made to the VAT tax declarations of Centogene GmbH in agreement with the tax administration in Germany. Based on the Technology Transfer and Intellectual Property License Agreement mentioned in Note 1, the Company has recognized a gain of EUR 7,549k related to income pertaining to the transfer of technology and the license of the company’s Intellectual Property (“IP”).

8.2Other operating expenses

8.3Financial costs, net


in EUR k	2023	2022	2021
Interest expenses from loans	(7,622)	(2,934)	(218)
Changes in FV of warrants	(159)	2,574	—
Changes in FV of floor	134	(376)	—
Changes in FV of prepayment option	288	510	—
Currency income/(loss)	2,445	(963)	—
Unwinding of the discount on lease liabilities	(579)	(637)	(584)
Interest income from loans and receivables	209	3	3
Total Financial costs, net	(5,284)	(1,823)	(799)

On January 31, 2022, the Company entered into the Loan Agreement with Oxford Finance LLC, whose terms have been modified on November 1, 2023. The interest expenses recognized for it during 2023 were EUR 5,881k (2022: EUR 2,806k; 2021: EUR nil). Related to the Oxford Loan, the Company also recognized EUR 1,408k of currency gains (2022: EUR 963k losses ; 2021: EUR nil) for the effects of the foreign exchange, EUR 288k (2022: EUR 510k; 2021: EUR nil) as positive impact of the changes in the fair value of the prepayment option, and EUR 134k as positive impact of the changes in the fair value of the floor (2022: EUR 376k ; 2021: EUR nil as negative impact).

In addition, the Company entered into a Convertible Loan Agreement as stated in Note 21.1. The interest expenses recognized for it during 2023 were EUR 1,656k (2022: EUR nil; 2021: EUR nil). In addition, the Company also recognized EUR 1,111k of currency gains (2022: EUR nil; 2021: EUR nil) for the effects of the foreign exchange.

8.4Employee benefits expense


in EUR k	2023	2022	2021
Wages and salaries	28,192	29,690	32,655
Social security contributions	4,499	4,415	4,588
Share‑based payments	2,158	(1,461)	5,471
Termination benefits	812	319	1,158
Total	35,661	32,963	43,872

Social security contributions include contributions to state pension scheme of EUR 1,745k (2022: EUR 1,790k; 2021: EUR 2,706k) as defined contribution plan expenses. Additionally, the Company recognized compensation expense of EUR 864k (2022: EUR 1,631k; 2021: EUR 3,252k) for remuneration of supervisory board members, including share-based payments.

During 2022, due to the departure of the former CEO Andrin Oswald, the former CFO René Just and former CIO Volkmar Weckesser in 2022, the share-based payment expenses included reversals of in previous periods recognized expenses based on cancelations and forfeiture of EUR 3,104k.

Investment in Joint Venture - Movement in investments accounted for by the equity method (Details) € in Thousands	12 Months Ended
	Dec. 31, 2023 EUR (€)
Investment in Associate
Addittions.	€ 4,973
Income (loss)	(302)
Transfers and others	(1,887)
As of December 31	2,784
JV
Investment in Associate
As of December 31	€ 2,784

Financial liabilities - Conditions and statement of liabilities (Details) € in Thousands, $ in Thousands		1 Months Ended				12 Months Ended			19 Months Ended
	Jan. 31, 2022 EUR (€)	Jul. 31, 2023 EUR (€)	Jul. 31, 2023 USD ($)	Jan. 31, 2022 EUR (€)	Jan. 31, 2022 USD ($)	Dec. 31, 2023 EUR (€)	Dec. 31, 2022 EUR (€)	Dec. 31, 2021 EUR (€)	Jul. 31, 2023 EUR (€)	Jul. 31, 2023 USD ($)	Dec. 31, 2023 USD ($)	Oct. 26, 2023 EUR (€)	Oct. 26, 2023 USD ($)	Apr. 30, 2023 EUR (€)	Apr. 30, 2023 USD ($)	Dec. 31, 2022 USD ($)	Jan. 31, 2022 USD ($)
Financial liabilities
Principal amount						€ 82,395	€ 57,825
Borrowings drawdowns						25,500	40,568	€ 1,772
Carrying amount						80,339	60,122
Bank overdrafts						0	998
Financial liabilities, at fair value						80,339	60,122
Bank Overdrafts Secured By Short-Term Deposits.						€ 0	2,376
Secured Bank Loans With Maturity Period 2022 To 27
Financial liabilities
Nominal interest rate (as a percent)						8.15%					8.15%
Principal amount \| $											$ 40,691					$ 39,015
Carrying amount \| $											39,880					41,312
Financial liabilities, at fair value \| $											$ 39,880					$ 41,312
Interest rate						8.15%					8.15%
Bank overdrafts, one
Financial liabilities
Nominal interest rate (as a percent)						0.00%					0.00%
Principal amount							499
Carrying amount							499
Financial liabilities, at fair value							499
Interest rate						0.00%					0.00%
Bank overdrafts, two
Financial liabilities
Nominal interest rate (as a percent)						0.00%					0.00%
Principal amount							2,376
Carrying amount							2,376
Financial liabilities, at fair value							2,376
Interest rate						0.00%					0.00%
Bank overdrafts, three
Financial liabilities
Nominal interest rate (as a percent)						0.00%					0.00%
Principal amount							499
Carrying amount							499
Financial liabilities, at fair value							499
Interest rate						0.00%					0.00%
Lease liabilities
Financial liabilities
Principal amount						€ 14,577	15,436
Carrying amount						14,577	15,436
Financial liabilities, at fair value						€ 14,577	€ 15,436
Convertible Loan [Member]
Financial liabilities
Nominal interest rate (as a percent)						12.80%					12.80%
Principal amount \| $											$ 27,127
Carrying amount \| $											25,882
Financial liabilities, at fair value \| $											$ 25,882
Interest rate						12.80%					12.80%
Minimum \| Lease liabilities
Financial liabilities
Nominal interest rate at commencement of leases						2.10%	2.10%				2.10%					2.10%
Maximum \| Lease liabilities
Financial liabilities
Nominal interest rate at commencement of leases						7.55%	7.55%				7.55%					7.55%
Overdraft facility
Financial liabilities
Short-term deposits, pledged as security						€ 500	€ 2,500
Second Overdraft facility
Financial liabilities
Short-term deposits, pledged as security							€ 500
Loan facility
Financial liabilities
Nominal interest rate (as a percent)	7.93%			7.93%													7.93%
Interest rate	7.93%			7.93%													7.93%
Transaction Cost						€ 1,403
Loan facility \| Centogene GmbH, CentoSafe B.V, and Centogene US, LLC [Member]
Financial liabilities
Principal amount	€ 40,200			€ 40,200													$ 45,000
Loan facility \| Centogene GmbH, CentoSafe B.V, and Centogene US, LLC [Member] \| Diagnostic and pharmaceutical [Member]
Financial liabilities
Product Revenue As Part Of Covenants For Loan Facility									€ 44,300	$ 50,000
Loan facility first tranche
Financial liabilities
Nominal interest rate (as a percent)						11.36%					11.36%
Product Revenue As Part Of Covenants For Loan Facility				30,000
Interest rate						11.36%					11.36%
Borrowings interest rate	0.07%
Loan facility first tranche \| Centogene GmbH, CentoSafe B.V, and Centogene US, LLC [Member]
Financial liabilities
Borrowings drawdowns				22,300	$ 25,000
Loan facility second tranche
Financial liabilities
Nominal interest rate (as a percent)						17.11%					17.11%
Product Revenue As Part Of Covenants For Loan Facility				€ 40,000
Interest rate						17.11%					17.11%
Borrowings interest rate	4.13%
Loan facility second tranche \| Centogene GmbH, CentoSafe B.V, and Centogene US, LLC [Member]
Financial liabilities
Borrowings drawdowns		€ 18,600	$ 20,000
Security agreement
Financial liabilities
Loans Requirement \| $															$ 5,000
Unrestricted Cash On Deposit														€ 9,100
Third amendment to loan and security agreement
Financial liabilities
Loans Requirement \| $													$ 5,000
Unrestricted Cash On Deposit												€ 9,100
Transaction Cost						€ 645
Gains on change in fair value of liability						€ 491
Third amendment to loan and security agreement \| Minimum
Financial liabilities
Nominal interest rate (as a percent)						6.15%					6.15%
Effective interest rate (as a percent)						11.38%					11.38%
Interest rate						6.15%					6.15%
Borrowings interest rate						8.00%
Third amendment to loan and security agreement \| Maximum
Financial liabilities
Nominal interest rate (as a percent)						7.93%					7.93%
Effective interest rate (as a percent)						17.14%					17.14%
Interest rate						7.93%					7.93%
Borrowings interest rate						8.15%

Right-of-use assets (Tables)

12 Months Ended

Dec. 31, 2023

Right-of-use assets.

Schedule of carrying amounts of right-of-use assets and movements during the period


			Plant and	Other	Motor
In EUR k	Buildings*	Offices	equipment	equipment	Vehicles	Total


As of Jan 1, 2021	12,005	4,176	4,587	1,315	37	22,120
Additions	—	133	1,121	179	19	1,452
Transfers to property, plant & equipment**	—	—	(672)	—	—	(672)
Depreciation expenses	(1,121)	(970)	(1,745)	(138)	(22)	(3,996)
As of December 31, 2021	10,884	3,339	3,291	1,356	34	18,904
Additions	—	112	95	—	21	228
Transfers to property, plant & equipment**	—	—	(772)	(127)	—	(899)
Depreciation expenses	(1,124)	(529)	(1,081)	(127)	(22)	(2,882)
As of December 31, 2022	9,760	2,922	1,533	1,102	33	15,351
Additions	866	13	975	—	—	1,854
Transfers to property, plant & equipment**	—	—	(1,627)	—	—	(1,627)
Depreciation expenses	(1,133)	(364)	(422)	—	(24)	(1,943)
As of December 31, 2023	9,493	2,571	459	1,102	9	13,635

* As the lease of land and buildings are made through one contract, all the related right-of-use assets are allocated to Buildings.

** Transfers of leased assets to PP&E (Note 13) represents purchased assets at the end of lease term.

Schedule of carrying amounts of lease liabilities and the movements during the period


in EUR k	2023	2022	2021

As of January 1	15,436	18,724	21,205
Additions	1,657	204	1,452
Interest expenses	579	637	584
Disposals	—	—	(273)
Payments	(3,095)	(4,129)	(4,244)
As of December 31	14,577	15,436	18,724

Current	2,178	2,311	3,330
Non-current	12,399	13,125	15,394

Schedule of amounts recognised in profit or loss related to leases


in EUR k	2023	2022	2021
Depreciation expense of right-of-use assets	1,943	2,882	3,996
Interest expenses on lease liabilities	579	637	584
Rent expenses—short-term leases	175	770	7,175
Rent expense—leases of low-value assets	21	27	48
Total amounts recognized in profit or loss	2,718	4,316	11,803

Right-of-use assets - Carrying amounts of lease liabilities and the movements during the period (Details) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Right-of-use assets.
Beginning balance	€ 15,436	€ 18,724	€ 21,205
Additions	1,657	204	1,452
Interest expenses	579	637	584
Interest expenses	579	637	584
Disposals			(273)
Payments	(3,095)	(4,129)	(4,244)
Ending balance	14,577	15,436	18,724
Current lease liabilities.	2,178	2,311	3,330
Non-current lease liabilities.	€ 12,399	€ 13,125	€ 15,394

Accounting judgments and estimates (Details) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Accounting judgments and estimates
Intangible assets other than goodwill	€ 6,850	€ 7,400	€ 9,194
Percentage of estimated Variable Transaction Price	95.00%	98.00%	82.00%
Group
Accounting judgments and estimates
Estimated Rate of Implicit Price Concessions	5.00%	2.00%	18.00%
Cost
Accounting judgments and estimates
Intangible assets other than goodwill	€ 34,793	€ 32,554	€ 30,827	€ 28,040

Segment information and revenue from contracts with customers - Geographical information (Details) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Disclosure of operating segments
Rendering of services	€ 48,052	€ 46,778	€ 41,472
Sales of goods	484	695	762
Total Revenues from contracts with external customers	48,536	47,473	42,234
Europe
Disclosure of operating segments
Total Revenues from contracts with external customers	7,729	6,288	5,915
-Germany
Disclosure of operating segments
Total Revenues from contracts with external customers	95	307	211
-Netherlands
Disclosure of operating segments
Total Revenues from contracts with external customers	2	7	6
Middle East
Disclosure of operating segments
Total Revenues from contracts with external customers	20,739	19,902	16,432
-Saudi Arabia
Disclosure of operating segments
Total Revenues from contracts with external customers	13,379	12,412	9,865
North America
Disclosure of operating segments
Total Revenues from contracts with external customers	14,874	16,591	16,583
-United States
Disclosure of operating segments
Total Revenues from contracts with external customers	14,834	16,525	16,396
Latin America
Disclosure of operating segments
Total Revenues from contracts with external customers	4,306	3,907	2,593
Asia Pacific
Disclosure of operating segments
Total Revenues from contracts with external customers	888	786	711
Recognized over time.
Disclosure of operating segments
Total Revenues from contracts with external customers	48,052	46,778	41,472
Recognized at a point in time.
Disclosure of operating segments
Total Revenues from contracts with external customers	484	695	762
Pharmaceutical
Disclosure of operating segments
Rendering of services	14,318	15,420	14,879
Sales of goods	484	695	762
Total Revenues from contracts with external customers	14,802	16,115	15,641
Pharmaceutical \| Europe
Disclosure of operating segments
Total Revenues from contracts with external customers	291	361	490
Pharmaceutical \| Middle East
Disclosure of operating segments
Total Revenues from contracts with external customers	344	352	117
Pharmaceutical \| -Saudi Arabia
Disclosure of operating segments
Total Revenues from contracts with external customers	143
Pharmaceutical \| North America
Disclosure of operating segments
Total Revenues from contracts with external customers	14,126	15,346	14,940
Pharmaceutical \| -United States
Disclosure of operating segments
Total Revenues from contracts with external customers	14,126	15,346	14,940
Pharmaceutical \| Latin America
Disclosure of operating segments
Total Revenues from contracts with external customers	41	56	94
Pharmaceutical \| Recognized over time.
Disclosure of operating segments
Total Revenues from contracts with external customers	14,318	15,420	14,879
Pharmaceutical \| Recognized at a point in time.
Disclosure of operating segments
Total Revenues from contracts with external customers	484	695	762
Diagnostics
Disclosure of operating segments
Rendering of services	33,734	31,358	26,593
Total Revenues from contracts with external customers	33,734	31,358	26,593
Diagnostics \| Europe
Disclosure of operating segments
Total Revenues from contracts with external customers	7,438	5,927	5,425
Diagnostics \| -Germany
Disclosure of operating segments
Total Revenues from contracts with external customers	95	307	211
Diagnostics \| -Netherlands
Disclosure of operating segments
Total Revenues from contracts with external customers	2	7	6
Diagnostics \| Middle East
Disclosure of operating segments
Total Revenues from contracts with external customers	20,395	19,549	16,315
Diagnostics \| -Saudi Arabia
Disclosure of operating segments
Total Revenues from contracts with external customers	13,236	12,412	9,865
Diagnostics \| North America
Disclosure of operating segments
Total Revenues from contracts with external customers	748	1,245	1,643
Diagnostics \| -United States
Disclosure of operating segments
Total Revenues from contracts with external customers	708	1,179	1,456
Diagnostics \| Latin America
Disclosure of operating segments
Total Revenues from contracts with external customers	4,265	3,851	2,499
Diagnostics \| Asia Pacific
Disclosure of operating segments
Total Revenues from contracts with external customers	888	786	711
Diagnostics \| Recognized over time.
Disclosure of operating segments
Total Revenues from contracts with external customers	€ 33,734	€ 31,358	€ 26,593

Related parties - Remuneration of members of key management (Details) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Related parties
Short-term employee benefits	€ 3,640	€ 4,138	€ 4,098
Post-employment pension and medical benefits			23
Termination benefits	50	679	235
Share-based payment transactions	1,460	(1,929)	822
Total compensation to key management	€ 5,150	€ 2,888	€ 5,178

Segment information and revenue from contracts with customers - Reconciliation of segment Adjusted EBITDA to Group loss before taxes (Details) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Segment information
Share-based payment income/(expenses)	€ (2,158)	€ 1,461	€ (5,471)
Depreciation and amortization (including impairments)	(7,610)	(8,932)	(10,464)
Operating loss	(29,659)	(36,773)	(56,623)
Financial costs, net	(5,284)	(1,823)	(799)
Investments accounted for by the Equity method	(302)
Income taxes	(287)	(107)	70
Loss for the period	(35,532)	(31,841)	(46,246)
Operating segment
Segment information
Reported segment Adjusted EBITDA	11,138	13,240	7,815
Reported segment Adjusted EBITDA after corporate expenses	(19,120)	(27,857)	(38,124)
Operating loss	(29,659)	(36,773)	(56,623)
Financial costs, net	(5,284)	(1,823)	(799)
Investments accounted for by the Equity method	(302)
Income taxes	(287)	(107)	70
Loss for the period	(35,532)	(38,703)	(57,352)
Corporate
Segment information
Corporate expenses	(30,258)	(41,097)	(45,939)
Depreciation and amortization (including impairments)	(5,395)	(6,340)	(5,849)
Share-based payment income/(expenses)
Segment information
Share-based payment income/(expenses)	(2,929)	16	(8,035)
Depreciation and amortization
Segment information
Depreciation and amortization (including impairments)	€ (7,610)	€ (8,932)	€ (10,464)

Share-based payments - 2022 grants to CEO and CFO (Details) € / shares in Units, $ / shares in Units, € in Thousands								1 Months Ended	12 Months Ended
	Jun. 26, 2023 EUR (€)	Jun. 12, 2023 USD ($)	May 27, 2022 EquityInstruments € / shares	Feb. 01, 2022 USD ($) EquityInstruments	Feb. 01, 2022 € / shares	Jan. 31, 2022 EUR (€)	Jan. 31, 2022 USD ($)	May 31, 2022 shares	Dec. 31, 2023 EUR (€) shares installment tranche	Dec. 31, 2023 USD ($) shares tranche $ / shares	Dec. 31, 2022 EUR (€) Options shares	Dec. 31, 2021 EUR (€) Options	Dec. 31, 2022 $ / shares
Share-based payments
Share-based payments \| €									€ 2,158		€ (1,461)	€ 5,471
Value of other equity instruments granted under share based payment arrangement						€ 2,800	$ 3,200,000
Chief Executive Officer
Share-based payments
Cash Bonus in Share-Based Payment Arrangement										$ 750,000
CFO
Share-based payments
Cash Bonus in Share-Based Payment Arrangement										300,000
Chief Executive Officer and Chief Financial Officer [Member]
Share-based payments
Incremental fair value		$ 0								20,000
If the Capital Raise is at least EUR 10,000k \| Chief Executive Officer
Share-based payments
Cash Bonus in Share-Based Payment Arrangement										375,000
Capital Raise \| €									10,000
If the Capital Raise is at least EUR 10,000k \| CFO
Share-based payments
Cash Bonus in Share-Based Payment Arrangement										150,000
If the capital raise exceeds EUR 10,000k \| Chief Executive Officer
Share-based payments
Cash Bonus in Share-Based Payment Arrangement										$ 300,000
Capital Raise \| €									€ 10,000
Capital Raise \| Pharmaceutical Investment Company
Share-based payments
Share-based payments \| €	€ 997
RSUs \| Chief Executive Officer
Share-based payments
Contractual life				10 years
Exercise price \| € / shares					€ 0
Vesting period									3 years	3 years
Exercised during the year \| $ / shares										$ 7
RSUs \| CFO
Share-based payments
Contractual life			10 years
Exercise price \| € / shares			€ 0
Percentage cash bonus in share-based payment arrangement									1.50%	1.50%
Performance Based RSUs \| CFO
Share-based payments
RSUs granted \| EquityInstruments			58,132
Time Based RSUs \| CFO
Share-based payments
RSUs granted \| EquityInstruments			55,556
Restricted Stock Units and Maximum Additional Restricted Stock Unit [Member] \| Chief Executive Officer and Chief Financial Officer [Member] \| Minimum
Share-based payments
Vesting percentage									50.00%	50.00%
Restricted Stock Units and Maximum Additional Restricted Stock Unit [Member] \| Chief Executive Officer and Chief Financial Officer [Member] \| Maximum
Share-based payments
Vesting percentage									100.00%	100.00%
SGAs
Share-based payments
RSUs granted \| shares									908,192	908,192
Number
Exercised during the year \| shares									0	0
Subject to time-vesting and performance vesting \| Chief Executive Officer
Share-based payments
Number of Installments \| installment									4
Subject to time-vesting and performance vesting \| RSUs \| Chief Executive Officer
Share-based payments
RSUs granted \| EquityInstruments				174,394
Share based awards subject to time-vesting [Member] \| RSUs \| Chief Executive Officer
Share-based payments
RSUs granted				166,667							1,052,227
Share based awards subject to time-vesting [Member] \| RSUs \| CFO
Share-based payments
RSUs granted \| shares								443,628
Annual RSUs \| RSUs \| Chief Executive Officer
Share-based payments
RSUs granted \| EquityInstruments				44,444
Annual RSUs \| Other RSUs granted to CEO \| Chief Executive Officer
Share-based payments
Value of other equity instruments granted under share based payment arrangement				$ 200,000
2019 Plan \| RSUs
Share-based payments
RSUs granted \| Options												167,326
WAEP
Vested as of December 31 \| $ / shares													$ 1.0
2019 Plan \| RSUs \| Minimum
Share-based payments
Number of tranches \| tranche									3	3
2019 Plan \| RSUs \| Maximum
Share-based payments
Number of tranches \| tranche									4	4
2019 Plan \| SGAs
Share-based payments
RSUs granted									908,192	908,192	425,093
2019 Plan \| SGAs \| Minimum
Share-based payments
Vesting period									3 years	3 years
Number of tranches \| tranche									3	3
2019 Plan \| SGAs \| Maximum
Share-based payments
Vesting period									4 years	4 years
Number of tranches \| tranche									4	4

Inventories (Tables)

12 Months Ended

Dec. 31, 2023

Inventories

Summary of inventories


in EUR k	Dec 31, 2023	Dec 31, 2022
Raw materials, consumables and supplies	2,268	1,801
Finished goods and merchandise	195	18
Inventories	2,463	1,819

Related parties

12 Months Ended

Dec. 31, 2023

Related parties

Related parties

27 Related parties

Transaction with shareholders

On January 31, 2022, pursuant to a securities purchase agreement and a warrant agreement, each signed with certain investors, the Group received EUR 15.0 million in exchange for the issuance of an aggregate of 4,479,088 common shares at a price per share of USD 3.73 (EUR 3.35) and warrants initially exercisable for the purchase of up to an aggregate of 1,343,727 additional common shares at an initial exercise price per common share of USD 7.72. The warrants are exercisable immediately as of the date of issuance and will expire on December 31, 2026. Based on the fair value per share at the issuance date, the Group recognized the warrants as liabilities in the amount of USD 3.2 million (EUR 2.8 million). We are not aware of any ordinary shares which were issued by the Company and sold in this transaction to related parties. The fair value of warrants increased from EUR 0.19 per warrant as of December 31, 2022, to EUR 0.29 per warrant as of December 31, 2023. The result is an increase in fair value of warrant liabilities of EUR 159k for the period ended December 31, 2023 (see note 23).

On June 26, 2023, the Company entered into a joint venture agreement (the “Joint Venture Agreement”) with Pharmaceutical Investment Company (“PIC” or “Lifera”) (see Note 1 and 15). During the year 2023, as mentioned in note 8.1, the Company has recognized a gain of EUR 7,549k related to income pertaining to the transfer of technology and the license of the company’s Intellectual Property (“IP”).

Remuneration of management in key positions

Key management have been defined as the members of the management board and the Company’s other key executive officers.


in EUR k	2023	2022	2021
Short‑term employee benefits	3,640	4,138	4,098
Post‑employment pension and medical benefits	—	—	23
Termination benefits	50	679	235
Share‑based payment transactions	1,460	(1,929)	822
Total compensation to key management	5,150	2,888	5,178

During 2023, due to the departure of Patrice Denèfle, the former CSO, the share-based payment expenses included a reversal of the costs previously recognized amounted to EUR 117k because of the cancelation of his plans. During 2022, due to the departure of the former CEO Andrin Oswald, the former CFO René Just and former CIO Volkmar Weckesser, the Company included reversals of share-based expenses recognized in previous periods and forfeiture of EUR 3,104k.

There are no pension commitments for members of the management board.

During 2023 1,495,855 RSUs were granted under the 2019 Plan to key management personnel which are recognized as share-based payment expenses in profit and loss (see Note 22). In addition, the Company granted a Capital Raise Bonus to the CEO and CFO. Therefore, the Company recognized expenses in the amount of EUR 1.0 million in profit and loss (see Note 22).

As of December 31, 2023, the Group has receivables of EUR nil (2022: EUR nil) recognized related to the exercise of options by key management personnel.

Remuneration of members of the Supervisory Board

The supervisory board received remuneration for its activities of EUR 224k in the reporting year (2022: EUR 216k; 2021: EUR 688k). In addition, as disclosed in note 22, certain members of the supervisory board received share-based awards under the 2019 Plan. For the year ended December 31, 2023, share-based payment expenses of EUR 741k (2022: EUR 1,446k, 2021: EUR 2,564k) related to these awards were charged to profit and loss.

Transactions with members of management in key positions and other related parties

The Company purchased supplies used for genetic sequencing from an entity related to a member of the supervisory board that joined the board in 2020. Expenses totaling EUR 812k (2022: EUR 699k) were charged to profit and loss related to the period of service of the board member.

The Company deconsolidated Dr. Bauer GmbH from April 2, 2022 (see Note 4 – Basis of consolidation) and assessed Dr. Bauer GmbH under IAS 24 as of the Deconsolidation Date. Accordingly, Dr. Bauer GmbH is a related party through Dr. Peter Bauer who is a key management personnel of Centogene.

Transactions with Dr. Bauer GmbH for the year ended December 31, 2023, was EUR 236k related to the collection of receivables costs related to Covid to CNTG GmbH (2022: EUR 1,815k).

As of December 31, 2023, the Group had receivables balances with Dr. Bauer GmbH of EUR nil (2022: EUR 321k) with a related provision for doubtful accounts of EUR nil (December 31, 2022: EUR 58k). However, the Company had payables balances with Dr. Bauer GmbH of EUR 80k (2022: EUR nil).

As mentioned above, on June 26, 2023, the Company entered into a joint venture agreement (the “Joint Venture Agreement”) with Pharmaceutical Investment Company (“PIC” or “Lifera”). As a result from the transfer of technology and the license of the company’s Intellectual Property (“IP”), which amounted to a EUR 9,436k, recognizing a gain of EUR 7,549k (Note 8.1 and 15).

Investment in Joint Venture - Statement of financial position and income statement of the JV (Details) € in Thousands, ر.س in Thousands	12 Months Ended
	Dec. 31, 2023 EUR (€)	Dec. 31, 2023 SAR (ر.س)	Dec. 31, 2022 EUR (€)	Dec. 31, 2021 EUR (€)	Dec. 31, 2023 SAR (ر.س)	Dec. 31, 2020 EUR (€)
Consolidated statements of financial position
Non-current assets	€ 33,136		€ 32,980
Current assets	44,019		59,832
Cash and cash equivalents	19,099		35,951	€ 17,818		€ 48,156
Assets	77,155		92,812
Equity	(25,282)		7,411	27,258		€ 64,926
Non-current liabilities	59,071		60,736
Current liabilities	43,366		24,665
Equity and liabilities	77,155		92,812
Consolidated statements of comprehensive loss
Operating loss	(29,659)		(36,773)	(56,623)
Loss before taxes	(35,245)		(38,596)	(57,422)
Loss for the period	(35,532)		(31,841)	(46,246)
Total comprehensive loss	(35,803)		€ (31,917)	€ (45,703)
JV \| Genomics Innovations Company Limited
Consolidated statements of financial position
Non-current assets	9,946				ر.س 40,000
Current assets	14,919				60,000
Cash and cash equivalents	14,919				60,000
Assets	24,865				100,000
Equity	23,328				93,818
Current liabilities	1,537				6,182
Equity and liabilities	24,865				ر.س 100,000
Consolidated statements of comprehensive loss
Operating loss	(1,465)	ر.س (6,000)
Loss before taxes	(1,465)	(6,000)
Loss for the period	(1,509)	(6,182)
Total comprehensive loss	€ (1,509)	ر.س (6,182)

Discontinued operations

12 Months Ended

Dec. 31, 2023

Discontinued operations

Discontinued operations

9 Discontinued Operations

At the end of the third quarter of 2021, management updated its long-term outlook for the COVID-19 testing business, which led to management’s decision to initiate a wind down process in which lease contracts at unprofitable COVID-19 testing sites would not be renewed. Similarly, COVID-19 related inventory levels were significantly ramped down to align with the needs of the remaining test sites and laboratories.

As of March 31, 2022, operations at all COVID-19 testing sites have ceased. The Company has not renewed any of the COVID-19 testing site leases and abandoned the COVID-19 business line. Consequently, the Company reported its COVID-19 segment as a discontinued operation.

All COVID-19 related property, plant and equipment were fully depreciated as of March 31, 2022. In addition, all COVID-19 related accounts receivable and accounts payable were included in the balance sheet as of March 31, 2022 whilst all COVID-19 related inventory were written down to zero.

As detailed in Note 5 (q), with the discontinuation of the COVID-19 business, the Group signed the Separation Agreement to terminate the collaboration agreement signed with Dr. Bauer GmbH, effective as of April 2, 2022. The Group deconsolidated Dr. Bauer GmbH from its financial statements as of that date and disclosed the impact of the deconsolidation under discontinued operations. With the Separation Agreement, Centogene ensures that any COVID-19 business related future obligations that might arise from the past activities of Dr. Bauer GmbH will be paid by Centogene in exchange for the EUR 1,640k termination fee which was recognized under Net income from discontinued operations, net of tax for the year ended December 31, 2022.

The impact of the Separation Agreement on net income for the period 2022 was EUR 1,640k, was recognized under discontinued operations.

Discontinued operations are presented separately from continuing operations in the consolidated statements of comprehensive loss and consolidated statements of cash flows.



in EUR k	2023	2022	2021
Results of discontinued operations
Revenue	-	19,455	146,334
Cost of sales	-	15,120	131,713
Gross profit	-	4,335	14,621
General administrative expenses	-	503	3,259
Selling expenses	-	7	534
Other operating income	-	3,096	373
Other operating expenses	-
Operating income	-	6,921	11,201
Financial costs, net	-	46	49
Income before taxes	-	6,875	11,152
Income tax expense	-	13	46
Income for the period	-	6,862	11,106
Total comprehensive income, attributable to equity holders of the parent	-	6,862	11,106
Net income per share - Basic and diluted (in EUR)	-	0.26	0.49

General company information

12 Months Ended

Dec. 31, 2023

General company information

General company information

1 General company information

Centogene N.V. (“the Company”) and its subsidiaries focus on providing data-driven answers to patients, physicians, and pharmaceutical companies for rare and neurodegenerative diseases. By integrating multiomic technologies with the CENTOGENE Biodatabank, we are able to provide dimensional analysis to guide the next generation of precision medicine. Our unique approach enables rapid and reliable diagnosis for patients, supports a more precise physician understanding of disease states, and accelerates and de-risks targeted pharmaceutical drug discovery, development, and commercialization.

Centogene N.V. is a public company with limited liability incorporated in the Netherlands, with registered office located at Am Strande 7 in 18055 Rostock, Germany and Dutch trade register number 72822872.

On January 31, 2022, pursuant to a securities purchase agreement and a warrant agreement signed with certain investors, we received EUR 15.0 million as consideration for the issuance by us of an aggregate of 4,479,088 common shares at a price per share of USD 3.73.

On June 26, 2023, the Company entered into a joint venture agreement (the “Joint Venture Agreement”) dated June 26, 2023 with Pharmaceutical Investment Company (“PIC” or “Lifera”), a closed joint stock company incorporated pursuant to the laws of Saudi Arabia and a wholly-owned subsidiary of the Public Investment Fund (PIF) based in Riyadh, to form a joint venture under the laws of Saudi Arabia. According to the joint venture agreement, the founding capital is to be provided 80% (SAR 80,000,000; EUR 19,892k) by PIC and 20% (SAR 20,000,000; EUR 4,973k) by the Company and will be used to finance business operations, including the establishment of a laboratory competence center in Saudi Arabia (“KSA”). This agreement was modified on October 23, 2023. Following this, a convertible loan agreement was signed on October 26, 2023. Cash of USD 30 million was received from PIC on October 30, 2023. Pursuant to the Joint Venture Agreement, and subject to the terms and conditions contained therein, the Company and PIC have agreed to establish a limited liability company in the kingdom of Saudi Arabia (the “JV”). The terms of which also include ancillary agreements pertaining to a Technology Transfer and Intellectual Property License Agreement, a Consultancy Agreement and a Laboratory Services Agreement, that were signed on November 27, 2023, between the Company and the JV. On November 19, 2023, Genomics Innovations Company Limited (the “JV”) was fully formed as a limited liability company organized under the laws of the Kingdom of Saudi Arabia. The JV is not running yet as of December 31, 2023 and is expected to begin operations during the end of the second quarter of 2024.

Financial instruments-fair values and risk management - Recurring basis (Details) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Disclosure of fair value measurement of liabilities [line items]
Warrant liability	€ (394)	€ (260)
Derivative liabilities	242	376
Gain recognized on warrant liability fair value measurement	159
Interest rate floor
Disclosure of fair value measurement of liabilities [line items]
Change in measurement of interest derivatives	288	(376)
Prepayment option
Disclosure of fair value measurement of liabilities [line items]
Change in measurement of interest derivatives	134	€ 510
Recurring
Disclosure of fair value measurement of liabilities [line items]
Non-current loans at amortised cost	(39,880)
Current loans	(25,882)
Warrant liability	(394)
Recurring \| Interest rate floor
Disclosure of fair value measurement of liabilities [line items]
Derivative liabilities	(242)
Recurring \| Prepayment option
Disclosure of fair value measurement of liabilities [line items]
Derivative asset	799
Recurring \| Level 2
Disclosure of fair value measurement of liabilities [line items]
Non-current loans at amortised cost	(39,880)
Current loans	(25,882)
Recurring \| Level 3
Disclosure of fair value measurement of liabilities [line items]
Warrant liability	(394)
Recurring \| Level 3 \| Interest rate floor
Disclosure of fair value measurement of liabilities [line items]
Derivative liabilities	(242)
Recurring \| Level 3 \| Prepayment option
Disclosure of fair value measurement of liabilities [line items]
Derivative asset	€ 799

Financial liabilities - Key assumptions to derive warrants value (Details)	Dec. 31, 2023 Y $ / shares	Dec. 31, 2022 Y $ / shares
Exercise price
Disclosure of sensitivity analysis of fair value measurement to changes in unobservable inputs, liabilities [line items]
Assumptions used to derive warrants value	7.72	7.72
Share price
Disclosure of sensitivity analysis of fair value measurement to changes in unobservable inputs, liabilities [line items]
Assumptions used to derive warrants value	1.20	0.93
Volatility
Disclosure of sensitivity analysis of fair value measurement to changes in unobservable inputs, liabilities [line items]
Assumptions used to derive warrants value	1.0000	0.8500
Risk-free interest rate
Disclosure of sensitivity analysis of fair value measurement to changes in unobservable inputs, liabilities [line items]
Assumptions used to derive warrants value	0.0412	0.0415
Dividend yield
Disclosure of sensitivity analysis of fair value measurement to changes in unobservable inputs, liabilities [line items]
Assumptions used to derive warrants value	0	0
Time to maturity
Disclosure of sensitivity analysis of fair value measurement to changes in unobservable inputs, liabilities [line items]
Assumptions used to derive warrants value \| Y	3.00	4.00

Segment information and revenue from contracts with customers - Information by operating segments (Details) € in Thousands	12 Months Ended
	Dec. 31, 2023 EUR (€) segment	Dec. 31, 2022 EUR (€)	Dec. 31, 2021 EUR (€)
Segment information
Number of reportable segments \| segment	2
Total Revenues from contracts with external customers	€ 48,536	€ 47,473	€ 42,234
Selling expense	12,564	9,924	9,326
Adjusted EBITDA	(19,120)	(27,857)	(38,124)
Depreciation and amortization (including impairments)	7,610	8,932	10,464
Research and development expenses	12,361	17,488	19,297
Share of income (loss) of investments accounted for by the equity method	(302)
Additions to property, plant and equipment and right-of-use assets	1,894	3,379	1,887
Additions to intangible assets	2,239	1,727	2,787
Other segment information
Research and development expenses	12,361	17,488	19,297
Pharmaceutical
Segment information
Total Revenues from contracts with external customers	14,802	16,115	15,641
Diagnostics
Segment information
Total Revenues from contracts with external customers	33,734	31,358	26,593
Operating segment
Segment information
Adjusted EBITDA EX	(19,120)	(27,857)	(38,124)
Operating segment \| Pharmaceutical
Segment information
Total Revenues from contracts with external customers	14,802	16,115	15,641
Adjusted EBITDA	1,589	6,802	4,785
Depreciation and amortization (including impairments)	877	801	2,076
Additions to property, plant and equipment and right-of-use assets	18	1,244	690
Additions to intangible assets	182	162	2,401
Operating segment \| Diagnostics
Segment information
Total Revenues from contracts with external customers	33,734	31,358	26,593
Adjusted EBITDA	5,087	6,438	3,030
Depreciation and amortization (including impairments)	1,338	1,790	2,539
Additions to property, plant and equipment and right-of-use assets	12	910	261
Additions to intangible assets		14
Operating segment \| JV
Segment information
Adjusted EBITDA	4,462
Share of income (loss) of investments accounted for by the equity method	(302)
Corporate
Segment information
Adjusted EBITDA	(30,258)	(41,097)	(45,939)
Depreciation and amortization (including impairments)	5,395	6,340	5,849
Research and development expenses	12,361	17,488	19,297
Additions to property, plant and equipment and right-of-use assets	1,864	1,225	936
Additions to intangible assets	€ 2,057	€ 1,551	€ 386

Income taxes

12 Months Ended

Dec. 31, 2023

Income taxes

Income taxes

10 Income taxes

Taxes recognized through profit or loss:


in EUR k	2023	2022	2021
Current tax expenses	85	(152)	(72)
Current year	(41)	(144)	(56)
Adjustments for prior periods	126	(8)	(16)
Deferred tax (expense)/income	(372)	45	142
Temporary differences	(372)	45	142
Tax losses	—	—	—
Total income tax (expenses)/benefit	(287)	(107)	70

No income taxes were recognized directly in other comprehensive income for the years ended December 31, 2023, 2022 and 2021.

A reconciliation of the effective tax rate to the Group’s statutory rate of 32.1% for the year ended December 31, 2023, and 31.2% for the years ended December, 31, 2022 and December, 31, 2021, respectively are presented in the table below.


in EUR k	2023	2022	2021
Loss before tax	(35,245)	(38,596)	(57,532)
Taxes on the basis of the Company’s domestic tax rate	11,314	12,390	14,642
Tax rate effect of foreign tax jurisdictions	(843)	78	882
Non‑deductible expenses	(3,530)	(125)	(3,030)
Current year losses for which no deferred tax assets were recognized	(7,088)	(12,472)	(12,211)
Tax income related to prior years	125	(37)	(17)
Other effects	(265)	59	(196)
Income tax (expenses)/ benefit	(287)	(107)	70

The domestic tax rate of 32.1% is composed of the corporate income tax rate of 15%, the solidarity surcharge of 5.5% of this corporate income tax, as well as trade tax of 16.3%. The tax rate effects from foreign tax jurisdictions are primarily attributable to the tax-exempt profit of a foreign Group subsidiaries.

Tax losses carryforwards for which no deferred tax assets were recognized amount to EUR 152,782k in Germany (2022: EUR 133,512k; 2021: EUR 85,639k) and to EUR 4,513k in other countries (2022: EUR 2,348k; 2021: EUR 1,083k). Deductible temporary differences, for which no deferred tax asset is recognized, amount to EUR 3,835k.

Tax losses carried forward in Germany do not expire. Foreign tax losses carried forward may be restricted. In the light of the Group’s loss history, the recognition of deferred taxes for tax losses carried forward and deductible temporary differences was limited to the future reversal of existing taxable temporary differences.

For temporary differences associated with investments in the amount of EUR 8,230k (2022: EUR 7,106k; 2021: EUR 5,656k), no deferred tax liability has been recognized because the Company is able to control the timing of the reversal and it is probable that the difference will not reverse in the foreseeable future.

The below table shows a breakdown of deferred taxes in the Group’s statement of financial position.


	December 31, 2023		December 31, 2022		December 31, 2021
	Deferred	Deferred	Deferred	Deferred	Deferred	Deferred
in EUR k	tax assets	tax liabilities	tax assets	tax liabilities	tax assets	tax liabilities
Intangible assets	—	(1,084)	—	(2,184)	—	(2,439)
Property, plant and equipment	—	(6)	—	(21)	—	(14)
Right-of-use assets	—	(4,158)	—	(4,186)	—	(4,617)
Measurement of service contracts	158	—	—	(35)	—	(42)
Leasing liabilities	4,082	—	4,168	—	4,563	—
Government grants	915	—	1,679	—	1,693	—
Loan Liability (Oxford)	—	(423)	—	—	—	—
Loan Liability (Convertible)	—	(643)	—	—	—	—
Measurement of Fx-effects unrealized	—	(602)	—	—	—	—
Unused tax losses	1,354	—	544	—	777	—
Sum	6,509	(6,916)	6,391	(6,426)	7,033	(7,112)
Offset	(6,509)	6,509	(6,391)	6,391	(7,033)	7,033
Deferred Taxes	—	(407)	—	(35)	—	(79)

Investment in Joint Venture (Details) € in Thousands, $ in Millions				12 Months Ended
	Oct. 30, 2023 USD ($)	Oct. 26, 2023 EUR (€)	Jun. 26, 2023 EUR (€)	Dec. 31, 2023 EUR (€)	Jun. 26, 2023 SAR (ر.س)
Investment in Associate
Investment in Joint Venture				€ 2,784
Share of (loss) income of investments accounted for by the Equity method			€ 9,436	9,436
Investments accounted for by the Equity method				€ (302)
JV
Investment in Associate
Founding capital (in percent)			20.00%	20.00%
Investment in Joint Venture			€ 4,973	€ 2,784	ر.س 20,000,000
Share of (loss) income of investments accounted for by the Equity method				(302)
Investments accounted for by the Equity method				€ 1,887
JV \| LIFERA
Investment in Associate
Founding capital (in percent)			80.00%
Investment in Joint Venture			€ 19,892		ر.س 80,000,000
Proceeds From Issuance Of Convertible Loan	$ 30	€ 28,300

Investment in Joint Venture - Investments accounted for by the Equity method and the share of (loss)/income of these investments (Details) € in Thousands		12 Months Ended
	Jun. 26, 2023 EUR (€)	Dec. 31, 2023 EUR (€)	Jun. 26, 2023 SAR (ر.س)
Investment in Associate
Investments accounted for by the equity method		€ 2,784
Share of (loss) income of investments accounted for by the Equity method	€ 9,436	€ 9,436
JV
Investment in Associate
% Holding	20.00%	20.00%
Investments accounted for by the equity method	€ 4,973	€ 2,784	ر.س 20,000,000
Share of (loss) income of investments accounted for by the Equity method		€ (302)
JV \| LIFERA
Investment in Associate
% Holding	80.00%
Investments accounted for by the equity method	€ 19,892		ر.س 80,000,000

Financial instruments-fair values and risk management - Interest rate risk (Details) - Interest rate risk - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Disclosure of nature and extent of risks arising from financial instruments [line items]
Percentage of increase in interest rate on earnings before tax	1.00%
Decrease in earnings due to 1% increase in interest rate	€ 422	€ (1,160)

Other income and expenses - Other operating income (Details) - EUR (€) € in Thousands		12 Months Ended
	Jun. 26, 2023	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Other income and expenses
Government grants		€ 1,488	€ 1,958	€ 2,263
Gain on disposal of property, plant and equipment		56	53	18
VAT refund from tax authorities		1,953	970
Sale of IP to JV	€ 7,549	7,549
Others		802	793	613
Total other operating income		€ 11,848	€ 3,774	€ 2,894

Significant accounting policies (Policies)

12 Months Ended

Dec. 31, 2023

Significant accounting policies

Foreign currency and currency translation

(a)Foreign currency and currency translation

The Group’s consolidated financial statements are presented based on the parent company’s functional currency. For each entity, the Group determines the functional currency and items included in the financial statements of each entity are measured using that functional currency. The Group uses the direct method of consolidation and on disposal of a foreign operation, the gain or loss that is reclassified to profit or loss reflects the amount that arises from using this method.

Transactions in foreign currency are translated into the respective entity’s functional currency at the spot rate prevailing on the date of the transaction.

The functional currency of each entity is the respective local currency, since the entities carry out their business activities independently from a financial, economic and organizational perspective.

Monetary assets and liabilities denominated in foreign currency are translated to the functional currency using the closing rate at the reporting date. Currency translation differences are recognized immediately through profit or loss. Non-monetary items denominated in a foreign currency that are measured at historical cost are not translated at the reporting date.

On consolidation, the assets and liabilities of foreign operations are translated into Euros using the closing rate on the reporting date. Income and expenses of foreign operations are translated using the exchange rate prevailing on the date of the transaction or the annual average exchange rate. Equity is translated using historical rates until the entity is removed from the Group’s basis of consolidation. Any resulting currency translation differences are recorded in other comprehensive income and recognized under the currency translation reserve in equity if the exchange difference is not allocable to the non-controlling interests.

The exchange rates used are presented in the following table:


	Average rate			Closing rate
				Dec 31,	Dec 31,	Dec 31,
	2023	2022	2021	2023	2022	2021
USD (EUR 1)	1.09	1.05	1.13	1.11	1.07	1.13
AED (EUR 1)	4.00	3.87	4.15	4.06	3.94	4.17
INR (EUR 1)	89.30	82.69	85.18	91.98	88.17	84.23
CHF (EUR 1)	0.94	1.00	1.08	0.93	0.98	1.03
SAR (EUR 1)	4.13	—	—	4.14	—	—
RSD (EUR 1)	116.91	117.46	117.39	116.91	117.33	117.27

Revenues from contracts with customers

(b)Revenues from contracts with customers

The Group provides pharmaceutical solutions and diagnostic tests, enabled by its knowledge and interpretation-based platform. Revenue from contracts with customers is recognized when control of the goods are transferred to the customer or over the time as services are performed, at an amount that reflects the consideration to which the Group expects to be entitled in exchange for those goods or services.

(i)Pharmaceutical segment

The Group's contracts with customers relate to a variety of solutions provided to the Group's pharmaceutical partners in order to accelerate their development of treatments for rare diseases, including early patient recruitment and identification, epidemiological insights, biomarker discovery and patient monitoring. The collaboration agreements are structured on a fee per analysis basis, milestone basis, fixed fee basis, or a combination of these. In addition, some of the Group's contracts with its pharmaceutical partners also include sales of CentoCard filter cards for the collection of biological samples from patients.

The performance obligations in Pharmaceutical segment can either be satisfied over time, as the services are performed, or at a point in time depending on the structure of the collaborations, which are determined based on nature of the service provided, as detailed below.

Revenue from early patient recruitment and identification, epidemiological insights, biomarker discovery and patient monitoring is based on fee per analysis, milestone fees and fixed fees. The revenues from these solutions are recognized over time using an input method based on the work rendered in order to measure progress towards complete satisfaction of the services.

Revenue from the licensing of intellectual property for an unlimited period, usually in the structure of an upfront fee, is recognized at a point in time, when the right (or license) to use intellectual property is conveyed.

Revenues from the licensing of intellectual property for a certain period, being a right to access such intellectual property as defined in IFRS 15, is recognized over time over the licensing period.

Revenue from the sale of CentoCard filter cards is recognized at a point in time when the control of the CentoCard filter cards has transferred to the customer, which typically occurs on delivery.

(ii)Diagnostics segment

Revenues from the Group's Diagnostic segment are typically generated from genetic sequencing and diagnostics services that the Group provides to clients, who are typically physicians, laboratories or hospitals, either directly or through distributors. Revenues are based on a negotiated price per test or on the basis of agreements to provide certain testing volumes over defined periods. The Group has concluded that the services rendered in the Diagnostic segment comprise one performance obligation.

The performance obligation in the Diagnostics segment is recognized over time, as the services are performed, using an input method to measure progress towards complete satisfaction of the service. In order to measure progress, the Group uses a standardized process which measures progress to completion by stages, consisting of (i) a preparation stage, (ii) a clarification stage, (iii) a sequencing stage, and (iv) an output stage. The percentages attributed to those stages are indicative of the cost incurred in performing the respective stage in relation to total cost.

Contract balances

(i) Contract assets

A contract asset is the right to consideration in exchange for goods or services transferred to the customer. If the Group satisfies a performance obligation by transferring goods or services to a customer before the customer pays consideration or before payment is due, a contract asset is recognized for the earned consideration that is conditional. Contract assets are subject to impairment assessment. Refer to accounting policies of impairment of financial assets in Note 5(o) “Financial instruments”.

(ii) Trade receivables

A receivable represents the Group’s right to an amount of consideration that is unconditional (i.e., only the passage of time is required before payment of the consideration is due). Refer to accounting policies of impairment of financial assets in Note 5(o) “Financial instruments”.

(iii) Contract liabilities

A contract liability is the obligation to transfer goods or services to a customer for which the Group has received consideration or an amount of consideration is due from the customer (whichever is earlier). If a customer pays consideration before the Group transfers goods or services to the customer, a contract liability is recognized when the payment is made or the payment is due (whichever is earlier). Contract liabilities are recognized as revenue when the Group performs under the contract.

Finance income and finance costs

(c)Finance income and finance costs

Interest income and expenses are recognized in the period which they relate to through profit or loss using the effective interest rate method.

Current versus non-current classification

(d)Current versus non-current classification

The Group presents assets and liabilities in the statement of financial position based on current/non-current classification. An asset is current when it is:

Expected to be realized or intended to be sold or consumed in the normal operating cycle

Held primarily for the purpose of trading

Expected to be realized within twelve months after the reporting period; or

Cash or cash equivalent unless restricted from being exchanged or used to settle a liability for at least twelve months after the reporting period

All other assets are classified as non-current.

A liability is current when:

It is expected to be settled in the normal operating cycle

It is held primarily for the purpose of trading

It is due to be settled within twelve months after the reporting period; or

There is no unconditional right to defer the settlement of the liability for at least twelve months after the reporting period

A covenant breach has occurred and not resolved at year end from a loan

The terms of the liability that could, at the option of the counterparty, result in its settlement by the issue of equity instruments do not affect its classification.

The Group classifies all other liabilities as non-current.

Deferred tax assets and liabilities are classified as non-current assets and liabilities.

Intangible assets

(e)Intangible assets

Research and development

Expenses for research activities are recognized through profit or loss in the period in which they are incurred.

Development expenditures on an individual project are recognized as an intangible asset from the date the Group can demonstrate:

the product or process is technically and commercially feasible so that the asset will be available for use or sale

the Group has the ability and intention to use or sell the asset

a future economic benefit is probable

the Group has sufficient resources to complete the development and

the development costs can be measured reliably.

The Group’s research and development activities mainly relate to development of biomarkers where likelihood for future commercialization is probable, constant innovation for the Diagnostic and Pharmaceutical businesses with new or enhanced products, continuous improvement on the bioinformatics pipelines, AI capabilities and Medical Reporting automatization and IT driven solutions. With respect to biomarkers, the development stage is usually considered to be achieved when the target validation process is completed, and commercialization is probable. Regarding the innovation on bioinformatics, main efforts are put on enhancing the automatization of identification of disease-causing variants via variant prioritization and classification to speed up and improve diagnosis. In the realm of IT-driven solutions, there is a growing focus on automating data processing and analytics through cloud-based platforms.

Capitalized development costs are recognized at cost less accumulated amortization and any accumulated impairment losses. They are only amortized from the date the asset is ready for its intended use, which in the case of biomarkers is normally at the time the patent application for such biomarker is made. Amortization expense is recorded in cost of sales and research and development expenses.

Capitalized development costs which are still under development are tested for impairment annually and when circumstances indicate that the carrying value may be impaired.

Other intangible assets

Other intangible assets purchased by the Group with finite useful lives are recognized at cost less accumulated amortization and any accumulated impairment losses. Subsequent expenditure is only capitalized if it increases the future economic benefits of the respective asset.

Intangible assets are amortized over their estimated useful life using the straight-line method and assessed for impairment whenever there is an indication that the intangible asset may be impaired.

The estimated useful lives are as follows:

Internally generated/acquired biomarkers: 7 years

Internally developed database: 5-7 years

Purchase rights, licenses and software: 3-7 years

The useful lives and depreciation methods are reviewed annually to ensure that the methods and periods of depreciation are consistent with the expected economic benefit from the asset.

Property, plant and equipment

(f)Property, plant and equipment

Property, plant and equipment are carried at cost less any accumulated depreciation and any accumulated impairment losses.

The cost of property, plant and equipment comprises its purchase price including customs duties and non-refundable acquisition taxes, and proportionate VAT not deductible from input tax as well as any directly attributable costs of bringing the asset to its working condition and location for its intended use.

Subsequent expenditure is only capitalized if it is probable that the future economic benefits associated with the expenditure will flow to the Group.

Depreciation is calculated over the estimated useful life using the straight-line method. The Group has assessed that none of its property, plant and equipment has a residual value. The estimated useful lives of significant property, plant and equipment are as follows:

Buildings: 12 years

Plant and other equipment, furniture and fixtures: 2-15 years

An item of property, plant and equipment is derecognized upon disposal or when no future economic benefits are expected from its use or disposal. Any gain or loss arising on derecognition of the asset (calculated as the difference between the net disposal proceeds and the carrying amount of the asset) is included in the statement of comprehensive loss when the asset is derecognized.

The depreciation methods, useful lives and residual values are reviewed, and adjusted prospectively if appropriate, as of each reporting date.

Assets under construction are reported at cost and are allocated to property, plant and equipment until they are completed and put into operational use, from which point onwards they are depreciated.

Leases

(g)Leases

Group as a lessee

The Group applies a single recognition and measurement approach for all leases, except for short-term leases and leases of low-value assets. The Group recognizes lease liabilities to make lease payments and right-of-use assets representing the right to use the underlying assets.

(i)Right-of-use assets

The Group recognizes right-of-use assets at the commencement date of the lease (i.e., the date the underlying asset is available for use). Right-of-use assets are measured at cost, less any accumulated depreciation and impairment losses, and adjusted for any remeasurement of lease liabilities. The cost of right-of-use assets includes the amount of lease liabilities recognized, initial direct costs incurred, and lease payments made at or before the commencement date less any lease incentives received. Unless the Group is reasonably certain to obtain ownership of the leased asset at the end of the lease term, the recognized right-of-use assets are depreciated on a straight-line basis over the shorter of its lease term and the estimated useful lives, as follows:

Buildings: 33 years

Offices: 4 – 12 years and

Plant and other equipment, furniture and fixtures: 2-15 years

If ownership of the leased asset transfers to the Group at the end of the lease term or the cost reflects the exercise of a purchase option, depreciation is calculated using the estimated useful life of the asset.

The right-of-use assets are also subject to impairment. Refer to accounting policies of impairment of financial assets in Note 5(o) “Financial instruments”.

(ii)Lease liabilities

At the commencement date of the lease, the Group recognizes lease liabilities measured at the present value of lease payments to be made over the lease term. The lease payments include fixed payments (including in-substance fixed payments) less any lease incentives receivable, variable lease payments that depend on an index or a rate, and amounts expected to be paid under residual value guarantees. The lease payments also include the exercise price of a purchase option reasonably certain to be exercised by the Group and payments of penalties for leases reasonably certain to be terminated. The variable lease payments that do not depend on an index or a rate are recognized as expenses in the period during which the event or condition that triggers the payment occurs.

In calculating the present value of lease payments, the Group uses the incremental borrowing rate at the lease commencement date if the interest rate implicit in the lease is not readily determinable. After the commencement date, the amount of lease liabilities is increased to reflect the accretion of interest and reduced for the lease payments made. In addition, the carrying amount of lease liabilities is remeasured if there is a modification, a change in the lease term, a change in the in-substance fixed lease payments or a change in the assessment to purchase the underlying asset.

(iii)Short-term leases and leases of low-value assets

The Group applies the short-term lease recognition exemption to its short-term leases of machinery and equipment (i.e., those leases that have a lease term of 12 months or less from the commencement date and do not contain a purchase option). It also applies the lease of low-value assets recognition exemption to leases of office equipment that are considered of low value (i.e., below EUR 5k). Lease payments on short-term leases and leases of low-value assets are recognized as expenses on a straight-line basis over the lease term.

(iv)Sale and leaseback transactions

The Group applies IFRS 15 for determining if the transfer of an asset to the buyer (lessor) is to be accounted for as a sale of assets. After the sale of assets is concluded, the Group measures the right-of-use assets arising from the leaseback at the proportion of the previous carrying value of the asset that relates to the right of use retained by the Group. Accordingly, the Group recognizes only the amount of any gain or loss that relates to the rights transferred to the buyer (lessor).

If the fair value of the consideration for the sale of an asset does not equal the fair value of the asset, or if the payments for the leases are not at market rates, the Group makes the following adjustments to measure the sale proceeds at fair value:

●

any below-market terms shall be accounted for as a prepayment of lease payments

●

any above-market terms shall be accounted for as additional financing provided by the buyer-lessor to the seller-lessee.

Investments in associates and joint arrangements

(h)Investments in associates and joint arrangements

The Group assesses whether it has significant influence not only on the basis of its ownership percentage but also on the existence of qualitative factors such as representation on the board of directors of the investee, its participation in decision-making processes, interchange of managerial personnel and access to technical information. The Group assesses rights and obligations agreed to by the parties to a joint arrangement and, when relevant, other facts and circumstances in order to determine whether the joint arrangement in which it is involved is a joint venture or a joint operation. Management assessed the JV agreement mentioned in Note 1 can be determined as a joint venture based on the analysis over the different factors under the applicable standard (as voting rights, percentage of ownership, board reserves matter and resolutions), and concluded this should be accounted under equity method and therefore recognized at cost at the date of acquisition and subsequently adjusted for the Company’s share in undistributed earnings or losses since acquisition, less any impairment incurred. Losses are presented in the consolidated statement of comprehensive loss in losses from investment accounted for by equity method.

Whenever there is an indication of impairment related to investments accounted for under the equity method, the Company performs an impairment test based, amongst others, on an estimate of its share in the present value of the projected future cash flows expected to be generated by operations of associates and joint ventures and, similarly to impairment testing of tangible and intangible assets, including goodwill, the estimates, judgments and assumptions applied for the value in use calculations relate primarily to growth rates, expected changes to average selling prices, shipments and direct costs. Assumptions for average selling prices and shipments are based on historical experience and expectations of future changes in the market.

Gains and losses resulting from transactions involving assets that do not constitute a business, between the Company and its associate or joint venture are recognized in the Company’s financial statements only to the extent of unrelated investors’ interests in the associate or joint venture.

Impairment of Non-current assets

(i) Impairment of Non-current assets

Non-current assets, including tangible, intangible assets and investments in associates and joint ventures, are assessed at each reporting date for indicators of impairment. Whenever such indicators exist, or in the case of assets which are subject to an annual impairment test, the recoverable amount is estimated. An asset’s recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future post-tax cash flows deriving from the use of the asset or its cash generating unit, as applicable, are discounted to their present value using a post-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset, provided that the result obtained is the same that would be obtained by discounting pre-tax cash flows at a pre-tax discount rate.

If the recoverable amount of an asset is less than its carrying amount, the carrying amount of the asset is reduced to its recoverable amount, and an impairment loss is recognized as an expense under “Impairment losses” in the consolidated income statement.

The Group bases the calculation of impairment on the approved business plans of the various cash generating units to which the assets are allocated. The projected cash flows, based on the approved strategic business plans, cover a period of five years. Starting with the sixth year, an expected constant growth rate is applied.

Inventories

(j)Inventories

Inventories are measured at the lower of cost and net realizable value. Inventories are recognized at cost based on the first in first out (FIFO) method.

Net realizable value is the estimated selling price in the ordinary course of business, less estimated costs of completion and the estimated costs necessary to make the sale.

Government grants

(k)Government grants

Government grants are recognized where there is reasonable assurance that the grant will be received and all attached conditions will be complied with. Grants that are intended to compensate the Group for expenses incurred are recognized through profit or loss in the period in which expenses are submitted and claimed.

Government grants which relate to an asset are initially recognized as deferred income at nominal amounts. They are subsequently released to profit or loss on a systematic basis over the expected useful life of the related asset.

The release of deferred income related to either type of grant is presented as other operating income (see Note 8.1).

Share-based payments

(l)Share-based payments

Plan recipients (including senior executives and certain member of the Supervisory Board) of the Group receive remuneration in the form of share-based payments, whereby the recipients render services as consideration for equity instruments (equity-settled transactions) or settled in cash (cash-settled transactions). The Company has only equity-settled awards granted which were vesting in the fiscal periods 2021-2023.

Equity settled transactions

The cost of equity-settled transactions is determined by the fair value of the granted options or the granted Restricted Units (“RSU”) or Stock Grants (“SGA”) when the grant is made, using a Black-Scholes or Monte Carlo simulation model or share price on the grant date, with further details given in Note 23.

The cost is recognized in employee benefits expense (see Note 8.4) or other relevant expenses, together with a corresponding increase in equity (capital reserves), over the period in which the service conditions are fulfilled (the vesting period). The cumulative expense recognized for equity-settled transactions at each reporting date until the vesting date reflects the extent to which the vesting period has expired and the Group’s best estimate of the number of equity instruments that will ultimately vest. The expense or credit in profit or loss for a period represents the movement in cumulative expense recognized as at the beginning and end of that period.

Service and non-market performance conditions are not taken into account when determining the grant date fair value of awards, but the likelihood of the conditions being met is assessed as part of the Group’s best estimate of the number of equity instruments that will ultimately vest. Market performance conditions are reflected within the grant date fair value. Any other conditions attached to an award, but without an associated service requirement, are considered to be non-vesting conditions. Non-vesting conditions are reflected in the fair value of an award and lead to an immediate expensing of an award unless there are also service and/or performance conditions.

No expense is recognized for awards that do not ultimately vest because non-market performance and/or service conditions have not been met. Where awards include a market or non-vesting condition, the transactions are treated as vested irrespective of whether the market or non-vesting condition is satisfied, provided that all other performance and/or service conditions are satisfied.

Provisions, contingent assets and contingent liabilities

(m)Provisions, contingent assets and contingent liabilities

A provision is recognized when the Group has a present obligation (legal, contractual or constructive) as a result of a past event, it is probable that an outflow of resources embodying economic benefits will be required to settle the obligation and a reliable estimate can be made of the amount of the obligation. When the Group expects some or all of a provision to be reimbursed, for example, under an insurance contract, the reimbursement misrecognized as a separate asset, but only when the reimbursement is virtually certain. The expense relating to a provision is presented in the profit or loss net of any reimbursement. Provisions are reviewed at each reporting date and adjusted to reflect the current best estimate.

If the requirements for recognizing a provision are not satisfied, the corresponding obligations are recorded as contingent liabilities unless the possibility of an outflow of resources embodying economic benefits is remote.

A contingent asset is a possible asset that arises from past events and whose existence will be confirmed only by the occurrence or non-occurrence of one or more uncertain future events not wholly within the control of the Group. The Group does not recognize a contingent asset. Contingent assets are disclosed in the notes if the inflow of economic benefits is probable, but not virtually certain. When the inflow of economic benefits becomes virtually certain, the asset is no longer contingent and its recognition is appropriate.

Income taxes

(n)Income taxes

Tax expense comprises current and deferred taxes. Current taxes and deferred taxes are recognized through profit or loss apart from deferred taxes related to items recognized outside profit or loss, in which case it is recognized in correlation to the underlying transaction either directly in equity or in other comprehensive income.

Current income tax assets and liabilities are measured at the amount expected to be recovered from or paid to the taxation authorities. The tax rates and tax laws used to compute the amount are those that are enacted or substantively enacted at the reporting date in the countries where the Group operates and generates taxable income.

Deferred taxes are set up for temporary differences between the carrying amounts of assets and liabilities for group financial reporting purposes at the reporting date and the amounts used for tax purposes. Deferred tax liabilities are recognized for all taxable temporary differences, except:

temporary differences arising from the initial recognition of assets or liabilities in the course of a business transaction that is not a business combination and does not affect either the accounting profit or the taxable profit or loss

temporary differences associated with investments in subsidiaries if the Group controls the timing of the reversal of the temporary differences, and it is probable that the differences will not reverse in the foreseeable future.

The carrying amount of deferred tax assets is reviewed at each reporting date and reduced to the extent that it is no longer probable that sufficient taxable profit will be available to allow all or part of the deferred tax asset to be utilized. Unrecognized deferred tax assets are re-assessed at each reporting date and are recognized to the extent that it has become probable that future taxable profits will allow the deferred tax asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the year when the asset is realized or the liability is settled, based on tax rates that have been enacted or substantively enacted at the reporting date.

Deferred tax assets and deferred tax liabilities are offset against each other if certain conditions are met.

Financial instruments

(o)Financial instruments

(i) Financial assets

The Group’s financial assets principally consist of those accounted for as receivables, contract assets, financial assets at fair value through profit or loss and cash and cash equivalents.

Receivables and contract assets

Receivables, including contract assets, are non-derivative financial assets with fixed or determinable payments that are not quoted in an active market. Contract assets and trade receivables that do not contain a significant financing component or for which the Group has applied the practical expedient are measured at the transaction price determined under IFRS 15. Refer to the accounting policies in note 5(b) “Revenues from contracts with customers”.

After initial recognition, receivables and contract assets are subsequently carried at amortized cost using the effective interest rate method less any impairment losses. Gains and losses are recognized in the profit or loss for the period when the assets are derecognized or impaired.

Financial assets at fair value through profit or loss

Financial assets at fair value through profit or loss are carried in the statement of financial position at fair value with net changes in fair value recognized in the statement of profit or loss.

A derivative embedded in a hybrid contract, with a financial liability or non-financial host, is separated from the host and accounted for as a separate derivative if: the economic characteristics and risks are not closely related to the host; a separate instrument with the same terms as the embedded derivative would meet the definition of a derivative; and the hybrid contract is not measured at fair value through profit or loss. Embedded derivatives are measured at fair value with changes in fair value recognized in profit or loss. Reassessment only occurs if there is either a change in the terms of the contract that significantly modifies the cash flows that would otherwise be required or a reclassification of a financial asset out of the fair value through profit or loss category.

Derecognition

A financial asset or a part of a financial asset is derecognized when the Group no longer has the contractual rights to the asset or the right to receive cash flows from the asset have expired.

Impairment

The Group recognizes an allowance for expected credit losses (ECLs). ECLs are based on the difference between the contractual cash flows due in accordance with the contract and all the cash flows that the Group expects to receive, discounted at an approximation of the original effective interest rate.

The Group applies a simplified approach in calculating ECLs. Therefore, the Group does not track changes in credit risk, but instead recognizes a loss allowance based on lifetime ECLs at each reporting date. The Group has established a provision matrix that is based on its historical credit loss experience, adjusted for forward-looking factors specific to the debtors and the economic environment.

The Group considers a financial asset in default when contractual payments are 360 days past due. However, in certain cases, the Group may also consider a financial asset to be in default when internal or external information indicates that the Group is unlikely to receive the outstanding contractual amounts in full before taking into account any credit enhancements held by the Group. A financial asset is written off when there is no reasonable expectation of recovering the contractual cash flows.

Further disclosures relating to impairment of trade receivables, including contract assets, are in Note 23.

(ii) Financial liabilities

All financial liabilities are recognized initially at fair value and, in the case of loans and borrowings and payables, net of directly attributable transaction costs.

The Group’s financial liabilities include trade and other payables, loans and borrowings including bank overdrafts and derivative financial instruments, including warrant liabilities.

Loans and borrowings

Loans and borrowings are initially recognized at fair value and subsequently measured at amortized cost using the effective interest rate method, taking into account any principal repayments and any discount or premium on acquisition and including transaction costs and fees that are an integral part of the effective interest rate.

Gains or losses are recognized through profit or loss at the time the liabilities are derecognized or disposed of.

Financial liabilities at fair value through profit or loss

Financial liabilities at fair value through profit or loss include financial liabilities designated upon initial recognition as at fair value through profit or loss. Financial liabilities are classified as held for trading if they are incurred for the purpose of repurchasing in the near term. This category also includes derivative financial instruments entered into by the Group that are not designated as hedging instruments in hedge relationships as defined by IFRS 9. Separated embedded derivatives are also classified as held for trading unless they are designated as effective hedging instruments. Gains or losses on liabilities held for trading are recognized in the statement of profit or loss. Financial liabilities designated upon initial recognition at fair value through profit or loss are designated at the initial date of recognition, and only if the criteria in IFRS 9 are satisfied.

Warrant liabilities

Warrants are classified as equity to the extent that they confer the right to purchase a fixed number of shares for a fixed exercise price. In the event that the exercise price or the numbers of shares to be issued are not deemed to be fixed, the warrants are classified as a non-current derivative financial liability. Since the exercise price of the warrants is determined in US dollars which is different from the Company’s functional currency, warrants are classified as liabilities. This liability is initially recognized at its fair value on the date the contract is entered into and subsequently accounted for at fair value through profit and loss (FVTPL) at each reporting date. As the warrants are classified as financial liabilities at FVTPL, the transaction costs are expensed in the consolidated statements of comprehensive loss.

Derecognition

A financial liability is derecognized when the obligation underlying the liability is discharged, canceled or expires.

When an existing financial liability is replaced by another from the same lender on substantially different terms, or the terms of an existing liability are substantially modified, such an exchange or modification is treated as the derecognition of the original liability and the recognition of a new liability. The difference in the respective carrying amounts is recognized through profit or loss.

Cash and cash equivalents

(p) Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and bank balances, including short-term, highly liquid investments that can be quickly converted into cash amounts. These have original maturities of three months or less and are subject to a low risk of fluctuation in value.

Discontinued operations

(q) Discontinued operations

A discontinued operation is a component of an entity that either has been disposed of, or that is classified as held for sale. It must either (i) represent a major separate line of business or geographical area of operations; (ii) be part of a single coordinated disposal plan; or (iii) be a subsidiary acquired exclusively with a view to resale. A component also qualifies for presentation as a discontinued operation when activities are ultimately ended (abandoned). Non-current assets and disposal groups are not classified as assets held for sale if their carrying amount is to be recovered through continuing use.

In 2021, the Group decided to end its COVID-19 business activities, effective Q1 2022. The Group assessed that ending the activities of this operating segment would qualify as a discontinued operation. Therefore, the profit or loss related to the COVID-19 business was presented in a separate line item of the profit and loss section of the consolidated statements of comprehensive loss for the years ended December 31, 2022 and 2021. Since the operations were discontinued through winding-down of the COVID-19 business, no assets or liabilities were required to be disclosed separately on the statements of financial position. The segment reporting note and notes to the consolidated financial statements for the years ended December 31, 2023, 2022 and 2021, only represent continuing operations. For further details on the discontinued operations refer to Note 9 – Discontinued operations.

Cash and short-term deposits (Details) - EUR (€) € in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Borrowings
Cash and cash equivalents	€ 19,099	€ 35,951	€ 17,818	€ 48,156
Secured bank loan
Borrowings
Short term deposits pledged as security	425	443
Existing Overdraft facility
Borrowings
Short term deposits pledged as security	0	2,500
Maximum borrowing capacity	500
Second Overdraft facility
Borrowings
Short term deposits pledged as security	€ 500	€ 1,000

Significant accounting policies

12 Months Ended

Dec. 31, 2023

Significant accounting policies

Significant accounting policies

5 Significant accounting policies

The Group applied the following accounting policies consistently for all of the periods presented in these consolidated financial statements.

(a)Foreign currency and currency translation

Transactions in foreign currency are translated into the respective entity’s functional currency at the spot rate prevailing on the date of the transaction.

The exchange rates used are presented in the following table:


	Average rate			Closing rate
				Dec 31,	Dec 31,	Dec 31,
	2023	2022	2021	2023	2022	2021
USD (EUR 1)	1.09	1.05	1.13	1.11	1.07	1.13
AED (EUR 1)	4.00	3.87	4.15	4.06	3.94	4.17
INR (EUR 1)	89.30	82.69	85.18	91.98	88.17	84.23
CHF (EUR 1)	0.94	1.00	1.08	0.93	0.98	1.03
SAR (EUR 1)	4.13	—	—	4.14	—	—
RSD (EUR 1)	116.91	117.46	117.39	116.91	117.33	117.27

(b)Revenues from contracts with customers

(i)Pharmaceutical segment

Revenues from the licensing of intellectual property for a certain period, being a right to access such intellectual property as defined in IFRS 15, is recognized over time over the licensing period.

Revenue from the sale of CentoCard filter cards is recognized at a point in time when the control of the CentoCard filter cards has transferred to the customer, which typically occurs on delivery.

(ii)Diagnostics segment

Contract balances

(i) Contract assets

(ii) Trade receivables

(iii) Contract liabilities

(c)Finance income and finance costs

Interest income and expenses are recognized in the period which they relate to through profit or loss using the effective interest rate method.

(d)Current versus non-current classification

The Group presents assets and liabilities in the statement of financial position based on current/non-current classification. An asset is current when it is:

Expected to be realized or intended to be sold or consumed in the normal operating cycle

Held primarily for the purpose of trading

Expected to be realized within twelve months after the reporting period; or

Cash or cash equivalent unless restricted from being exchanged or used to settle a liability for at least twelve months after the reporting period

All other assets are classified as non-current.

A liability is current when:

It is expected to be settled in the normal operating cycle

It is held primarily for the purpose of trading

It is due to be settled within twelve months after the reporting period; or

There is no unconditional right to defer the settlement of the liability for at least twelve months after the reporting period

A covenant breach has occurred and not resolved at year end from a loan

The terms of the liability that could, at the option of the counterparty, result in its settlement by the issue of equity instruments do not affect its classification.

The Group classifies all other liabilities as non-current.

Deferred tax assets and liabilities are classified as non-current assets and liabilities.

(e)Intangible assets

Research and development

Expenses for research activities are recognized through profit or loss in the period in which they are incurred.

Development expenditures on an individual project are recognized as an intangible asset from the date the Group can demonstrate:

the product or process is technically and commercially feasible so that the asset will be available for use or sale

the Group has the ability and intention to use or sell the asset

a future economic benefit is probable

the Group has sufficient resources to complete the development and

the development costs can be measured reliably.

Capitalized development costs which are still under development are tested for impairment annually and when circumstances indicate that the carrying value may be impaired.

Other intangible assets

Intangible assets are amortized over their estimated useful life using the straight-line method and assessed for impairment whenever there is an indication that the intangible asset may be impaired.

The estimated useful lives are as follows:

Internally generated/acquired biomarkers: 7 years

Internally developed database: 5-7 years

Purchase rights, licenses and software: 3-7 years

The useful lives and depreciation methods are reviewed annually to ensure that the methods and periods of depreciation are consistent with the expected economic benefit from the asset.

(f)Property, plant and equipment

Property, plant and equipment are carried at cost less any accumulated depreciation and any accumulated impairment losses.

Subsequent expenditure is only capitalized if it is probable that the future economic benefits associated with the expenditure will flow to the Group.

Buildings: 12 years

Plant and other equipment, furniture and fixtures: 2-15 years

The depreciation methods, useful lives and residual values are reviewed, and adjusted prospectively if appropriate, as of each reporting date.

Assets under construction are reported at cost and are allocated to property, plant and equipment until they are completed and put into operational use, from which point onwards they are depreciated.

(g)Leases

Group as a lessee

(i)Right-of-use assets

Buildings: 33 years

Offices: 4 – 12 years and

Plant and other equipment, furniture and fixtures: 2-15 years

The right-of-use assets are also subject to impairment. Refer to accounting policies of impairment of financial assets in Note 5(o) “Financial instruments”.

(ii)Lease liabilities

(iii)Short-term leases and leases of low-value assets

(iv)Sale and leaseback transactions

●

any below-market terms shall be accounted for as a prepayment of lease payments

●

any above-market terms shall be accounted for as additional financing provided by the buyer-lessor to the seller-lessee.

(h)Investments in associates and joint arrangements

(i) Impairment of Non-current assets

(j)Inventories

Inventories are measured at the lower of cost and net realizable value. Inventories are recognized at cost based on the first in first out (FIFO) method.

Net realizable value is the estimated selling price in the ordinary course of business, less estimated costs of completion and the estimated costs necessary to make the sale.

(k)Government grants

The release of deferred income related to either type of grant is presented as other operating income (see Note 8.1).

(l)Share-based payments

Equity settled transactions

(m)Provisions, contingent assets and contingent liabilities

(n)Income taxes

Deferred tax assets and deferred tax liabilities are offset against each other if certain conditions are met.

(o)Financial instruments

(i) Financial assets

The Group’s financial assets principally consist of those accounted for as receivables, contract assets, financial assets at fair value through profit or loss and cash and cash equivalents.

Receivables and contract assets

Financial assets at fair value through profit or loss

Financial assets at fair value through profit or loss are carried in the statement of financial position at fair value with net changes in fair value recognized in the statement of profit or loss.

Derecognition

A financial asset or a part of a financial asset is derecognized when the Group no longer has the contractual rights to the asset or the right to receive cash flows from the asset have expired.

Impairment

Further disclosures relating to impairment of trade receivables, including contract assets, are in Note 23.

(ii) Financial liabilities

All financial liabilities are recognized initially at fair value and, in the case of loans and borrowings and payables, net of directly attributable transaction costs.

The Group’s financial liabilities include trade and other payables, loans and borrowings including bank overdrafts and derivative financial instruments, including warrant liabilities.

Loans and borrowings

Gains or losses are recognized through profit or loss at the time the liabilities are derecognized or disposed of.

Financial liabilities at fair value through profit or loss

Warrant liabilities

Derecognition

A financial liability is derecognized when the obligation underlying the liability is discharged, canceled or expires.

(p) Cash and cash equivalents

(q) Discontinued operations

Commitments (Details) - EUR (€) € in Thousands	12 Months Ended
Commitments (Details) - EUR (€) € in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Lease commitments
Total payment obligation	€ 3,214	€ 6,670	€ 6,620
Rostock headquarters building \| Not later than one year
Lease commitments
Future lease payments to be made	105	0	107
Rostock headquarters building \| 1 - 5 years
Lease commitments
Future lease payments to be made	1,272	1,272	2,370
Rostock headquarters building \| More than five years
Lease commitments
Future lease payments to be made	318	318	4,219
Office equipment and storage spaces \| Not later than one year
Lease commitments
Future lease payments to be made	105	59	44
Office equipment and storage spaces \| 1 - 5 years
Lease commitments
Future lease payments to be made	€ 4	€ 25	€ 49

Income taxes (Tables)

12 Months Ended

Dec. 31, 2023

Income taxes

Schedule of tax recognized through profit or loss


in EUR k	2023	2022	2021
Current tax expenses	85	(152)	(72)
Current year	(41)	(144)	(56)
Adjustments for prior periods	126	(8)	(16)
Deferred tax (expense)/income	(372)	45	142
Temporary differences	(372)	45	142
Tax losses	—	—	—
Total income tax (expenses)/benefit	(287)	(107)	70

Schedule of reconciliation of the effective tax rate to the statutory rate


in EUR k	2023	2022	2021
Loss before tax	(35,245)	(38,596)	(57,532)
Taxes on the basis of the Company’s domestic tax rate	11,314	12,390	14,642
Tax rate effect of foreign tax jurisdictions	(843)	78	882
Non‑deductible expenses	(3,530)	(125)	(3,030)
Current year losses for which no deferred tax assets were recognized	(7,088)	(12,472)	(12,211)
Tax income related to prior years	125	(37)	(17)
Other effects	(265)	59	(196)
Income tax (expenses)/ benefit	(287)	(107)	70

Schedule of breakdown of deferred taxes in the statement of financial position


	December 31, 2023		December 31, 2022		December 31, 2021
	Deferred	Deferred	Deferred	Deferred	Deferred	Deferred
in EUR k	tax assets	tax liabilities	tax assets	tax liabilities	tax assets	tax liabilities
Intangible assets	—	(1,084)	—	(2,184)	—	(2,439)
Property, plant and equipment	—	(6)	—	(21)	—	(14)
Right-of-use assets	—	(4,158)	—	(4,186)	—	(4,617)
Measurement of service contracts	158	—	—	(35)	—	(42)
Leasing liabilities	4,082	—	4,168	—	4,563	—
Government grants	915	—	1,679	—	1,693	—
Loan Liability (Oxford)	—	(423)	—	—	—	—
Loan Liability (Convertible)	—	(643)	—	—	—	—
Measurement of Fx-effects unrealized	—	(602)	—	—	—	—
Unused tax losses	1,354	—	544	—	777	—
Sum	6,509	(6,916)	6,391	(6,426)	7,033	(7,112)
Offset	(6,509)	6,509	(6,391)	6,391	(7,033)	7,033
Deferred Taxes	—	(407)	—	(35)	—	(79)

Related parties - Additional information (Details) € / shares in Units, $ / shares in Units, € in Thousands, $ in Millions				12 Months Ended
	Jun. 26, 2023 EUR (€)	Jan. 31, 2022 EUR (€) € / shares shares	Jan. 31, 2022 USD ($) shares	Dec. 31, 2023 EUR (€) shares € / shares	Dec. 31, 2022 EUR (€) € / shares shares	Dec. 31, 2021 EUR (€) Options	Jan. 31, 2022 $ / shares shares
Related parties
Share-based payments				€ 2,158	€ (1,461)	€ 5,471
Number of common shares issued (in shares) \| shares		4,479,088	4,479,088
Share price \| (per share)		€ 3.35					$ 3.73
Number of securities called by warrants \| shares		1,343,727					1,343,727
Exercise price of warrants \| $ / shares							$ 7.72
Warrant Fair Value, Per Share \| € / shares				€ 0.29	€ 0.19
Increase in fair value of warrant liabilities				€ 159	€ (2,574)
Gain on sale of IP to JV	€ 7,549			7,549
Share Based Payment Reversal					3,104
Receivables of related to the exercise of options				0	321
Provision for Doubtful accounts				0	58
Net offering proceeds, after deducting underwriting discounts, commissions and transaction costs		€ 15,000
Value of other equity instruments granted under share based payment arrangement		€ 2,800	$ 3.2
Revenues recognized in profit and loss				236	1,815
Share of (loss) income of investments accounted for by the Equity method	€ 9,436			9,436
COVID Testing Supplies Purchases
Related parties
Payments for services				812	699
2019 Plan \| RSUs
Related parties
RSUs granted \| Options						167,326
Supervisory board members
Related parties
Share-based payments				741	1,446	€ 2,564
Supervisory board members \| Supervisory board activities
Related parties
Payments for services				224	216	€ 688
Key management personnel
Related parties
Receivables of related to the exercise of options				0	0
Key management personnel \| Equity share option 2017 (Equity settled)
Related parties
Pension commitments for members of the management board				€ 0
Key management personnel \| 2019 Plan \| RSUs
Related parties
RSUs granted \| shares				1,495,855
Former CSO
Related parties
Share-based payments				€ 117
Former CEO, Former CFO, Former CIO
Related parties
Share-based payments				1,000
Share Based Payment Reversal					3,104
Dr Bauer GmbH
Related parties
Payable for services				€ 80	€ 0
Common shares
Related parties
Issued shares \| shares					4,998,000

Trade and other receivables and other assets (Tables)

12 Months Ended

Dec. 31, 2023

Trade and other receivables and other assets.

Summary of trade receivables and other assets


in EUR k	Dec 31, 2023	Dec 31, 2022
Non‑current
Other assets—Rental deposits	3,317	2,819
Other assets—Others	108	92
	3,425	2,911
Current
Trade receivables	16,804	13,637
Contract assets	2,611	2,911
Other assets	3,042	5,514
	22,457	22,062
Total non-current and current trade and other receivables and other assets	25,882	24,973

Capital management

12 Months Ended

Dec. 31, 2023

Capital management

Capital management

20 Capital management

The Group's objectives when managing capital are to safeguard the Company's ability to continue as a going concern and finance all necessary sustainable developments, so that it can continue to provide returns for shareholders and benefits for other stakeholders. In particular, care is taken and an optimal capital structure is strived to reduce the cost of capital. With the IPO in

November 2019, follow-on public offering of July 2020, shares and warrant issuance and aggregate debt financing in February 2022, and the closing of the Convertible Loan Agreement on October 2023, the Group is focused on achieving a healthy capital base to increase the confidence of investors and the capital market.

The Group manages its capital structure and makes adjustments in light of changes in economic conditions and the risk characteristics of its activities. To maintain or adjust the capital structure, the Group may adjust the return to shareholders, issue new shares, or pay additional interests to reduce debt.

The Company monitors covenants stated in its loan facility agreements to be compliance with to take early mitigating actions in case the Company breach any of these.

Trade and other receivables and other assets

12 Months Ended

Dec. 31, 2023

Trade and other receivables and other assets.

Trade and other receivables and other assets

17 Trade and other receivables and other assets


in EUR k	Dec 31, 2023	Dec 31, 2022
Non‑current
Other assets—Rental deposits	3,317	2,819
Other assets—Others	108	92
	3,425	2,911
Current
Trade receivables	16,804	13,637
Contract assets	2,611	2,911
Other assets	3,042	5,514
	22,457	22,062
Total non-current and current trade and other receivables and other assets	25,882	24,973

Other non-current assets

The non-current portion of other assets mainly include cash deposit of EUR 3,000k, used to secure a bank guarantee of EUR 3,257k, relating to the leases of Rostock headquarters building, cash deposits of EUR 257k, used to secure a bank guarantee of EUR 257k, relating to the leases of Berlin office and EUR 60k for the leases of certain plant and machineries. It also includes EUR 108k for the cash deposit for the Central Procurement & Supplies Unit of Malta.

Trade receivables

Trade receivables are non-interest bearing and are generally due in 30 to 90 days. In general, portfolio-based expected credit loss allowances are recognized on trade receivables and contract assets (see note 23.2).

Other current assets

Other current assets include VAT receivables of EUR 445k (2022: EUR 2,039k; 2021: EUR 253k), prepaid expenses of EUR 1,595k (2022: EUR 2,620k; 2021: EUR 3,346k), receivables related to exercised share-based payment grants of EUR 69k (2022: EUR 74k; 2021: 116k). Receivables related to COVID-19 bank or credit card transactions are EUR nil in 2023 (2022: EUR nil; 2021: 612k), as well as receivables from grants of EUR 219k (2022: EUR nil; 2021:nil).

Share based payments - 2023 grants to management board and employees (Details) - SGAs	12 Months Ended
	Dec. 31, 2023 shares	Dec. 31, 2022 Options
Number
Granted during the year	908,192
Forfeited during the year	(139,790)
Exercised during the year	0
Outstanding as of December 31	768,402
2019 Plan
Number
Granted during the year	908,192	425,093
Outstanding as of December 31	209,017

Share-based payments - Grants to Management board and employees (Details)		12 Months Ended
	Jan. 01, 2022 tranche $ / shares	Dec. 31, 2023 item Options shares tranche $ / shares	Dec. 31, 2022 Options shares	Dec. 31, 2021 Options shares
Disclosure of terms and conditions of share-based payment arrangement [line items]
Number of other equity instruments exercisable in share-based payment arrangement \| shares		1,343,727	1,343,727	0
SGAs
Disclosure of terms and conditions of share-based payment arrangement [line items]
Granted during the year \| shares		908,192
Number of other equity instruments outstanding in share-based payment arrangement \| shares		768,402
Number of shares forfeited \| shares		139,790
2019 Plan \| RSUs
Disclosure of terms and conditions of share-based payment arrangement [line items]
Granted during the year \| Options				167,326
Exercise price \| $ / shares		$ 1.15
Number of units vested during the period		15,734	300,000
Number of other equity instruments outstanding in share-based payment arrangement \| item		17,676
2019 Plan \| RSUs \| Minimum
Disclosure of terms and conditions of share-based payment arrangement [line items]
Number of tranches \| tranche		3
2019 Plan \| RSUs \| Maximum
Disclosure of terms and conditions of share-based payment arrangement [line items]
Number of tranches \| tranche		4
2019 Plan \| Options.
Disclosure of terms and conditions of share-based payment arrangement [line items]
Number of options granted \| Options				15,000
Number of tranches \| tranche	3
Vesting period	3 years
Trading days	20 days
Exercise price \| $ / shares	$ 12.52
Expiration Date	10 years
Number of share options outstanding in share-based payment arrangement \| Options		15,152
2019 Plan \| SGAs
Disclosure of terms and conditions of share-based payment arrangement [line items]
Granted during the year		908,192	425,093
Number of other equity instruments outstanding in share-based payment arrangement \| shares		209,017
2019 Plan \| SGAs \| Minimum
Disclosure of terms and conditions of share-based payment arrangement [line items]
Number of tranches \| tranche		3
2019 Plan \| SGAs \| Maximum
Disclosure of terms and conditions of share-based payment arrangement [line items]
Number of tranches \| tranche		4

Subsequent Events

12 Months Ended

Dec. 31, 2023

Subsequent Events

Subsequent Events

29 Subsequent Events

A decision had been made regarding the UMCU case against Centogene. Refer to paragraph 28 Contingent Liabilities further details.

On February 27, 2024, we received a notification from Nasdaq’s Listing Department notifying the Company of the determination of Nasdaq to delist the Company’s securities from The Nasdaq Global Market due to non-compliance with the MVPHS requirement, subject to our right to a hearing with the Nasdaq Listing Panel. On March 27, 2024, we also received a deficiency notice with respect to the minimum bid price requirement set forth in Rule 5450(a)(1) of the Nasdaq Listing Rules. On April 30, 2024, we had a hearing regarding the delisting notice and presented a plan of compliance with respect to the MVPHS requirement consisting of the achievement of specific milestones related to our strategic alternative review process; specifically, progress with respect to a definitive binding agreement to sell the Company. We are waiting to receive a decision, which is expected to be delivered at the end of May 2024.

On April 29, 2024, the Company and Evotec SE entered into a second amendment to the collaboration agreement, whereby the Company granted Evotec a non-exclusive license to use Program IP until March 31, 2025, in which Centogene will receive an up-front fee. The Company also granted Evotec an option right until March 31, 2025, to enter into a license agreement acquiring Centogene’s share of the IP generated throughout the collaboration. Should Evotec execute on a global license, Centogene would receive an up-front fee, milestone payments, as well as additional royalties.

On May 12, 2024, the Company and PIC entered into a Second Amendment (the “Second Loan Amendment”) to the Convertible Loan Agreement, dated October 26, 2023, between the Company and PIC (as amended) to, among other provisions, bifurcate the existing conversion feature of the loan such that (i) an aggregate principal amount of USD 15.0 million plus related conversion fees (the “First Amount”), shall convert on the earlier of April 1, 2025 or the date that is ten (10) days following the receipt by the Company and PIC of approval by the Committee on Foreign Investment in the United States (CFIUS) of the issuance of the Company’s common shares upon conversion of the loan (“CFIUS Clearance”); and (ii) the remaining aggregate principal amount of USD 15.0 million plus all accrued and unpaid interest and related conversion fees (the “Second Amount”) shall convert on the second anniversary of the First Conversion. The Second Loan Amendment also adjusted the conversion price of the First Amount from $2.20 to $0.79 per common share (the “First Conversion”). The Second Amount shall continue to convert at the existing conversion price of $2.20 per common share (the “Second Conversion”). The Second Loan Amendment provides that in no event shall the number of Company common shares issued pursuant to any loan conversion pursuant to the Convertible Loan Agreement result in PIC holding in excess of 49% of the outstanding common shares of the Company, and the conversion price applicable to the Second Amount shall be increased to the extent required to ensure compliance with the foregoing.

Receivables Transfer Agreement”), and the accompanying Variation Agreement (the “KSA Receivables Variation Agreement,” and together with the KSA Receivables Transfer Agreement, the “Receivables Agreement”) between the Company, and PIC dated as of May 12, 2024. Pursuant to the Receivables Agreement, PIC agreed to purchase rights to certain of Centogene’s accounts receivable in the KSA (each, a “KSA Receivable”) for an aggregate purchase price of USD 15.0 million (EUR 13.9 million) (the “AR Purchase Price”). The AR Purchase Price is payable by PIC in three similar tranches of USD 5.0 million (each, a “Tranche Payment”), with the first Tranche Payment having been paid on May 13, 2024 and the remaining two Tranche Payments to be paid on or about May 31, 2024 and June 30, 2024 (or, in each case, such other date agreed upon by the parties), subject to the satisfaction by the Company of certain conditions precedent set forth in the Receivables Agreement including achievement of business plan targets.

On May 12, 2024, the Company and PIC entered into a share purchase agreement (the “Share Purchase Agreement”) pursuant to which the Company agreed to sell to PIC 16,000 shares in the capital of Genomics Innovation Company Limited, (the “JV”), representing 16% of the JV’s total outstanding shares, for an aggregate purchase price of SAR 20.0 million (EUR 4.9 million) (the “Share Purchase Consideration”). The Company has retained a 4% equity position in the JV. Under the terms of the Share Purchase Agreement, during the 24-month period following the six-month anniversary of the closing date of the share purchase, the Company shall have an option to purchase a number of shares in the JV equal to 16% of the aggregate number of shares outstanding at the time of exercise of such option (the “Call Option Shares”).

On May 12, 2024, the Company and the JV entered into a variation agreement (the “Consultancy Variation Agreement”) to the Consultancy Agreement (the “Consultancy Agreement”) between the Company and the JV, which was entered into on November 27, 2023, in connection with the formation of the JV. Pursuant to the Consultancy Variation Agreement, the first operational milestone fee payable to the Company under the Consultancy Agreement was reduced from SAR 20.0 million to SAR 10.0 million.

Also, on May 12, 2024, the Company and the JV entered into a variation agreement (the “IP License Variation Agreement”) to the Technology Transfer and Intellectual Property License Agreement (the “IP License Agreement”) between the Company and the JV, which was entered into on November 27, 2023, in connection with the formation of the JV. Pursuant to the IP License Variation Agreement, among other things, certain royalty fees payable to the Company were reduced from 2.5% of the JV’s net revenue to 1% of the JV’s net revenue.

On May 12, 2024, the Company and Oxford entered into a limited waiver, consent and fourth amendment (the “Fourth Amendment”) to the existing Loan and Security Agreement dated January 31, 2022 (as amended from time to time, the “Loan and Security Agreement”). Pursuant to the Fourth Amendment, Oxford (a) consented to permit the Share Purchase Agreement, the Consultancy Variation Agreement, the IP License Variation Agreement, the Second Loan Amendment (together with the previously disclosed amendment to the Convertible Loan Agreement dated April 23, 2024), the KSA Receivables Transfer Agreement (as amended by the KSA Receivables Variation Agreement) and the Registration Rights Amendment and the transactions contemplated by the foregoing and (b) agreed to waive events of default under the Loan and Security Agreement with respect to the Company’s delayed 20-F filing and alleged actions taken by the Company in connection with the negotiation on certain of the mentioned transactions.

Additionally, the Fourth Amendment provides that the Loan and Security Agreement shall be amended to (a) extend the period of time in which the Company has to deliver its audited consolidated financial statements for its fiscal year ended December 31, 2023, (b) remove a delisting of the Company’s common shares from Nasdaq as an event of default and (c) include additional covenants requiring the Company to (i) engage a financial consultancy firm and chief restructuring/transformation officer, and (ii) achieve certain near-term milestones with respect to the Company’s announced pursuit of strategic alternatives.

On May 12, 2024, the Company and Oxford entered into a success fee agreement (the “Success Fee Agreement”). The Success Fee Agreement provides that, upon a trigger event, the Company shall pay Oxford a fee for each term loan advanced by the lenders under the Loan and Security Agreement, which shall be equal to 2% multiplied by the original principal amount of such term loan. The trigger events under the Success Fee Agreement, include, but are not limited to, the Company’s market capitalization exceeding USD 125.0 million for ten consecutive trading days or the Company consummating a change of control transaction or series of related transactions.

On May 12, 2024, the Company and PIC entered into an amendment (the “Registration Rights Amendment”) to the Second Registration Rights Agreement (the “Registration Rights Agreement”) dated October 26, 2023. Pursuant to the Registration Rights

Amendment, the Company shall not be required to file a registration statement usable for the resale or other transfer of the Company’s common shares to be issued upon conversion of the loan pursuant to the Convertible Loan Agreement until the date that is fifteen (15) days following the receipt of CFIUS Clearance (the “Registration Statement Effectiveness Deadline Date”). Additionally, if at the time of receipt of CFIUS Clearance the Company is not required to file reports under Section 13 or Section 15(d) of the Securities Exchange Act of 1934, then the Registration Statement Effectiveness Deadline Date shall be fifteen (15) days following the date on which the Company becomes required to file such reports.

These consolidated financial statements were approved by management on May 15, 2024.

Segment information and revenue from contracts with customers

12 Months Ended

Dec. 31, 2023

Segment information and revenue from contracts with customers

Segment information and revenue from contracts with customers

7 Segment information and revenue from contracts with customers

7.1 Segment information

For management purposes, the Group is organized into business units based on its products and services. In line with the management approach, the operating segments were identified on the basis of the Group’s internal reporting and how the chief operating decision maker (“CODM”) assesses the performance of the business. On this basis, the Group has the following two operating segments, which also represent the Group’s reportable segments:

●

Pharmaceutical segment: This segment provides a variety of solutions to our pharmaceutical partners, including target and drug screening, clinical development, market access and expansion, as well as CENTOGENE Biodatabank Licenses and Insight Reports; and

●

Diagnostic segment: This segment provides genetic sequencing and diagnostics services to our clients, who are typically physicians, laboratories or hospitals, either directly or through distributors.

●

JV segment: As disclosed in Note 1, on June 26, 2023, the Company entered into a joint venture agreement (the “Joint Venture Agreement”), with Pharmaceutical Investment Company (“PIC” or “Lifera”). This segment provides the income from the IP sale and the costs related to setting up the JV (see Note 15 – Investment in Joint Venture).

In 2021, the Group decided to end its COVID-19 business activities in Q1 2022. The Group assessed that ending the activities of this operating segment would qualify as a discontinued operation. Therefore, the profit or loss related to the COVID-19 business is presented in a separate line item of the profit and loss section of the consolidated statements of comprehensive loss for the years ended December 31, 2023, 2022, and 2021 (see Note 9 – Discontinued Operations).

The management board is the CODM and monitors the operating results of the segments separately for the purpose of making decisions about resource allocation and performance assessment. Segment performance is evaluated based on segment results and is measured with reference to the Adjusted EBITDA. Adjusted EBITDA is a financial measure which is not prescribed by IFRS, which the Group defines as income/loss before finance costs (net), taxes, and depreciation and amortization (including impairments), adjusted to exclude corporate expenses, one-off costs as well as share-based payment expenses.

Corporate expenses, interest and similar income and expenses, as well as share-based payment expenses are not allocated to individual segments as the underlying instruments are managed on a group basis. Assets and liabilities are managed on a Group basis and are not allocated to the different segments for internal reporting purposes. Therefore, our CODM does not regularly review this information by segment and accordingly we do not report this information by segment.


	2023
in EUR k	Pharmaceutical	Diagnostics	JV	Corporate	Total
Total Revenues from contracts with external customers	14,802	33,734	—	—	48,536

Adjusted EBITDA	1,589	5,087	4,462	(30,258)	(19,120)

Other segment information
Depreciation and amortization (including impairments)	877	1,338	—	5,395	7,610
Research and development expenses	—	—	—	12,361	12,361
Share of income (loss) of investments accounted for by the equity method	—	—	(302)	—	(302)

Capital Expenditures
Additions to property, plant and equipment and right-of-use assets	18	12	—	1,864	1,894
Additions to intangible assets	182	—	—	2,057	2,239


	2022
in EUR k	Pharmaceutical	Diagnostics	JV	Corporate	Total
Total Revenues from contracts with external customers	16,115	31,358	—	—	47,473

Adjusted EBITDA	6,802	6,438	—	(41,097)	(27,857)

Other segment information
Depreciation and amortization (including impairments)	801	1,790	—	6,340	8,932
Research and development expenses	—	—	—	17,488	17,488
Share of income (loss) of investments accounted for by the equity method	—	—	—	—	—

Capital Expenditures
Additions to property, plant and equipment and right-of-use assets	1,244	910	—	1,225	3,379
Additions to intangible assets	162	14	—	1,551	1,727


	2021
in EUR k	Pharmaceutical	Diagnostics	JV	Corporate	Total
Total Revenues from contracts with external customers	15,641	26,593	—	—	42,234

Adjusted EBITDA	4,785	3,030	—	(45,939)	(38,124)

Other segment information
Depreciation and amortization (including impairments)	2,076	2,539	—	5,849	10,464
Research and development expenses	—	—	—	19,297	19,297
Share of income (loss) of investments accounted for by the equity method	—	—	—	—	—

Capital Expenditures
Additions to property, plant and equipment and right-of-use assets	690	261	—	936	1,887
Additions to intangible assets	2,401	—	—	386	2,787

Adjustments to income/ loss include non-cash charges in relation to depreciation, amortization (including impairments), one-off costs, share-based payments as well as net financial costs and income taxes. Certain costs, and related income, are not allocated to the reporting segment results and represent the residual operating activities of the Group reported as ‘Corporate’. These costs include general financing costs and corporate overheads related to, centralized functions such as communications, information technology, facilities, legal, finance and accounting, insurance (D&O), human resources, business development and strategic initiatives, certain professional and consulting services, procurement, research and development and other supporting activities.

Corporate expenses contain the costs incurred for the process of obtaining the equity and debt financing amounted to EUR nil (2022: EUR 2,161k; 2021: nil). Corporate expenses for the year ended 2022 and 2021 also included expenses incurred in relation to capital raising activities (2022: EUR 450k; 2021: EUR nil).

Reconciliation of segment Adjusted EBITDA to Group loss for the period


in EUR k	2023	2022	2021
Reportable segment Adjusted EBITDA	11,138	13,240	7,815
Corporate expenses	(30,258)	(41,097)	(45,939)
	(19,120)	(27,857)	(38,124)
Share‑based payment expenses (Note 22)	(2,929)	16	(8,035)
Depreciation and amortization (including impairments)	(7,610)	(8,932)	(10,464)
Operating loss	(29,659)	(36,773)	(56,623)
Financial costs, net	(5,284)	(1,823)	(799)
Investments accounted for by the Equity method	(302)	—	—
Income taxes	(287)	(107)	70
Loss for the year	(35,532)	(38,703)	(57,352)

Under share-based payment expenses, the Company has capitalized EUR 202k as transaction cost directly linked to convertible loan agreement signed in October 26, 2023 (Note 21) that were deducted from the Company´s income statement.

Non-current asset locations

Non-current assets of the Group consist of right-of-use assets (under IFRS 16), property, plant and equipment, as well as intangible assets. All of such assets are located in Germany, which is the country of the business address of the Centogene GmbH, except for property, plant and equipment of EUR 14k (2022: EUR 76k; 2021: EUR 147k) and right-of-use assets for EUR nil as of December 31, 2023 (2022: EUR nil; 2021: EUR 137k), which are located in the United States.

7.2 Revenue from contracts with customers


in EUR k	2023
	Pharmaceutical	Diagnostics	Total
Rendering of services	14,318	33,734	48,052
Sales of goods	484	—	484
Total Revenues from contracts with external customers	14,802	33,734	48,536

Recognized over time	14,318	33,734	48,052
Recognized at a point in time	484	—	484
Total Revenues from contracts with external customers	14,802	33,734	48,536

Geographical information
Europe	291	7,438	7,729
—Germany*	—	95	95
—Netherlands**	—	2	2
Middle East	344	20,395	20,739
—Saudi Arabia#	143	13,236	13,379
North America	14,126	748	14,874
—United States#	14,126	708	14,834
Latin America	41	4,265	4,306
Asia Pacific	—	888	888
Total	14,802	33,734	48,536


in EUR k	2022
	Pharmaceutical	Diagnostics	Total
Rendering of services	15,420	31,358	46,778
Sales of goods	695	—	695
Total Revenues from contracts with external customers	16,115	31,358	47,473

Recognized over time	15,420	31,358	46,778
Recognized at a point in time	695	—	695
Total Revenues from contracts with external customers	16,115	31,358	47,473

Geographical information
Europe	361	5,927	6,288
—Germany*	—	307	307
—Netherlands**	—	7	7
Middle East	352	19,549	19,902
—Saudi Arabia#	—	12,412	12,412
North America	15,346	1,245	16,591
—United States#	15,346	1,179	16,525
Latin America	56	3,851	3,907
Asia Pacific	—	786	786
Total	16,115	31,358	47,473


in EUR k	2021
	Pharmaceutical	Diagnostics	Total
Rendering of services	14,879	26,593	41,472
Sales of goods	762	—	762
Total Revenues from contracts with external customers	15,641	26,593	42,234

Recognized over time	14,879	26,593	41,472
Recognized at a point in time	762	—	762
Total Revenues from contracts with external customers	15,641	26,593	42,234

Geographical information
Europe	490	5,425	5,915
—Germany*	—	211	211
—Netherlands**	—	6	6
Middle East	117	16,315	16,432
—Saudi Arabia#	—	9,865	9,865
North America	14,940	1,643	16,583
—United States#	14,940	1,456	16,396
Latin America	94	2,499	2,593
Asia Pacific	—	711	711
Total	15,641	26,593	42,234

* country of the incorporation of Centogene GmbH

** country of the incorporation of Centogene N.V.

# countries contributing more than 10% of the Group's total consolidated revenues for the respective year ended December 31, 2023, 2022 or 2021

The Group collaborated with the majority of our pharmaceutical partners on a worldwide basis in 2023, 2022 and 2021. In addition, in cases where our pharmaceutical partners are developing a new rare disease treatment, it is generally anticipated that the final approved treatment will be made available globally. As a result, we allocate the revenues of our Pharmaceutical segment by geographical region by reference to the location where each pharmaceutical partner mainly operates, which is based on the region from which most of their revenues are generated. The allocation of revenues in our Diagnostic segment is based on the location of each customer.

Pharmaceutical segment

During the year ended December 31, 2023, revenues from one pharmaceutical partner represented 12.6% of the Group’s total revenues (2022: 15.5%; 2021: 24.8%). As of December 31, 2023, the amount of revenues recognized that were included in the contract liability balance at the beginning of the period is EUR 372k (2022: EUR 1,951k; 2021: EUR 3,201k).

During the year ended December 31, 2023, Centogene entered into several collaborations with pharmaceutical partners, of which upfront fees totaling EUR 256k were received (2022: EUR 566k; 2021 EUR 455k) in relation to setup fees which will be recognized as revenue over the period of the partnership collaboration.

Diagnostics segment

During the year ended December 31, 2023, revenues from Diagnostic segment represented 70% of the Group’s total revenues (2022: 66%; 2021: 63%). Revenues from the major diagnostic partner represented 20.0% of the Group’s total revenues.

Contract balances


in EUR k	Dec 31, 2023	Dec 31, 2022

Trade receivables (note 17)	16,804	13,637
Contract assets (note 17)	2,611	2,911
Contract liabilities (note 21.2)	694	651

The contract assets primarily relate to the Group’s rights to consider for work completed but not billed at the reporting date on the tests for the Diagnostic segment, with the satisfaction of the respective performance obligation measured by reference to stages in a standardized process. The contract assets also include work performed for pharmaceutical partners which are based on milestone fees. In 2023, EUR 26k (2022: EUR 10k; 2021: EUR 483k) was recognized as provision for expected credit losses on contract assets (see Note 23.2). The contract assets are transferred to receivables when the rights become unconditional. This usually occurs when the Group issues an invoice to the customer.

The contract liabilities as of December 31, 2023, amount to EUR 694k (2022: EUR 651k; 2021: EUR 2,506k) which relate to the advance consideration, from which EUR 464k relates to pharmaceutical partners for which revenue is recognized over time.

Intangible assets (Details) - EUR (€) € in Thousands	12 Months Ended
Intangible assets (Details) - EUR (€) € in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Intangible assets
Balance, at the beginning of the year	€ 7,400	€ 9,194
Additions	2,239	1,727	€ 2,787
Balance, at the end of the year	6,850	7,400	9,194
Intangible assets	6,850	7,400	9,194
Biomarkers and databases
Intangible assets
Impairment expense	446	158	1,067
Internally generated /acquired \| Biomarkers
Intangible assets
Balance, at the beginning of the year	906	1,545
Balance, at the end of the year	322	906	1,545
Intangible assets	322	906	1,545
Internally generated /acquired \| Database
Intangible assets
Balance, at the beginning of the year	6,066	6,396
Balance, at the end of the year	3,142	6,066	6,396
Intangible assets	3,142	6,066	6,396
Internally generated /acquired \| Centometabolome
Intangible assets
Balance, at the beginning of the year	2,181	2,540
Balance, at the end of the year	1,818	2,181	2,540
Intangible assets	€ 1,818	2,181	2,540
Remaining useful life	5 years
Purchased \| Rights, licenses, software
Intangible assets
Balance, at the beginning of the year	€ 428	1,253
Balance, at the end of the year	3,386	428	1,253
Intangible assets	3,386	428	1,253
Cost
Intangible assets
Balance, at the beginning of the year	32,554	30,827	28,040
Additions	2,239	1,727	2,787
Balance, at the end of the year	34,793	32,554	30,827
Intangible assets	34,793	32,554	30,827
Cost \| Internally generated /acquired \| Biomarkers
Intangible assets
Balance, at the beginning of the year	14,536	14,374	13,922
Additions	182	162	749
Reclassification			(297)
Balance, at the end of the year	14,718	14,536	14,374
Intangible assets	14,718	14,536	14,374
Cost \| Internally generated /acquired \| Database
Intangible assets
Balance, at the beginning of the year	12,683	11,168	9,219
Additions		1,515	1,652
Reclassification			297
Balance, at the end of the year	11,167	12,683	11,168
Intangible assets	11,167	12,683	11,168
Cost \| Purchased \| Rights, licenses, software
Intangible assets
Balance, at the beginning of the year	5,335	5,285	4,899
Additions	2,057	50	386
Balance, at the end of the year	8,908	5,335	5,285
Intangible assets	8,908	5,335	5,285
Accumulated depreciation, amortization and impairment
Intangible assets
Balance, at the beginning of the year	(25,154)	(21,633)	(15,633)
Amortization and impairment	2,789	3,521	6,000
Balance, at the end of the year	(27,943)	(25,154)	(21,633)
Intangible assets	(27,943)	(25,154)	(21,633)
Accumulated depreciation, amortization and impairment \| Internally generated /acquired \| Biomarkers
Intangible assets
Balance, at the beginning of the year	(13,630)	(12,829)	(10,748)
Amortization and impairment	766	801	2,149
Reclassification			(68)
Balance, at the end of the year	(14,396)	(13,630)	(12,829)
Intangible assets	(14,396)	(13,630)	(12,829)
Accumulated depreciation, amortization and impairment \| Internally generated /acquired \| Database
Intangible assets
Balance, at the beginning of the year	(6,617)	(4,772)	(2,713)
Amortization and impairment	1,408	1,845	1,991
Reclassification	(1,516)		68
Balance, at the end of the year	(8,025)	(6,617)	(4,772)
Intangible assets	(8,025)	(6,617)	(4,772)
Accumulated depreciation, amortization and impairment \| Purchased \| Rights, licenses, software
Intangible assets
Balance, at the beginning of the year	(4,907)	(4,032)	(2,172)
Amortization and impairment	615	875	1,860
Reclassification	1,516
Balance, at the end of the year	(5,522)	(4,907)	(4,032)
Intangible assets	€ (5,522)	€ (4,907)	€ (4,032)

Investment in Joint Venture (Tables)

12 Months Ended

Dec. 31, 2023

Investment in Joint Venture

Schedule of statement of financial position and income statement of the JV


Dec 31, 2023	in SAR k	in EUR k

Non‑current assets	40,000	9,946
Current assets	60,000	14,919
Cash and Cash equivalents	60,000	14,919
	100,000	24,865

Equity	93,818	23,328
Non‑current liabilities	—	—
Current liabilities	6,182	1,537
	100,000	24,865


Dec 31, 2023	in SAR k	in EUR k

Operating loss	(6,000)	(1,465)
Loss before tax	(6,000)	(1,465)
Loss for the year	(6,182)	(1,509)
Total comprehensive loss for the year	(6,182)	(1,509)

Schedule of investments accounted for by the Equity method and the share of (loss)/income of these investments


	% Holding	Investments accounted for by the equity method	Share of (loss) income of investments accounted for by the Equity method
in EUR k		Dec 31, 2023	2023

Investment in Joint Venture	20%	2,784	(302)

Total		2,784	(302)

Schedule of the movement in investments accounted for by the equity method


in EUR k		2023
As of January 1		—
Additions		4,973
Disposals		—
Translation differences and other comprehensive income (loss)		—
Loss		(302)
Dividends		—
Transfers and others		(1,887)
As of December 31		2,784

Consolidated statements of cash flows - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Operating activities
Loss before taxes from continuing operations	€ (35,245)	€ (38,596)	€ (57,422)
Income before taxes from discontinued operations		6,875	11,152
Loss before taxes	(35,245)	(31,721)	(46,270)
Adjustments to reconcile earnings to cash flow from operating activities
Amortization (including impairments) and depreciation	7,610	10,378	19,974
Government grant depreciation	(1,265)
Inventory write-off	226		1,795
Interest income	(209)		(3)
Interest expense	8,201	4,909	851
Gain on the disposal of property, plant and equipment	(56)	(754)	(18)
Gain on the sales of IP to Joint Venture	(7,549)
Expected credit loss allowances on trade receivables and contract assets	761		827
Sharebased payment expenses	2,929	(16)	8,035
Tax Expense		(89)
Profit or loss from financial instruments FV adjustments	(263)	(2,574)
Loss from Joint Venture equity method	302
Other noncash items	(34)	(1,430)	(821)
Net foreign exchange differences	(2,438)	963
Interest received	209
Changes in operating assets and liabilities:
Inventories	(870)	2,050	5,741
Trade receivables and contract assets	(3,628)	6,914	4,855
Other assets	1,858		1,828
Trade payables	(689)	(4,935)	(20,484)
Other liabilities	(1,599)	(10,182)	1,952
Thereof cash flow (used in) continuing operating activities	(31,749)	(35,497)	(42,635)
Thereof cash flow from discontinued operating activities		9,009	20,897
Cash flow (used in)/from operating activities	(31,749)	(26,488)	(21,739)
Investing activities
Cash paid for investments in intangible assets	(2,239)	(1,727)	(2,787)
Cash paid for investments in property, plant and equipment	(40)	(367)	(2,915)
Cash paid for investment in Joint Venture	(4,973)
Grants received for investment in property, plant and equipment	0	506	168
Cash received from the disposals of property, plant and equipment	93	855	171
Cash received from sale of IP to Joint Venture	9,436
Interest received			3
Thereof cash flow from/(used) in continuing investing activities	2,277	(1,553)	(2,494)
Thereof cash flow from/(used in) discontinued investing activities		820	(2,866)
Cash flow used in investing activities	2,277	(733)	(5,360)
Financing activities
Cash received from the issuance of shares		12,140
Cash received from issuance of warrants		2,833
Cash paid for acquisition of non-wholly owned subsidiary		(1)
Cash received from loans	25,500	40,568	1,772
Cash repayments of loans	(3,374)		(464)
Cash repayments of lease liabilities	(3,095)	(4,314)	(4,244)
Interest paid	(5,987)	(4,909)	(267)
Thereof net cash flow from/(used in) continuing financing activities	13,044	46,798	(2,403)
Thereof net cash flow used in discontinued financing activities		(481)	(800)
Cash flow from financing activities	13,044	46,317	(3,203)
Changes in cash and cash equivalents	(16,428)	19,096	(30,302)
Cash and cash equivalents at the beginning of the period	35,951	17,818	48,156
Effect of movements in exchange rates on cash held	(424)	(963)	(36)
Cash and cash equivalents at the end of the period	€ 19,099	€ 35,951	€ 17,818

Financial instruments-fair values and risk management - Currency risk (Details) - Currency risk - EUR (€) € in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
USD
Currency risk
Net exposure	€ (1,902)	€ 1,019	€ 210
USD \| Trade receivables
Currency risk
Net exposure	1,283	3,720	2,604
USD \| Trade payables and other liabilities
Currency risk
Net exposure	€ (3,185)	(2,701)	(2,394)
INR
Currency risk
Net exposure		8	4
INR \| Trade receivables
Currency risk
Net exposure		€ 8	8
INR \| Trade payables and other liabilities
Currency risk
Net exposure			€ (4)

Non-controlling interests (Details) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Non-controlling interests
Carrying amount of noncontrolling interests	€ 0
Profit/(loss)	€ (35,532)	€ (31,841)	€ (46,246)
Centogene GmbH, Vienna
Non-controlling interests
Additional percentage ownership in subsidiary acquired	10.00%	10.00%
Net assets/(liabilities)			(528)
Carrying amount of noncontrolling interests			(53)
Profit/(loss)			(6)
Profit/(loss) allocated to noncontrolling interests			(1)
Dr. Bauer Laboratoriums GmbH
Non-controlling interests
Net assets/(liabilities)			245
Revenue			109,015
Profit/(loss)			98
Profit/(loss) allocated to noncontrolling interests			€ 98

- 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
-Name IAS
-Number 7
-IssueDate 2023-01-01
-Paragraph 18
-Subparagraph b
-URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=7&code=ifrs-tx-2023-en-r&anchor=para_18_b&doctype=Standard
-URIDate 2023-03-23

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 1
-IssueDate 2023-01-01
-Paragraph 32
-Subparagraph a
-Clause ii
-URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=1&code=ifrs-tx-2023-en-r&anchor=para_32_a_ii&doctype=Standard
-URIDate 2023-03-23

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 1
-IssueDate 2023-01-01
-Paragraph 24
-Subparagraph b
-URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=1&code=ifrs-tx-2023-en-r&anchor=para_24_b&doctype=Standard
-URIDate 2023-03-23

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 8
-IssueDate 2023-01-01
-Paragraph 28
-Subparagraph b
-URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=8&code=ifrs-tx-2023-en-r&anchor=para_28_b&doctype=Standard
-URIDate 2023-03-23

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 8
-IssueDate 2023-01-01
-Paragraph 23
-URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=8&code=ifrs-tx-2023-en-r&anchor=para_23&doctype=Standard
-URIDate 2023-03-23

Reference 6: http://www.xbrl.org/2003/role/exampleRef
-Name IFRS
-Number 12
-IssueDate 2023-01-01
-Paragraph B10
-Subparagraph b
-URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=12&code=ifrs-tx-2023-en-r&anchor=para_B10_b&doctype=Appendix&subtype=B
-URIDate 2023-03-23

Reference 7: http://www.xbrl.org/2003/role/exampleRef
-Name IFRS
-Number 17
-IssueDate 2023-01-01
-Paragraph 113
-Subparagraph b
-URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=17&code=ifrs-tx-2023-en-r&anchor=para_113_b&doctype=Standard
-URIDate 2023-03-23

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Name IAS
-Number 1
-IssueDate 2023-01-01
-Paragraph 81A
-Subparagraph a
-URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2023-en-r&anchor=para_81A_a&doctype=Standard
-URIDate 2023-03-23

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Name IAS
-Number 1
-IssueDate 2023-01-01
-Paragraph 106
-Subparagraph d
-Clause i
-URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2023-en-r&anchor=para_106_d_i&doctype=Standard
-URIDate 2023-03-23

+ Details

- Definition

The income arising in the course of an entity's ordinary activities. Income is increases in assets, or decreases in liabilities, that result in increases in equity, other than those relating to contributions from holders of equity claims.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 8
-IssueDate 2023-01-01
-Paragraph 28
-Subparagraph a
-URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=8&code=ifrs-tx-2023-en-r&anchor=para_28_a&doctype=Standard
-URIDate 2023-03-23

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 8
-IssueDate 2023-01-01
-Paragraph 23
-Subparagraph a
-URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=8&code=ifrs-tx-2023-en-r&anchor=para_23_a&doctype=Standard
-URIDate 2023-03-23

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 8
-IssueDate 2023-01-01
-Paragraph 32
-URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=8&code=ifrs-tx-2023-en-r&anchor=para_32&doctype=Standard
-URIDate 2023-03-23

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 5
-IssueDate 2023-01-01
-Paragraph 33
-Subparagraph b
-Clause i
-URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=5&code=ifrs-tx-2023-en-r&anchor=para_33_b_i&doctype=Standard
-URIDate 2023-03-23

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 8
-IssueDate 2023-01-01
-Paragraph 33
-Subparagraph a
-URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=8&code=ifrs-tx-2023-en-r&anchor=para_33_a&doctype=Standard
-URIDate 2023-03-23

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 8
-IssueDate 2023-01-01
-Paragraph 34
-URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=8&code=ifrs-tx-2023-en-r&anchor=para_34&doctype=Standard
-URIDate 2023-03-23

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 12
-IssueDate 2023-01-01
-Paragraph B12
-Subparagraph b
-Clause v
-URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=12&code=ifrs-tx-2023-en-r&anchor=para_B12_b_v&doctype=Appendix&subtype=B
-URIDate 2023-03-23

Reference 8: http://www.xbrl.org/2003/role/exampleRef
-Name IFRS
-Number 12
-IssueDate 2023-01-01
-Paragraph B10
-Subparagraph b
-URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=12&code=ifrs-tx-2023-en-r&anchor=para_B10_b&doctype=Appendix&subtype=B
-URIDate 2023-03-23

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Name IAS
-Number 1
-IssueDate 2023-01-01
-Paragraph 82
-Subparagraph a
-URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2023-en-r&anchor=para_82_a&doctype=Standard
-URIDate 2023-03-23

Reference 10: http://www.xbrl.org/2003/role/exampleRef
-Name IAS
-Number 1
-IssueDate 2023-01-01
-Paragraph 103
-URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2023-en-r&anchor=para_103&doctype=Standard
-URIDate 2023-03-23

Reference 11: http://www.xbrl.org/2003/role/exampleRef
-Name IAS
-Number 1
-IssueDate 2023-01-01
-Paragraph 102
-URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2023-en-r&anchor=para_102&doctype=Standard
-URIDate 2023-03-23

+ Details

Income taxes - Deferred Taxes (Details) - EUR (€) € in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income taxes
Deductible temporary differences, for which no deferred tax asset is recognized	€ 3,835
Temporary differences associated with investments for which no deferred tax liability has been recognized	8,230	€ 7,106	€ 5,656
Deferred tax assets	6,509	6,391	7,033
Deferred tax liabilities	(6,916)	(6,426)	(7,112)
Deferred tax assets, Offset	(6,509)	(6,391)	(7,033)
Deferred tax liabilities, Offset	6,509	6,391	7,033
Deferred Taxes	(407)	(35)
Deferred Taxes	(407)	(35)	79
-Germany
Income taxes
Tax losses carryforwards for which no deferred tax assets were recognized	152,782	133,512	85,639
Other countries
Income taxes
Tax losses carryforwards for which no deferred tax assets were recognized	4,513	2,348	1,083
Intangible assets other than goodwill
Income taxes
Deferred tax liabilities	(1,084)	(2,184)	(2,439)
Property Plant And Equipment
Income taxes
Deferred tax liabilities	(6)	(21)	(14)
Right-of-use asset
Income taxes
Deferred tax liabilities	(4,158)	(4,186)	(4,617)
Measurement of service contracts
Income taxes
Deferred tax assets	158
Deferred tax liabilities		(35)	(42)
Lease liabilities
Income taxes
Deferred tax assets	4,082	4,168	4,563
Government grants
Income taxes
Deferred tax assets	915	1,679	1,693
Unused tax losses
Income taxes
Deferred tax assets	1,354	€ 544	€ 777
Loan Liability (Oxford) [member]
Income taxes
Deferred tax liabilities	(423)
Loan Liability (Convertible) [member]
Income taxes
Deferred tax liabilities	(643)
Measurement Of Ex-effects Unrealized (Convertible) [member]
Income taxes
Deferred tax liabilities	€ (602)

Segment information and revenue from contracts with customers - Contract balances (Details) - EUR (€) € in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Segment information and revenue from contracts with customers
Trade receivables (note 16)	€ 16,804	€ 13,637
Contract assets (note 16)	2,611	2,911
Advance consideration included in contract liabilities	694	651	€ 2,506
Contract liabilities (note 20.2)	€ 694	€ 651

Financial instruments-fair values and risk management - Liquidity risk (Details) € / shares in Units, $ / shares in Units, € in Thousands, $ in Millions		12 Months Ended
	Jan. 31, 2022 EUR (€) € / shares shares	Dec. 31, 2023 EUR (€)	Dec. 31, 2022 EUR (€) shares	Dec. 31, 2021 EUR (€)	Dec. 31, 2023 USD ($)	Oct. 31, 2023 EUR (€)	Oct. 31, 2023 USD ($)	Jan. 31, 2022 USD ($) $ / shares	Dec. 31, 2020 EUR (€)
Liquidity risk
Net offering proceeds, after deducting underwriting discounts, commissions and transaction costs	€ 15,000
Number of common shares issued (in shares) \| shares	4,479,088
Share price \| (per share)	€ 3.35							$ 3.73
Principal amount		€ 82,395	€ 57,825
Cash and cash equivalents		19,099	35,951	€ 17,818					€ 48,156
Carrying amount		85,967	66,439	33,791
Total		108,739	86,877	36,844
Reconciliation of liabilities arising from financing activities
Beginning of year		60,122	22,539
Cash flows		13,044	35,113
Additions		10,354	1,384
Changes in maturity		(3,181)	1,086
End of year		80,340	60,122	22,539
Non-current financial liabilities
Reconciliation of liabilities arising from financing activities
Beginning of year		53,176	15,394
Cash flows		(6,771)	36,631
Additions		8,659	65
Changes in maturity		(2,785)	1,086
End of year		52,279	53,176	15,394
Non-current lease liabilities
Reconciliation of liabilities arising from financing activities
Beginning of year		13,125	15,394
Cash flows		(784)	(2,334)
Additions		2,236	65
Changes in maturity		(2,178)
End of year		12,399	13,125	15,394
Current financial liabilities
Reconciliation of liabilities arising from financing activities
Beginning of year		6,946	7,145
Cash flows		19,815	(1,518)
Additions		1,695	1,319
Changes in maturity		(396)
End of year		28,060	6,946	7,145
Non-current portion of secured bank loans
Reconciliation of liabilities arising from financing activities
Beginning of year		40,051
Cash flows		(5,987)	38,965
Additions		6,423
Changes in maturity		(607)	1,086
End of year		39,880	40,051
Current portion of secured bank loans
Reconciliation of liabilities arising from financing activities
Beginning of year		1,261	505
Cash flows			(505)
Additions			1,261
Changes in maturity		(1,261)
End of year			1,261	505
Bank Loans
Reconciliation of liabilities arising from financing activities
Cash flows		25,500
Additions		1,695
Changes in maturity		(1,313)
End of year		25,882
IFRS Bank overdrafts
Reconciliation of liabilities arising from financing activities
Beginning of year		3,374	3,310
Cash flows		(3,374)	64
End of year			3,374	3,310
Current lease liabilities
Reconciliation of liabilities arising from financing activities
Beginning of year		2,311	3,330
Cash flows		(2,311)	(1,077)
Additions			58
Changes in maturity		2,178
End of year		2,178	2,311	3,330
Major ordinary share transactions
Liquidity risk
Net offering proceeds, after deducting underwriting discounts, commissions and transaction costs	€ 15,000
Number of common shares issued (in shares) \| shares	4,479,088
Share price \| $ / shares								$ 3.73
Less than 2 months
Liquidity risk
Total		6,852	10,921	15,370
2 to 12 months
Liquidity risk
Total		35,133	5,781	3,737
1 - 5 years
Liquidity risk
Total		61,303	63,246	8,844
More than five years
Liquidity risk
Total		€ 5,451	6,929	8,893
IFRS Bank overdrafts
Liquidity risk
Carrying amount			3,374	3,310
Total			3,374	3,310
IFRS Bank overdrafts \| Less than 2 months
Liquidity risk
Total			€ 3,374	€ 3,310
IFRS Bank overdrafts \| 2 to 12 months
Liquidity risk
Interest-bearing loans will mature in less than one year (in percent)		35.80%	11.60%	31.70%
Secured bank loans
Liquidity risk
Utilized amount of secured credit lines		€ 0	€ 3,374	€ 3,310
Carrying amount		39,880	41,312	505
Secured bank loans		3,500	3,500	3,500
Total		€ 57,598	€ 59,473	€ 505
Secured bank loans \| Minimum
Liquidity risk
Interest rate on secured credit lines		4.31%	4.31%	3.75%
Secured bank loans \| Maximum
Liquidity risk
Interest rate on secured credit lines		4.75%	4.75%	4.75%
Secured bank loans \| Less than 2 months
Liquidity risk
Total		€ 778	€ 678	€ 105
Secured bank loans \| 2 to 12 months
Liquidity risk
Total		3,969	3,516	400
Secured bank loans \| 1 - 5 years
Liquidity risk
Total		52,851	55,279
Convertible Loan
Liquidity risk
Carrying amount		25,882
Total		28,936
Convertible Loan \| 2 to 12 months
Liquidity risk
Total		28,936
Lease liabilities
Liquidity risk
Carrying amount		14,577	15,436	18,724
Total		16,577	17,713	21,777
Lease liabilities \| Less than 2 months
Liquidity risk
Total		446	552	703
Lease liabilities \| 2 to 12 months
Liquidity risk
Total		2,228	2,265	3,337
Lease liabilities \| 1 - 5 years
Liquidity risk
Total		8,452	7,967	8,844
Lease liabilities \| More than five years
Liquidity risk
Total		5,451	6,929	8,893
Trade payables
Liquidity risk
Carrying amount		5,628	6,317	11,252
Total		5,628	6,317	11,252
Trade payables \| Less than 2 months
Liquidity risk
Total		€ 5,628	€ 6,317	€ 11,252
Common shares
Liquidity risk
Increase (decrease) in number of ordinary shares issued \| shares			4,998,000
Convertible Loan Agreement with Lifera
Liquidity risk
Principal amount					$ 30.0	€ 28,332	$ 30.0
Centogene GmbH, CentoSafe B.V, and Centogene US, LLC [Member] \| Loan facility
Liquidity risk
Principal amount	€ 40,200							$ 45.0

Equity

12 Months Ended

Dec. 31, 2023

Equity.

Equity

Equity and liabilities

19 Equity

Issued capital and capital reserve


in thousands of shares	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Common shares as of Jan 1, fully paid	27,596	22,568	22,118
Issued shares	—	4,998	—
Exercise of options	1,404	30	450
Common shares issued as of Dec 31, fully paid	29,000	27,596	22,568



in thousands of shares	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Authorized common shares of EUR 0.12 each	79,000	79,000	79,000

Common Shares

On January 31, 2022, pursuant to a securities purchase agreement signed with certain investors, the company received EUR 15.0 million as consideration for the issuance of an aggregate of 4,479,088 common shares at a price per share of USD 3.73 (EUR 3.35).

As of December 31, 2023, 29,000,137 common shares of Centogene N.V. with a nominal value of EUR 0.12 were issued and fully paid up (2022: 27,595,835; 2021: 22,567,971). As of December 31, 2023, the authorized, but unissued common share capital amounted to EUR 6,000k (2022: EUR 6,713k; 2021: EUR 6,772k).

The holders of common shares are entitled to the Company's approved dividends and other distributions as may be declared from time to time by the Company, and is entitled to vote per share on all matters to be voted at the Company's annual general meetings.

Capital reserve

As of December 31, 2023, capital reserve included a share premium of EUR 120,847k (2022: EUR 121,018k; 2021: EUR 106,665k), being amounts paid in by shareholders at the issuance of shares in excess of the par value of the shares issued, net of any transaction costs incurred for the share issuance.

On January 31, 2022, pursuant to the securities purchase agreement and a warrant agreement, each signed with certain investors, the Group received EUR 15.0 million in exchange for the issuance of an aggregate of 4,479,088 common shares at a price per share of USD 3.73 (EUR 3.35) and warrants initially exercisable for the purchase of up to an aggregate of 1,343,727 additional common shares at an initial exercise price per common share of USD 7.72. The warrants are exercisable immediately as of the date of issuance and will expire on December 31, 2026. The fair value of warrants issued as of January 31, 2022, was USD 3.2 million (EUR 2.8 million). The amount recognized in capital reserve for the issuance of shares considering EUR 110k of transaction costs, was EUR 14.3 million. EUR 2.8 million for the issuance of warrants was also charged against capital reserve reducing the EUR 14.3 million from the issuance of shares to EUR 11.5 million.

The capital reserve consists of the share premium account and amounts recorded in respect of share-based payments. For additional information on the share-based payments, please refer to note 22.

Inventories

12 Months Ended

Dec. 31, 2023

Inventories

Inventories

16 Inventories


in EUR k	Dec 31, 2023	Dec 31, 2022
Raw materials, consumables and supplies	2,268	1,801
Finished goods and merchandise	195	18
Inventories	2,463	1,819

In the year ended December 31, 2023, raw materials, consumables, and changes in inventories of finished goods recorded as expenses under “cost of sales” came to EUR 12,790k (2022: EUR 19,525k; 2021: EUR 9,467k). During 2023, the Company recognized an expense of EUR 226k (2022: nil) in respect of write downs of inventory.

Property, plant and equipment (Tables)

12 Months Ended

Dec. 31, 2023

Property, plant and equipment

Schedule of development of property, plant and equipment


			Other
			equipment,
			furniture
in EUR k	Buildings	Plant	and fixtures	Total

As of Jan 1, 2021	3,359	14,124	12,590	30,073
Additions	5	144	2,766	2,915
Disposal*	—	(379)	(718)	(1,097)
Transfers from right-of-use assets***	—	1,165	—	1,165
As of Dec 31, 2021	3,364	15,054	14,638	33,056
Additions	—	24	504	528
Disposal**	—	(66)	(3,021)	(3,087)
Currency translation differences	3	11	20	34
Transfers from right-of-use assets***	—	2,628	—	2,628
As of Dec 31, 2022	3,367	17,651	12,141	33,159
Additions	—	—	40	40
Disposal	—	(290)	(61)	(351)
Currency translation differences	(2)	(5)	(12)	(19)
Transfers from right-of-use assets***	—	3,639	—	3,639
As of Dec 31, 2023	3,365	20,995	12,108	36,468


Accumulated depreciation and impairment
As of Jan 1, 2021	586	8,255	4,642	13,483
Depreciation	315	3,268	6,407	9,990
Disposal*	—	(157)	(217)	(374)
Transfers from right-of-use assets***	—	493	—	493
As of Dec 31, 2021	901	11,859	10,832	23,592
Depreciation	241	1,568	2,166	3,975
Disposal**	—	(67)	(2,918)	(2,985)
Currency translation differences	2	12	26	40
Transfers from right-of-use assets***	—	1,729	—	1,729
As of Dec 31, 2022	1,144	15,101	10,106	26,351
Depreciation	235	1,865	778	2,878
Disposal	—	148	(536)	(388)
Currency translation differences	—	(5)	(7)	(12)
Transfers from right-of-use assets***	—	1,996	—	1,996
As of Dec 31, 2023	1,379	19,105	10,341	30,825

Carrying amounts
As of Dec 31, 2021	2,463	3,195	3,806	9,464
As of Dec 31, 2022	2,223	2,550	2,035	6,808
As of Dec 31, 2023	1,986	1,890	1,767	5,643

* The disposal relates to the sale of a CentoTruck as part of a contract with a COVID-19 customer.

** The disposal relates to various obsolete plant and machinery equipment mainly in relation to the ramp down of the COVID-19 business segment.

*** The transfers from right-of-use assets represents assets purchased at the end of the lease.

Segment information and revenue from contracts with customers (Tables)

12 Months Ended

Dec. 31, 2023

Segment information and revenue from contracts with customers

Schedule of reconciliation of segment Adjusted EBITDA to Group net loss from continuing operations


	2023
in EUR k	Pharmaceutical	Diagnostics	JV	Corporate	Total
Total Revenues from contracts with external customers	14,802	33,734	—	—	48,536

Adjusted EBITDA	1,589	5,087	4,462	(30,258)	(19,120)

Other segment information
Depreciation and amortization (including impairments)	877	1,338	—	5,395	7,610
Research and development expenses	—	—	—	12,361	12,361
Share of income (loss) of investments accounted for by the equity method	—	—	(302)	—	(302)

Capital Expenditures
Additions to property, plant and equipment and right-of-use assets	18	12	—	1,864	1,894
Additions to intangible assets	182	—	—	2,057	2,239


	2022
in EUR k	Pharmaceutical	Diagnostics	JV	Corporate	Total
Total Revenues from contracts with external customers	16,115	31,358	—	—	47,473

Adjusted EBITDA	6,802	6,438	—	(41,097)	(27,857)

Other segment information
Depreciation and amortization (including impairments)	801	1,790	—	6,340	8,932
Research and development expenses	—	—	—	17,488	17,488
Share of income (loss) of investments accounted for by the equity method	—	—	—	—	—

Capital Expenditures
Additions to property, plant and equipment and right-of-use assets	1,244	910	—	1,225	3,379
Additions to intangible assets	162	14	—	1,551	1,727


	2021
in EUR k	Pharmaceutical	Diagnostics	JV	Corporate	Total
Total Revenues from contracts with external customers	15,641	26,593	—	—	42,234

Adjusted EBITDA	4,785	3,030	—	(45,939)	(38,124)

Other segment information
Depreciation and amortization (including impairments)	2,076	2,539	—	5,849	10,464
Research and development expenses	—	—	—	19,297	19,297
Share of income (loss) of investments accounted for by the equity method	—	—	—	—	—

Capital Expenditures
Additions to property, plant and equipment and right-of-use assets	690	261	—	936	1,887
Additions to intangible assets	2,401	—	—	386	2,787


in EUR k	2023	2022	2021
Reportable segment Adjusted EBITDA	11,138	13,240	7,815
Corporate expenses	(30,258)	(41,097)	(45,939)
	(19,120)	(27,857)	(38,124)
Share‑based payment expenses (Note 22)	(2,929)	16	(8,035)
Depreciation and amortization (including impairments)	(7,610)	(8,932)	(10,464)
Operating loss	(29,659)	(36,773)	(56,623)
Financial costs, net	(5,284)	(1,823)	(799)
Investments accounted for by the Equity method	(302)	—	—
Income taxes	(287)	(107)	70
Loss for the year	(35,532)	(38,703)	(57,352)

Schedule of geographical information


in EUR k	2023
	Pharmaceutical	Diagnostics	Total
Rendering of services	14,318	33,734	48,052
Sales of goods	484	—	484
Total Revenues from contracts with external customers	14,802	33,734	48,536

Recognized over time	14,318	33,734	48,052
Recognized at a point in time	484	—	484
Total Revenues from contracts with external customers	14,802	33,734	48,536

Geographical information
Europe	291	7,438	7,729
—Germany*	—	95	95
—Netherlands**	—	2	2
Middle East	344	20,395	20,739
—Saudi Arabia#	143	13,236	13,379
North America	14,126	748	14,874
—United States#	14,126	708	14,834
Latin America	41	4,265	4,306
Asia Pacific	—	888	888
Total	14,802	33,734	48,536


in EUR k	2022
	Pharmaceutical	Diagnostics	Total
Rendering of services	15,420	31,358	46,778
Sales of goods	695	—	695
Total Revenues from contracts with external customers	16,115	31,358	47,473

Recognized over time	15,420	31,358	46,778
Recognized at a point in time	695	—	695
Total Revenues from contracts with external customers	16,115	31,358	47,473

Geographical information
Europe	361	5,927	6,288
—Germany*	—	307	307
—Netherlands**	—	7	7
Middle East	352	19,549	19,902
—Saudi Arabia#	—	12,412	12,412
North America	15,346	1,245	16,591
—United States#	15,346	1,179	16,525
Latin America	56	3,851	3,907
Asia Pacific	—	786	786
Total	16,115	31,358	47,473


in EUR k	2021
	Pharmaceutical	Diagnostics	Total
Rendering of services	14,879	26,593	41,472
Sales of goods	762	—	762
Total Revenues from contracts with external customers	15,641	26,593	42,234

Recognized over time	14,879	26,593	41,472
Recognized at a point in time	762	—	762
Total Revenues from contracts with external customers	15,641	26,593	42,234

Geographical information
Europe	490	5,425	5,915
—Germany*	—	211	211
—Netherlands**	—	6	6
Middle East	117	16,315	16,432
—Saudi Arabia#	—	9,865	9,865
North America	14,940	1,643	16,583
—United States#	14,940	1,456	16,396
Latin America	94	2,499	2,593
Asia Pacific	—	711	711
Total	15,641	26,593	42,234

* country of the incorporation of Centogene GmbH

** country of the incorporation of Centogene N.V.

# countries contributing more than 10% of the Group's total consolidated revenues for the respective year ended December 31, 2023, 2022 or 2021

Schedule of contract balances


in EUR k	Dec 31, 2023	Dec 31, 2022

Trade receivables (note 17)	16,804	13,637
Contract assets (note 17)	2,611	2,911
Contract liabilities (note 21.2)	694	651

Accounting judgments and estimates

12 Months Ended

Dec. 31, 2023

Accounting judgments and estimates

Accounting judgments and estimates

6 Accounting judgments and estimates

The preparation of the consolidated financial statements requires the management board to make judgments, estimates and assumptions that affect the application of accounting policies and the reported amounts of revenues, expenses, assets and liabilities, and the accompanying disclosures. Actual results could differ from those estimates. Estimates and underlying assumptions are reviewed on an ongoing basis and revisions of estimates are recorded prospectively.

6.1Judgments

Provision for expected credit losses of trade receivables and contract assets

The Group uses a provision matrix to calculate ECLs for trade receivables and contract assets. The provision rates are based on days past due for groupings of various customer segments that have similar loss patterns (e.g. by segment, geography, customer type and rating).

The provision matrix is initially based on the Group's historical observed default rates.

The assessment of the correlation between historical observed default rates and ECLs is a significant estimate. The amount of ECLs is sensitive to changes in circumstances and of forecasted economic conditions. The Group's historical credit loss experience and forecast of economic conditions may also not be representative of customer's actual default in the future. The information about the ECLs on the Group's trade receivables and contract assets is disclosed in Note 23.2.

Deferred tax asset on loss carryforwards

The tax losses carried forward do not expire. In the light of the Company’s loss history, the recognition of deferred taxes for tax losses carried forward and deductible temporary differences is limited to the future reversal of existing taxable temporary differences.

Fair value measurement of financial instruments

When the fair values of financial assets and liabilities recorded in the statement of financial position cannot be measured based on quoted prices in active markets, their fair values are measured using valuation techniques including the discounted cash flow model and option pricing models. The inputs to these models are taken from observable markets where possible, but where this is not feasible, a degree of judgement is required in establishing fair values. For the valuation of the loan hosting a multiple embedded option the Group used the Leveraged Loan Index spread for B- companies as boundary conditions. See Note 23.1 for further details.

Revenue implicit concession

The Group has a diagnostics customer in the Middle Eastern region with a history of significant payment delays. This history has resulted in the recognition of significant subsequent impairment losses by applying the expected credit loss method as the collection of the contractual consideration was historically considered probable upon recognition of revenue. In 2021, based on the developments in its collection experience, additional negotiations with the customer, and past experiences, the Group considered it necessary to reassess its judgments related to the recognition of revenue from contracts with this customer.

The Group’s management concluded, based on the facts and circumstances and management’s expectations regarding this customer, that this uncertainty in the amount of the contract consideration it expects to collect, and the likelihood of accepting a lower amount or changing payment terms represents an “implicit price concession” such that the contract consideration is variable.

Therefore, the Group’s management estimates the amount of the contractual consideration it expects to ultimately collect and for which it is highly probable that related revenue recognized would not be subject to significant future reversals when such uncertainty is resolved. The Group’s management estimates the implicit price concessions by applying an estimated rate of 5% (2022: 2%; 2021: 18%, based primarily upon past collection history).

Despite the uncertainties related to the amount expected to be collected from the customer, based on experience and the facts and circumstances related to the customer, the Group considers it probable that it will collect 95% (2022: 98%; 2021: 82%) of the amount of estimated variable transaction price due to newly agreed payment plans established with the customer. Therefore, the Group records the difference between the billed amount and the amount estimated to be collectible as a reduction to revenue. At the end of each reporting period, and if necessary upon receipt of new information, the Group may revise the amount of the variable consideration included in the transaction price. The Group has applied this accounting policy and accounting estimate to arrangements with this customer prospectively with effect from the third quarter of 2021.

Investment in Joint Venture

On June 26, 2023, as mentioned in Note 1, the Company entered into a joint venture agreement (the “Joint Venture Agreement”) with Pharmaceutical Investment Company (“PIC” or “Lifera”), a closed joint stock company incorporated pursuant to the laws of Saudi Arabia and a wholly-owned subsidiary of the Public Investment Fund (PIF) based in Riyadh, to form a joint venture under the laws of Saudi Arabia. Management has analyzed the terms included in the contract analyzing the control over the JV under IFRS 10, considering such as voting rights, percentage of ownership, board reserves matter and resolutions, concluding the Company has joint control over the “JV”, classifying the investment as an investment in a Joint Venture under IAS28 – refer to Note 15 Investment in Joint Venture.

6.2 Assumptions and estimation uncertainties

Going Concern

In assessing whether the going concern assumption is appropriate and whether there are material uncertainties that may cast significant doubt about our ability to continue as a going concern, management must estimate future cash flows for a period of at least twelve-months following the end of the reporting period by considering relevant available information about the future. Management has considered a wide range of factors relating to expected cash inflows which are subject to uncertainty, including the forecasted revenue from the Diagnostics and Pharmaceutical segments, as well as whether we will enter into any new significant pharmaceutical partnerships, and realize potential cash injections from the sale of receivables, assuming such sale meets the requirements for a true sale under IFRS, modifications under the convertible loan, the sale of the shares in the JV, as well as the possibility to comply with covenants mentioned in note 2.2. Management has also estimated cash outflows such as operating and capital expenditures and debt repayments, including the ability to delay uncommitted expenditures, and to benefit from the implementation of certain cost saving measures. Estimated future cash flows are derived from cash inflows from projected revenues less projected cash costs and are based

on the approved budget adjusted for any earnings that have come from the year-to-date performance. Estimated future cash flows have been prepared based on assumptions such as:

●

additional capital injections in relation to sold receivables from customers in the region of the Kingdom of Saudi Arabia which are conditional on certain contract closing and payment conditions not yet met (i.e., achievement of business plan targets) and that such sale, if implemented will meet the true sale criteria under IFRS,

●

additional cash injections in relation to sold shares in the JV to PIC,

●

compliance with covenants in our Oxford Loan and Security Agreement,

●

revenue growth rates by segment,

●

current contract pipeline considering signed contracts and contracts under negotiations in our pharmaceutical segment,

●

consumable costs affecting the overall margin to be significantly reduced in the following years due to the incorporation of a new sequencer on the laboratory that reduces the material required to run the diagnostic tests and

●

reduction of R&D and G&A expenses based on the Company’s implemented cost saving measures.

Share-based payments

Estimating fair value for share-based payment transactions requires a determination of the most appropriate valuation model, which depends on the terms and conditions of the grant. For the measurement of the fair value of equity-settled transactions at the grant date (including those issued to replace the cash-settled transactions), the Group uses the Monte Carlo simulation model. The fair value at grant date of equity-settled transactions is not updated at the end of each reporting period.

Non-controlling interests

12 Months Ended

Dec. 31, 2023

Non-controlling interests.

Non-controlling interests

25 Non-controlling interests

As of December 31, 2023, the Group has no non-controlling interests, since in 2022 the Group acquired the remaining 10% of Centogene GmbH (Austria). In addition, with the decision to cease COVID-19 operations as of March 31, 2022, Centogene terminated its cooperation agreement with Dr. Bauer GmbH and the control over Dr. Bauer GmbH ceased; Centogene no longer meets

the criteria of the control model under IFRS 10 as it no longer has exposure to variable returns and the ability to use power to affect returns through COVID-19 operations (see Note 4).


Dec 31, 2021	Centogene GmbH, Vienna	Dr. Bauer Laboratoriums GmbH
in EUR k
Net assets/(liabilities)	(528)	245
Carrying amount of non‑controlling interests	(53)	—
Revenue	—	109,015
Profit/(loss)	(6)	98
Profit/(loss) allocated to non‑controlling interests	(1)	98

Equity - Issued capital and capital reserve (Details) - Common shares - € / shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Equity
Number of shares issued and fully paid, Beginning	27,595,835	22,567,971	22,118,000
Issued shares		4,998,000
Exercise of options	1,404,000	30,000	450,000
Number of shares issued and fully paid, Ending	29,000,137	27,595,835	22,567,971
Authorized common shares	79,000,000	79,000,000	79,000,000
Par value per share (in euros per share)	€ 0.12	€ 0.12	€ 0.12

Financial instruments-fair values and risk management - Sensitivity analysis (Details) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Financial instruments-fair values and risk management
Earnings before tax, 5% increase	€ 31	€ (94)
Earnings before tax, 5% decrease	(34)	104
Equity, 5% increase	31	(94)
Equity, 5% decrease	€ (34)	€ 104

Right-of-use assets

12 Months Ended

Dec. 31, 2023

Right-of-use assets.

Right-of-use assets

14 Right-of-use assets

The Group has lease contracts for land and buildings and offices in Germany and the United States, as well as various items of plant, machinery, motor vehicles and other equipment used in its operations. Leases for land and buildings is related to the sale and leaseback transaction of the Rostock headquarters building and the office in Berlin, both with a lease term of 12 years. Leases of plant and machinery and other equipment generally have lease terms between 2 and 4 years, while motor vehicles generally have lease terms of 3 years. The Group’s obligations under its leases are secured by the lessor’s title to the leased assets. Generally, the Group is restricted from subleasing the leased assets. In addition, a bank guarantee of EUR 3,257k (which is secured by cash deposit of EUR 3,257k) is required to be maintained for the leases of Rostock headquarters building and Berlin offices until the expiry or termination of the leases. Leases of certain plant and machineries were also secured with rental deposits of EUR 51k.

The lease contract of Rostock headquarters building includes extension options. These options are negotiated by management to provide flexibility in managing the leased-asset portfolio and align with the Group’s business needs. The lease of Rostock headquarters building allows the Group to extend the rental contract twice, each for a period of 6 years, after the expiration of agreement in September 2031 with rental payments of approximately EUR 1.5 million per annum. Such extension option is not included in the right-of-use assets and lease liabilities, as it is not reasonably certain that such extension option will be exercised.

The Group also has certain leases of motor vehicles and premises with lease terms of 12 months or less and leases of office equipment with low value. The Group applies the ‘short-term lease’ and ‘lease of low-value assets’ recognition exemptions for these leases.

Set out below are the carrying amounts of right-of-use assets and movements during the period:


			Plant and	Other	Motor
In EUR k	Buildings*	Offices	equipment	equipment	Vehicles	Total


As of Jan 1, 2021	12,005	4,176	4,587	1,315	37	22,120
Additions	—	133	1,121	179	19	1,452
Transfers to property, plant & equipment**	—	—	(672)	—	—	(672)
Depreciation expenses	(1,121)	(970)	(1,745)	(138)	(22)	(3,996)
As of December 31, 2021	10,884	3,339	3,291	1,356	34	18,904
Additions	—	112	95	—	21	228
Transfers to property, plant & equipment**	—	—	(772)	(127)	—	(899)
Depreciation expenses	(1,124)	(529)	(1,081)	(127)	(22)	(2,882)
As of December 31, 2022	9,760	2,922	1,533	1,102	33	15,351
Additions	866	13	975	—	—	1,854
Transfers to property, plant & equipment**	—	—	(1,627)	—	—	(1,627)
Depreciation expenses	(1,133)	(364)	(422)	—	(24)	(1,943)
As of December 31, 2023	9,493	2,571	459	1,102	9	13,635

* As the lease of land and buildings are made through one contract, all the related right-of-use assets are allocated to Buildings.

** Transfers of leased assets to PP&E (Note 13) represents purchased assets at the end of lease term.

Set out below are the carrying amounts of lease liabilities and the movements during the period:


in EUR k	2023	2022	2021

As of January 1	15,436	18,724	21,205
Additions	1,657	204	1,452
Interest expenses	579	637	584
Disposals	—	—	(273)
Payments	(3,095)	(4,129)	(4,244)
As of December 31	14,577	15,436	18,724

Current	2,178	2,311	3,330
Non-current	12,399	13,125	15,394

The maturity analysis of lease liabilities is disclosed in Note 23.

The following are the amounts recognized in profit or loss:


in EUR k	2023	2022	2021
Depreciation expense of right-of-use assets	1,943	2,882	3,996
Interest expenses on lease liabilities	579	637	584
Rent expenses—short-term leases	175	770	7,175
Rent expense—leases of low-value assets	21	27	48
Total amounts recognized in profit or loss	2,718	4,316	11,803

The Group had total cash outflows for leases of EUR 3,095k in 2023 (2022: EUR 5,111k; 2021: EUR 11,467k). The future cash outflows relating to non-cancellable short-term leases and leases of low-value assets, are disclosed in Note 26. The future cash outflow related to residual value guarantees are disclosed in Note 23.

Financial instruments-fair values and risk management - Credit risk (Details) € in Thousands	12 Months Ended
	Dec. 31, 2023 EUR (€) customer	Dec. 31, 2022 EUR (€)	Dec. 31, 2021 EUR (€)	Dec. 31, 2020 EUR (€)
Credit risk exposure
Cash and cash equivalents	€ 19,099	€ 35,951	€ 17,818	€ 48,156
Development of impairment losses
Provision/(reversal) for expected credit losses	761		827
Impairment loss on financial assets	812		827
Amount of decrease in receivables past due by more than 90 days	7,449	5,069
Credit risk
Credit risk exposure
Cash and cash equivalents	19,099	35,951	17,818
Development of impairment losses
Provision For Expected Credit Losses	761
Allowance for expected credit losses \| Specific bad debt allowances \| Credit risk
Credit risk exposure
Trade receivables and contract assets	(5,083)	(4,392)	(5,317)	€ (4,693)
Development of impairment losses
Allowance for expected credit losses at beginning of period	4,392	5,317	4,693
Provision/(reversal) for expected credit losses	(761)	829	(827)
Derecognition	(70)	(96)	(203)
Allowance for expected credit losses at end of period	5,083	4,392	5,317
More than 365 days \| Allowance for expected credit losses \| Specific bad debt allowances \| Credit risk
Development of impairment losses
Derecognition	(70)	(96)	(7)
Trade receivables and contract assets. \| Cost
Credit risk exposure
Trade receivables and contract assets	24,498	€ 20,940	€ 28,779
Expected credit loss rate		21.00%	19.00%
Development of impairment losses
Allowance for expected credit losses at beginning of period	(20,940)	€ (28,779)
Allowance for expected credit losses at end of period	€ (24,498)	(20,940)	€ (28,779)
Trade receivables and contract assets. \| Allowance for expected credit losses
Credit risk exposure
Expected credit loss rate	20.80%
Development of impairment losses
Expected credit loss	€ 5,083	4,392	5,317
Trade receivables and contract assets. \| Middle East \| Cost
Credit risk exposure
Trade receivables and contract assets	18,820	15,291	13,967
Development of impairment losses
Allowance for expected credit losses at beginning of period	(15,291)	(13,967)
Allowance for expected credit losses at end of period	(18,820)	(15,291)	(13,967)
Trade receivables and contract assets. \| Europe \| Cost
Credit risk exposure
Trade receivables and contract assets	3,490	1,987	11,486
Development of impairment losses
Allowance for expected credit losses at beginning of period	(1,987)	(11,486)
Allowance for expected credit losses at end of period	(3,490)	(1,987)	(11,486)
Trade receivables and contract assets. \| Latin America \| Cost
Credit risk exposure
Trade receivables and contract assets	966	825	683
Development of impairment losses
Allowance for expected credit losses at beginning of period	(825)	(683)
Allowance for expected credit losses at end of period	(966)	(825)	(683)
Trade receivables and contract assets. \| North America \| Cost
Credit risk exposure
Trade receivables and contract assets	801	2,443	2,513
Development of impairment losses
Allowance for expected credit losses at beginning of period	(2,443)	(2,513)
Allowance for expected credit losses at end of period	(801)	(2,443)	(2,513)
Trade receivables and contract assets. \| Asia Pacific \| Cost
Credit risk exposure
Trade receivables and contract assets	240	143	130
Development of impairment losses
Allowance for expected credit losses at beginning of period	(143)	(130)
Allowance for expected credit losses at end of period	(240)	(143)	(130)
Trade receivables and contract assets. \| Not past due \| Cost
Credit risk exposure
Trade receivables and contract assets	13,186	€ 12,925	€ 17,929
Expected credit loss rate		1.00%	2.00%
Development of impairment losses
Allowance for expected credit losses at beginning of period	(12,925)	€ (17,929)
Allowance for expected credit losses at end of period	€ (13,186)	(12,925)	€ (17,929)
Trade receivables and contract assets. \| Not past due \| Allowance for expected credit losses
Credit risk exposure
Expected credit loss rate	1.00%
Development of impairment losses
Expected credit loss	€ 131	124	403
Trade receivables and contract assets. \| Not past due \| Middle East \| Cost
Credit risk exposure
Trade receivables and contract assets	8,352	8,021	3,999
Development of impairment losses
Allowance for expected credit losses at beginning of period	(8,021)	(3,999)
Allowance for expected credit losses at end of period	(8,352)	(8,021)	(3,999)
Trade receivables and contract assets. \| Not past due \| Europe \| Cost
Credit risk exposure
Trade receivables and contract assets	3,103	1,494	10,771
Development of impairment losses
Allowance for expected credit losses at beginning of period	(1,494)	(10,771)
Allowance for expected credit losses at end of period	(3,103)	(1,494)	(10,771)
Trade receivables and contract assets. \| Not past due \| Latin America \| Cost
Credit risk exposure
Trade receivables and contract assets	693	742	531
Development of impairment losses
Allowance for expected credit losses at beginning of period	(742)	(531)
Allowance for expected credit losses at end of period	(693)	(742)	(531)
Trade receivables and contract assets. \| Not past due \| North America \| Cost
Credit risk exposure
Trade receivables and contract assets	696	2,275	2,513
Development of impairment losses
Allowance for expected credit losses at beginning of period	(2,275)	(2,513)
Allowance for expected credit losses at end of period	(696)	(2,275)	(2,513)
Trade receivables and contract assets. \| Not past due \| Asia Pacific \| Cost
Credit risk exposure
Trade receivables and contract assets	161	142	115
Development of impairment losses
Allowance for expected credit losses at beginning of period	(142)	(115)
Allowance for expected credit losses at end of period	(161)	(142)	(115)
Trade receivables and contract assets. \| Past due 1 to 30 day \| Cost
Credit risk exposure
Trade receivables and contract assets	1,569	€ 1,289	€ 1,396
Expected credit loss rate		3.90%	7.70%
Development of impairment losses
Allowance for expected credit losses at beginning of period	(1,289)	€ (1,396)
Allowance for expected credit losses at end of period	€ (1,569)	(1,289)	€ (1,396)
Trade receivables and contract assets. \| Past due 1 to 30 day \| Allowance for expected credit losses
Credit risk exposure
Expected credit loss rate	5.50%
Development of impairment losses
Expected credit loss	€ 86	50	107
Trade receivables and contract assets. \| Past due 1 to 30 day \| Middle East \| Cost
Credit risk exposure
Trade receivables and contract assets	1,143	1,081	1,013
Development of impairment losses
Allowance for expected credit losses at beginning of period	(1,081)	(1,013)
Allowance for expected credit losses at end of period	(1,143)	(1,081)	(1,013)
Trade receivables and contract assets. \| Past due 1 to 30 day \| Europe \| Cost
Credit risk exposure
Trade receivables and contract assets	152	124	351
Development of impairment losses
Allowance for expected credit losses at beginning of period	(124)	(351)
Allowance for expected credit losses at end of period	(152)	(124)	(351)
Trade receivables and contract assets. \| Past due 1 to 30 day \| Latin America \| Cost
Credit risk exposure
Trade receivables and contract assets	134	62	23
Development of impairment losses
Allowance for expected credit losses at beginning of period	(62)	(23)
Allowance for expected credit losses at end of period	(134)	(62)	(23)
Trade receivables and contract assets. \| Past due 1 to 30 day \| North America \| Cost
Credit risk exposure
Trade receivables and contract assets	105	21
Development of impairment losses
Allowance for expected credit losses at beginning of period	(21)
Allowance for expected credit losses at end of period	(105)	(21)
Trade receivables and contract assets. \| Past due 1 to 30 day \| Asia Pacific \| Cost
Credit risk exposure
Trade receivables and contract assets	35	1	9
Development of impairment losses
Allowance for expected credit losses at beginning of period	(1)	(9)
Allowance for expected credit losses at end of period	(35)	(1)	(9)
Trade receivables and contract assets. \| 1 - 3 months \| Cost
Credit risk exposure
Trade receivables and contract assets	2,294	€ 1,657	€ 2,393
Expected credit loss rate		7.40%	11.70%
Development of impairment losses
Allowance for expected credit losses at beginning of period	(1,657)	€ (2,393)
Allowance for expected credit losses at end of period	€ (2,294)	(1,657)	€ (2,393)
Trade receivables and contract assets. \| 1 - 3 months \| Allowance for expected credit losses
Credit risk exposure
Expected credit loss rate	10.00%
Development of impairment losses
Expected credit loss	€ 229	122	280
Trade receivables and contract assets. \| 1 - 3 months \| Middle East \| Cost
Credit risk exposure
Trade receivables and contract assets	1,961	1,533	2,056
Development of impairment losses
Allowance for expected credit losses at beginning of period	(1,533)	(2,056)
Allowance for expected credit losses at end of period	(1,961)	(1,533)	(2,056)
Trade receivables and contract assets. \| 1 - 3 months \| Europe \| Cost
Credit risk exposure
Trade receivables and contract assets	195	64	259
Development of impairment losses
Allowance for expected credit losses at beginning of period	(64)	(259)
Allowance for expected credit losses at end of period	(195)	(64)	(259)
Trade receivables and contract assets. \| 1 - 3 months \| Latin America \| Cost
Credit risk exposure
Trade receivables and contract assets	95	12	72
Development of impairment losses
Allowance for expected credit losses at beginning of period	(12)	(72)
Allowance for expected credit losses at end of period	(95)	(12)	(72)
Trade receivables and contract assets. \| 1 - 3 months \| North America \| Cost
Credit risk exposure
Trade receivables and contract assets		48
Development of impairment losses
Allowance for expected credit losses at beginning of period	(48)
Allowance for expected credit losses at end of period		(48)
Trade receivables and contract assets. \| 1 - 3 months \| Asia Pacific \| Cost
Credit risk exposure
Trade receivables and contract assets	43		6
Development of impairment losses
Allowance for expected credit losses at beginning of period		(6)
Allowance for expected credit losses at end of period	(43)		(6)
Trade receivables and contract assets. \| Past due more than 90 days \| Cost
Credit risk exposure
Trade receivables and contract assets	7,449	€ 5,069	€ 7,061
Expected credit loss rate		80.80%	64.10%
Development of impairment losses
Allowance for expected credit losses at beginning of period	(5,069)	€ (7,061)
Allowance for expected credit losses at end of period	€ (7,449)	(5,069)	€ (7,061)
Trade receivables and contract assets. \| Past due more than 90 days \| Allowance for expected credit losses
Credit risk exposure
Expected credit loss rate	62.30%
Development of impairment losses
Expected credit loss	€ 4,637	4,096	4,526
Trade receivables and contract assets. \| Past due more than 90 days \| Middle East \| Cost
Credit risk exposure
Trade receivables and contract assets	7,364	4,656	6,899
Development of impairment losses
Allowance for expected credit losses at beginning of period	(4,656)	(6,899)
Allowance for expected credit losses at end of period	(7,364)	(4,656)	(6,899)
Trade receivables and contract assets. \| Past due more than 90 days \| Europe \| Cost
Credit risk exposure
Trade receivables and contract assets	40	305	105
Development of impairment losses
Allowance for expected credit losses at beginning of period	(305)	(105)
Allowance for expected credit losses at end of period	(40)	(305)	(105)
Trade receivables and contract assets. \| Past due more than 90 days \| Latin America \| Cost
Credit risk exposure
Trade receivables and contract assets	44	9	57
Development of impairment losses
Allowance for expected credit losses at beginning of period	(9)	(57)
Allowance for expected credit losses at end of period	(44)	(9)	€ (57)
Trade receivables and contract assets. \| Past due more than 90 days \| North America \| Cost
Credit risk exposure
Trade receivables and contract assets		99
Development of impairment losses
Allowance for expected credit losses at beginning of period	(99)
Allowance for expected credit losses at end of period		(99)
Trade receivables and contract assets. \| Past due more than 90 days \| Asia Pacific \| Cost
Credit risk exposure
Trade receivables and contract assets	1
Development of impairment losses
Allowance for expected credit losses at end of period	(1)
Contract assets \| Cost
Credit risk exposure
Trade receivables and contract assets	181	251
Development of impairment losses
Allowance for expected credit losses at beginning of period	(251)
Allowance for expected credit losses at end of period	(181)	(251)
Contract assets \| Not past due \| Cost
Credit risk exposure
Trade receivables and contract assets	181	251
Development of impairment losses
Allowance for expected credit losses at beginning of period	(251)
Allowance for expected credit losses at end of period	€ (181)	€ (251)
Diagnostics \| Middle East
Credit risk exposure
Average turnover period on trade receivables	300 days
Diagnostics \| MENA \| Credit risk
Credit risk exposure
Number of top diagnostic customers \| customer	10
Diagnostics \| MENA \| Credit risk \| Minimum
Credit risk exposure
Percentage of overdue balances	77.00%

Consolidated statements of comprehensive loss - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Consolidated statements of comprehensive loss
Revenue	€ 48,536	€ 47,473	€ 42,234
Cost of sales	31,287	27,712	28,735
Gross profit	17,249	19,761	13,499
Research and development expenses	12,361	17,488	19,297
General administrative expenses	32,588	32,587	43,480
Selling expenses	12,564	9,924	9,326
Impairment of financial assets	812		827
Gain on reversal of financial asset impairment		432
Other operating income	11,848	3,774	2,894
Other operating expenses	431	741	86
Operating loss	(29,659)	(36,773)	(56,623)
Losses from investments accounted for by the Equity method	(302)
Gains/(losses) on changes in fair value of warrants	(159)	2,574
Interest and similar income	3,293	512	3
Interest and similar expenses	8,418	4,909	802
Total Financial costs, net	(5,284)	(1,823)	(799)
Loss before taxes from continuing operations	(35,245)	(38,596)	(57,422)
Income taxes expenses	287	107	(70)
Loss for the year from continuing operations	(35,532)	(38,703)	(57,352)
Net income from discontinued operations, net of tax		6,862	11,106
Loss for the period	(35,532)	(31,841)	(46,246)
Other comprehensive income/(loss), all attributable to equity holders of the parent	(271)	(76)	543
Total comprehensive loss	(35,803)	(31,917)	(45,703)
Attributable to:
Equity holders of the parent	(35,803)	(31,917)	(45,801)
Noncontrolling interests from continuing operations			98
Total comprehensive loss	€ (35,803)	€ (31,917)	€ (45,703)
Net loss per share - Continuing operations - Basic (in EUR)	€ (1.27)	€ (1.45)	€ (2.53)
Net loss per share - Continuing operations - Diluted (in EUR)	(1.27)	(1.45)	(2.53)
Net loss per share - Loss attributable to parent - Basic (in EUR)	(1.27)	(1.19)	(2.04)
Net loss per share - Loss attributable to parent - Diluted (in EUR)	€ (1.27)	€ (1.19)	€ (2.04)

Share-based payments - ESOP/ VSOP 2017 (Details)	12 Months Ended
Share-based payments - ESOP/ VSOP 2017 (Details)	Dec. 31, 2023 item Options shares $ / shares	Dec. 31, 2022 shares $ / shares	Dec. 31, 2021 Options shares € / shares	Dec. 31, 2019 shares € / shares
Number
Warrants exercisable	1,343,727	1,343,727	0
Equity share option 2017 (Equity settled)
Share-based payments
Number of common shares per option granted				1
Lock-up period				180 days
Weighted average remaining contractual life	6 years
Number
Granted during the year				805,308
No of options exercised during the period	68,201	29,509	191,565
Outstanding as of December 31	259,730
WAEP
Granted during the year \| € / shares				€ 0.12
Exercised during the year \| (per share)	$ 1.01	$ 1.25	€ 9.76
2019 Plan \| RSUs
Share-based payments
RSUs granted \| Options			167,326
WAEP
Vested as of December 31 \| $ / shares		$ 1.0
Number
No of RSUs exercised during the period	15,734	300,000
Outstanding as of December 31 \| item	17,676

Investment in Joint Venture

12 Months Ended

Dec. 31, 2023

Investment in Joint Venture

Investment in Joint Venture

15. Investment in Joint Venture

On June 26, 2023, the Company entered into a joint venture agreement (the “Joint Venture Agreement”) with Pharmaceutical Investment Company (“PIC” or “Lifera”), a closed joint stock company incorporated pursuant to the laws of Saudi Arabia and a wholly-owned subsidiary of the Public Investment Fund (PIF) based in Riyadh, to form a joint venture under the laws of Saudi Arabia.
According to the joint venture agreement, the founding capital is to be provided 80% (SAR 80,000,000; EUR 19,892k) by PIC and 20% (SAR 20,000,000; EUR 4,973k) by the Company and will be used to finance business operations, including the establishment of a laboratory competence center in the Kingdom of Saudi Arabia (“KSA”). Pursuant to the Joint Venture Agreement, and subject to the terms and conditions contained therein, the Company and PIC have established a limited liability company in Saudi Arabia, Genomics Innovations Company Limited, (the “JV”) on November 19, 2023. The joint venture will be involved in providing state-of-the-art multiomic testing services to patients, health systems, biopharma clients, and research institutions in Saudi Arabia and countries of the Gulf Cooperation Council (GCC).

The Group’s interest in the JV is accounted for using the equity method in the consolidated financial statements. Management obtained financial information from the JV as a reporting package based in local GAAP and analyzed the necessary adjustment to convert the information into IFRS based financial statements. Summarized financial information of the joint venture, and reconciliation with the carrying amount of the investment in the consolidated financial statements are set out below:

Summary financial information of the JV:


Dec 31, 2023	in SAR k	in EUR k

Non‑current assets	40,000	9,946
Current assets	60,000	14,919
Cash and Cash equivalents	60,000	14,919
	100,000	24,865

Equity	93,818	23,328
Non‑current liabilities	—	—
Current liabilities	6,182	1,537
	100,000	24,865


Dec 31, 2023	in SAR k	in EUR k

Operating loss	(6,000)	(1,465)
Loss before tax	(6,000)	(1,465)
Loss for the year	(6,182)	(1,509)
Total comprehensive loss for the year	(6,182)	(1,509)

The details of the movement in investments accounted for by the equity method in 2023 was as follows:


	% Holding	Investments accounted for by the equity method	Share of (loss) income of investments accounted for by the Equity method
in EUR k		Dec 31, 2023	2023

Investment in Joint Venture	20%	2,784	(302)

Total		2,784	(302)


in EUR k		2023
As of January 1		—
Additions		4,973
Disposals		—
Translation differences and other comprehensive income (loss)		—
Loss		(302)
Dividends		—
Transfers and others		(1,887)
As of December 31		2,784

Following this, to finance the contribution, the Company entered into a convertible loan agreement that was signed on October 26, 2023. Cash of USD 30 million (EUR 28.3 million) was received from PIC on October 30, 2023 (Note 21.1).

Pursuant to the Joint Venture establishment mentioned above, the Company and PIC have agreed to a Technology Transfer and Intellectual Property License Agreement, a Consultancy Agreement and a Laboratory Services Agreement.

As mentioned in note 8.1, as a result from the transfer of technology and the license of the company’s Intellectual Property (“IP”), which amounted to a gain of EUR 9,436k, the Company recognized the 20% as a deduction of its investment in the joint venture according to IAS 28.28, amounted to EUR 1,887k.

Income taxes - Taxes recognized through profit or loss (Details) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income taxes
Current tax expenses	€ 85	€ (152)	€ (72)
Current year	(41)	(144)	(56)
Adjustments for prior periods	126	(8)	(16)
Deferred tax (expense)/income	(372)	45	142
Temporary differences	(372)	45	142
Income tax (expenses)/ benefit	(287)	(107)	70
Income taxes recognized directly in other comprehensive income	€ 0	€ 0	€ 0

- Definition

The aggregate amount included in the determination of profit (loss) for the period in respect of current tax and deferred tax. [Refer: Current tax expense (income); Deferred tax expense (income)]

+ References + Details

Consolidated statements of changes in equity - EUR (€) € in Thousands	Total equity	Issued capital	Capital reserve	Currency translation reserve	Accumulated deficit	Non-controlling interests	Total
Balance at beginning of the period at Dec. 31, 2020	€ 64,831	€ 2,654	€ 125,916	€ (48)	€ (63,691)	€ 95	€ 64,926
Loss for the year	(46,344)				(46,344)	98	(46,246)
Other comprehensive loss	543			543			543
Total comprehensive loss	(45,801)			543	(46,344)	98	(45,703)
Share-based payments	8,035		8,035				8,035
Exercise of options		54	(54)
Balance at end of the period at Dec. 31, 2021	27,064	2,708	133,897	495	(110,036)	193	27,258
Loss for the year	(31,841)				(31,841)		(31,841)
Other comprehensive loss	(76)			(76)			(76)
Total comprehensive loss	(31,917)			(76)	(31,841)		(31,917)
Issuance of shares	14,972	594	14,378				14,972
Share-based payments	(16)		(16)				(16)
Exercise of options		5	(5)
Warrant liability	(2,832)		(2,832)				(2,832)
Disposal of non-wholly owned subsidiary	140		(53)		193	€ (193)	(53)
Balance at end of the period at Dec. 31, 2022	7,411	3,307	145,369	419	(141,684)		7,411
Loss for the year	(35,532)				(35,532)		(35,532)
Other comprehensive loss	(271)			(271)			(271)
Total comprehensive loss	(35,803)			(271)	(35,532)		(35,803)
Share-based payments	3,131		3,131				3,131
Exercise of options		171	(171)
Other movements	(21)		(21)				(21)
Balance at end of the period at Dec. 31, 2023	€ (25,282)	€ 3,478	€ 148,308	€ 148	€ (177,216)		€ (25,282)

Document and Entity Information	12 Months Ended
Document and Entity Information	Dec. 31, 2023 shares
Document Information [Line Items]
Document Type	20-F
Document Registration Statement	false
Document Annual Report	true
Document Period End Date	Dec. 31, 2023
Document Transition Report	false
Document Shell Company Report	false
Entity File Number	001-39124
Entity Registrant Name	Centogene N.V.
Entity Incorporation, State or Country Code	P7
Entity Address, Address Line One	Am Strande 7
Entity Address, Postal Zip Code	18055
Entity Address, City or Town	Rostock
Entity Address, Country	DE
Title of 12(b) Security	Common shares, par value EUR 0.12 per share
Trading Symbol	CNTG
Security Exchange Name	NASDAQ
Entity Common Units, Units Outstanding	27,595,835
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Emerging Growth Company	true
ICFR Auditor Attestation Flag	false
Document Financial Statement Error Correction [Flag]	false
Document Accounting Standard	International Financial Reporting Standards
Entity Shell Company	false
Auditor Name	EY GmbH & Co. KG Wirtschaftsprüfungsgesellschaft
Auditor Firm ID	1251
Auditor Location	Berlin, Germany
Entity Central Index Key	0001757097
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	FY
Amendment Flag	false
Entity Ex Transition Period	false
Business Contact [Member]
Document Information [Line Items]
Entity Address, Address Line One	Am Strande 7
Entity Address, Postal Zip Code	18055
Entity Address, City or Town	Rostock
Entity Address, Country	DE
Contact Personnel Name	Kim Stratton
City Area Code	+49
Local Phone Number	381 80113 500
Contact Personnel Email Address	kim.stratton@centogene.com

Significant accounting policies (Details)	12 Months Ended
Significant accounting policies (Details)	Dec. 31, 2023 د.إ / €	Dec. 31, 2023 د.إ / €	Dec. 31, 2023 د.إ / € SFr / €	Dec. 31, 2023 د.إ / € ₨ / €	Dec. 31, 2023 د.إ / € дин / €	Dec. 31, 2023 EUR (€) د.إ / €	Dec. 31, 2023 د.إ / € $ / €	Dec. 31, 2023 د.إ / € ر.س / €	Dec. 31, 2023 د.إ / € D	Dec. 31, 2022 د.إ / €	Dec. 31, 2022 د.إ / € SFr / €	Dec. 31, 2022 د.إ / € ₨ / €	Dec. 31, 2022 د.إ / € дин / €	Dec. 31, 2022 EUR (€) د.إ / €	Dec. 31, 2022 د.إ / € $ / €	Dec. 31, 2021 د.إ / €	Dec. 31, 2021 د.إ / € SFr / €	Dec. 31, 2021 د.إ / € ₨ / €	Dec. 31, 2021 د.إ / € дин / €	Dec. 31, 2021 EUR (€) د.إ / €	Dec. 31, 2021 د.إ / € $ / €	Dec. 31, 2023 SFr / €	Dec. 31, 2023 ₨ / €	Dec. 31, 2023 дин / €	Dec. 31, 2023 EUR (€)	Dec. 31, 2023 $ / €	Dec. 31, 2023 ر.س / €	Dec. 31, 2022 SFr / €	Dec. 31, 2022 ₨ / €	Dec. 31, 2022 дин / €	Dec. 31, 2022 EUR (€)	Dec. 31, 2022 $ / €	Dec. 31, 2021 SFr / €	Dec. 31, 2021 ₨ / €	Dec. 31, 2021 дин / €	Dec. 31, 2021 $ / €
Foreign currency and currency translation
Average rate		4.00	0.94	89.30	116.91		1.09	4.13		3.87	1.00	82.69	117.46		1.05	4.15	1.08	85.18	117.39		1.13
Closing rate	4.06	4.06	4.06	4.06	4.06	4.06	4.06	4.06	4.06	3.94	3.94	3.94	3.94	3.94	3.94	4.17	4.17	4.17	4.17	4.17	4.17	0.93	91.98	116.91		1.11	4.14	0.98	88.17	117.33		1.07	1.03	84.23	117.27	1.13
Financial instruments
Number of days past due, to consider a financial asset as default \| D									360
Convertible Loan
Currency gains (loss)						€ (1,111)								€ 0						€ 0
Derivative liabilities																									€ 242,000						€ 376,000
Buildings
Property, plant and equipment
Estimated useful life of property, plant and equipment	12 years
Leases
Estimated useful life of right-of-use assets	33 years
Offices \| Minimum
Leases
Estimated useful life of right-of-use assets	4 years
Offices \| Maximum
Leases
Estimated useful life of right-of-use assets	12 years
Other property, plant and equipment \| Minimum
Property, plant and equipment
Estimated useful life of property, plant and equipment	2 years
Leases
Estimated useful life of right-of-use assets	2 years
Other property, plant and equipment \| Maximum
Property, plant and equipment
Estimated useful life of property, plant and equipment	15 years
Leases
Estimated useful life of right-of-use assets	15 years
Internally generated/acquired biomarkers \| Maximum
Intangible assets
Estimated useful lives	7 years
Purchase rights, licenses and software \| Minimum
Intangible assets
Estimated useful lives	3 years
Purchase rights, licenses and software \| Maximum
Intangible assets
Estimated useful lives	7 years
Internally developed database \| Minimum
Intangible assets
Estimated useful lives	5 years
Internally developed database \| Maximum
Intangible assets
Estimated useful lives	7 years

Financial liabilities (Tables)

12 Months Ended

Dec. 31, 2023

Financial liabilities

Schedule of interest-bearing liabilities


in EUR k	Dec 31, 2023	Dec 31, 2022
Non‑current liabilities
Non‑current portion of secured bank loans	39,880	40,051
Total non‑current loans	39,880	40,051
Lease liabilities	12,399	13,125
Total non‑current liabilities	52,279	53,176

Current liabilities
Current portion of secured bank loans	—	1,261
Convertible loan	25,882	—
Bank overdrafts	—	3,374
Total current loans	25,882	4,635
Current portion of lease liabilities	2,178	2,311
Total current liabilities	28,060	6,946

Total non‑current and current liabilities	80,339	60,122

Schedule of outstanding interest-bearing liabilities


				Dec 31, 2023			Dec 31, 2022
		Nominal		Nominal	Fair	Carrying	Nominal	Fair	Carrying
in EUR k	Currency	interest rate	Maturity	amount	Value	amount	amount	Value	amount
Convertible Loan	USD	12.80%	2024	27,127	25,882	25,882	—	—	—
Secured bank loan	USD	8.15%	2028	40,691	39,880	39,880	39,015	41,312	41,312
Bank overdrafts	EUR	0.00%	Rollover	—	—	—	499	499	499
Bank overdrafts	EUR	0.00%	Rollover	—	—	—	2,376	2,376	2,376
Bank overdrafts	EUR	0.00%	Rollover	—	—	—	499	499	499
Lease liabilities*	EUR	2.1%-7.55%*	2017-31	14,577	14,577	14,577	15,436	15,436	15,436
Total interest‑bearing financial liabilities				82,395	80,339	80,339	57,825	60,122	60,122

* represents the incremental borrowing rate of the Group at the commencement of the leases

Schedule of trade payables and other liabilities


in EUR k	Dec 31, 2023	Dec 31, 2022
Trade payables	5,628	6,317
Government grants (deferred income)	6,685	7,950
Contract liabilities	694	651
Warrant liability	394	260
Derivative liabilities	242	376
Others	7,961	9,601
Trade payables and other liabilities	21,604	25,155
Non‑current	6,385	7,726
Current	15,219	17,429

Schedule of key assumptions used to derive warrants value


	Dec 31, 2023	Dec 31, 2022
Exercise price (USD)	7.72	7.72
Share price (USD)	1.20	0.93
Volatility (%)	100.00	85.00
Risk-free interest rate (%)	4.12	4.15
Dividend yield (%)	nil	nil
Time to maturity	3.00	4.00

Trade and other receivables and other assets (Details) € in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2023 EUR (€)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 EUR (€)	Dec. 31, 2021 EUR (€)
Non-current
Other assets-Rental deposits	€ 3,317		€ 2,819
Other assets-Others	108		92
Trade receivables and contract assets and other assets non-current	3,425		2,911
Current
Trade receivables	16,804		13,637
Contract assets	2,611		2,911
Other assets	3,042		5,514
Trade receivables and contract assets and other assets current	22,457		22,062
Total non-current and current trade receivables and other assets	€ 25,882		24,973
Minimum
Current
Receivables payment terms	30 days
Maximum
Current
Receivables payment terms	90 days
Other assets
Current
VAT receivables	€ 445		2,039	€ 253
Prepaid expenses	1,595		2,620	3,346
Receivables from exercise of share based payments granted	69		74	116
Receivables from COVID 19 bank or credit card transactions	0		0	612
Receivables from grants	219		€ 0	€ 0
Other assets \| Rostock headquarters building
Current
Cash deposits provided as security for bank loans \| $		$ 3,000
Bank guarantee	3,257
Other assets \| Berlin Offices
Non-current
Non-current deposits for central procurement and supplies	108
Current
Cash deposits provided as security for bank loans	257
Bank guarantee	257
Other assets \| Other property, plant and equipment
Non-current
Other assets-Rental deposits	€ 60

Financial instruments-fair values and risk management

12 Months Ended

Dec. 31, 2023

Financial instruments-fair values and risk management

Financial instruments-fair values and risk management

Financial instruments

23 Financial instruments-fair values and risk management

23.1Classifications and fair values

The fair values of the Company’s cash and cash equivalents, trade receivables and contract assets and trade and other payables approximate their carrying values because of the short-term nature of these instruments.

Except for the warrant liability, the prepayment option and interest rate floor derivatives, the Group does not carry any financial instruments at fair value through profit and loss but at amortized cost.

IFRS 13 establishes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value as follows:

Level 1 - quoted prices (unadjusted) in active markets for identical assets or liabilities;

Level 2 - inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly (i.e. as prices) or indirectly (i.e. derived from prices); and

Level 3 - inputs for the asset or liability that are not based on observable market data (unobservable inputs).

The following table shows the fair values of financial instruments as of December 31, 2023, including their level in the fair value hierarchy. It does not include fair value information for financial assets and financial liabilities not measured at fair value if the carrying amount is a reasonable approximation of fair value:


in EUR k	Level 1	Level 2	Level 3	Carrying value	Measurement Category
Non-current loans	—	(39,880)	—	(39,880)	Amortized Cost
Current loans	—	(25,882)	—	(25,882)	Amortized Cost
Warrants liability	—	—	(394)	(394)	FVTPL
Prepayment option derivative asset	—	—	799	799	FVTPL
Interest rate floor derivative liability	—	—	(242)	(242)	FVTPL

As of December 31, 2023, carrying amount of all financial assets or financial liabilities approximated their fair value.

Net gain recognized in the consolidated statements of comprehensive loss, within changes in fair value of warrants, from the warrant liability fair value measurement differences was EUR 159k for year ended December 31, 2023. The net gain or loss recognized in the consolidated statements of comprehensive loss related to the fair value of the prepayment option and interest rate floor derivatives was, respectively, EUR 134k and EUR 288k for year ended December 31, 2023 (December 31, 2022: EUR 510k and a loss EUR (376)k respectively) (see Note 8.3).

The valuation techniques used in measuring level 2 and 3 fair value for financial instruments in the consolidated statements of financial position, as well as the significant unobservable inputs used, were as follows:

The fair value of the warrant liabilities, recognized as non-current financial liability at FVTPL, was calculated by applying a Black-Scholes-Merton option pricing model. This model uses the Centogene’s share price and the share price volatility as material input factors. The volatility is considered as material unobservable input factor (Level 3).

The initial measurement of the fair value of the loan is calculated as being the amount funded less the Fair Value of bifurcated embedded derivatives at entry. The subsequent measurement is determined using a calibrated Income Approach. Cashflows at entry are forecast based on the contractual terms and Interest Rate forward curves sourced from Bloomberg. The internal rate of return (“IRR”) is calculated such that the Present Value of the forecast cashflows is equal to the initial measurement amount. This is categorized as Level 2.

The bifurcated embedded prepayment option and floor are measured initially and subsequently using a hybrid valuation model applying the backward Monte Carlo method, selected to account for the variable strike and American style exercise features. The hybrid valuation model incorporates two risk factors, describing the behavior of interest rates and the company’s credit spread respectively. Interest rates are modelled using a one factor Hull & White process, with the drift, mean reversion and volatility parameters calibrated to observed quotes for interest rate swaps and interest rate caps. Credit spreads are modelled using a lognormal process, with credit spread volatility estimated from the historical volatility of CDS spreads of a set of comparable companies and initial credit spread estimated by calibration at the loan’s agreement date, with adjustments applied based on changes in the Leveraged Loan Index spread for B- companies. Discounting is at the benchmark risk-free rate, with the possibility of default incorporated via a hazard rate associated with the credit spread. This is categorized as Level 3 due to the following unobservable inputs: (i) credit spread; (ii) credit spread volatility.

The table below summarizes the profit or loss impact on the fair values of Level 3 instruments by changing the significant unobservable input factors.


	2023
in EUR k	Shift	increase	decrease
Option (yield) - Credit Spread	+/- 10%	(144)	186
Option (yield) - Volatility	+/- 10%	94	(97)
Option (Floor) - Credit Spread	+/- 10%	6	(6)
Option (Floor) - Volatility	+/- 10%	—	—
Warrant - Volatility	+/- 5%	50	(50)

23.2Financial risk management

The Group is exposed to the following risks from the use of financial instruments:

●

Credit risk

●

Liquidity risk

●

Currency risk

●

Interest rate risk

Credit risk

Credit risk is the risk that a counterparty will not meet its obligations under a financial instrument or customer contract, leading to a financial loss. The Group is exposed to credit risk from its operating activities (primarily trade receivables) and from its financing activities, including deposits with banks and financial institutions and foreign exchange transactions.

The carrying amount of the financial assets corresponds to the maximum default risk.

Trade receivables and contract assets

The Group utilizes a receivables management system that closely manages open items of major customers. The Group’s customers in the Pharmaceutical segment are mainly pharmaceutical companies which are usually listed companies, or strongly financed by private equity funds. The Group’s customers in the Diagnostic segment are mainly hospitals, labs and physicians, of which a large part are generating revenues. To avoid default, the Company may request prepayment for new business.

In addition to the macroeconomic situation generally, the development of international healthcare markets is a key economic factor in assessing the default risk related to trade receivables and contract assets. These markets are closely monitored by the Group.

An impairment analysis is performed at each reporting date using a provision matrix to measure expected credit losses. The provision rates are based on days past due for groupings of various customer segments with similar loss patterns (i.e. by customers from different segment; customers from different geographical region and customer type). The calculation reflects the probability weighted outcome, the time value of money and reasonable and supportable information that is available at the reporting date about past events, current conditions and forecasts of future economic conditions. The maximum exposure to credit risk at the reporting date is the carrying value of each class of financial assets disclosed in Note 17. The Group does not hold collateral as security and does not request letters of credit or other forms of credit insurance. The Group evaluates the concentration of risk with respect to trade receivables and contract assets and recorded credit losses reflecting the expected lifetime loss, based on different types of customers.

Considering the major exposure to the credit risk arising from the Diagnostic segment, the Group focused its impairment analysis on the trade receivables due from customers in the Diagnostic segment, in particular the MENA and Europe regions as they represent the majority of that segment’s revenue. In addition to applying the provision matrix, the Group performed an individual customer analysis on major debtors, with reference to the past history (such as sales and collection in the previous periods) and the assessment of their current financial condition and other relevant factors and evaluated if additional specific impairment losses would be necessary.

Set out below is the information regarding the credit risk exposure of the Group’s trade receivables and contract assets using a provision matrix.


As of December 31, 2023
									Past due by
	Total Gross				Past due 1 -		Past due 31‑ 90		more than 90
in EUR k	amount		Not past due		30 days		days		days
Middle East	18,820		8,352		1,143		1,961		7,364
Europe	3,490		3,103		152		195		40
Latin America	966		693		134		95		44
North America	801		696		105		—		—
Asia Pacific	240		161		35		43		1
Contract assets	181		181		—		—		—
Total	24,498		13,186		1,569		2,294		7,449
Expected credit loss rate	20.8	%	1.0	%	5.5	%	10.0	%	62.3	%
Expected credit loss	5,083		131		86		229		4,637


As of December 31, 2022

									Past due by
	Total Gross				Past due 1 -		Past due 31‑ 90		more than 90
in EUR k	amount		Not past due		30 days		days		days
Middle East	15,291		8,021		1,081		1,533		4,656
Europe	1,987		1,494		124		64		305
Latin America	825		742		62		12		9
North America	2,443		2,275		21		48		99
Asia Pacific	143		142		1		—		—
Contract assets	251		251		—		—		—
Total	20,940		12,925		1,289		1,657		5,069
Expected credit loss rate	21.0	%	1.0	%	3.9	%	7.4	%	80.8	%
Expected credit loss	4,392		124		50		122		4,096


As of December 31, 2021

					Past due by
	Total Gross		Past due 1 -	Past due 31‑ 90	more than 90
in EUR k	amount	Not past due	30 days	days	days
Middle East	13,967	3,999	1,013	2,056	6,899
Europe	11,486	10,771	351	259	105
Latin America	683	531	23	72	57
North America	2,513	2,513	—	—	—
Asia Pacific	130	115	9	6	—
Total	28,779	17,929	1,396	2,393	7,061
Expected credit loss rate	19.0%	2.0%	7.7%	11.7%	64.1%
Expected credit loss	5,317	403	107	280	4,526

Overdue trade receivables from the Middle East region mainly relate to major customers from the Diagnostic segment for which the Company and PIC signed a Receivable Transfer Agreement on April 23, 2024 (see Note 29). The trade receivables due from the top 10 diagnostics customers in the MENA region as of December 31, 2023 represent over 77% of total overdue balances for this region. These customers are mainly government hospitals administered by the Ministry of Health in the respective countries as well as distributors and, based on our past experience, these customers normally require a longer period to settle outstanding trade receivables. The average turnover period from these customers are 300 days. Therefore, a higher country specific loss rate has been used for the MENA region. To manage the credit risk and improve the cash collection, the Group increased the discount percentage to be paid to local agents for the receivables overdue since 2020, 2021 and 2023 from MENA region. Contract assets only contains pharma contracts and diagnostic contract assets are allocated to each region.

Set out below is the movement in the allowance for expected credit losses of trade receivables and contract assets:


in EUR k	2023	2022	2021
As of January 1	4,392	5,317	4,693
Provision/(reversal) for expected credit losses	761	(829)	827
Derecognition of trade receivables	(70)	(96)	(203)
As of December 31	5,083	4,392	5,317

The addition to the allowance for expected credit losses includes an amount of EUR 761k, which related to the increased amount of receivable past due by more than 90 days (2023: EUR 7,449k; 2022: EUR 5,069k). This amount was included in the impairment of financial assets in the profit and loss account. In 2023, trade receivables of EUR 70k (2022: EUR 96k; 2021: EUR 7k) were outstanding for more than 365 days and were derecognized.

Cash and cash equivalents

As of December 31, 2023, the Group held cash and cash equivalents of EUR 19,099k (2022: EUR 35,951k; 2021: EUR 17,818k). Therefore, this total also represents the maximum default risk with regard to these assets. The cash and cash equivalents are deposited principally with financial institutions with investment grade credit ratings.

Liquidity risk

The liquidity risk is the risk of the Group possibly not being in a position to meet its financial liabilities as contractually agreed by providing cash or other financial assets.

The Group's objective is to maintain a balance between continuity of funding and flexibility through the use of bank overdrafts and lease contracts.

Managing liquidity within the Group is intended to ensure that - as far as possible - sufficient cash and cash equivalents are always available to meet payment obligations when these falls due, in both normal and challenging conditions, without incurring unacceptable losses or damaging the Group’s reputation.

As mentioned in Note 2.2, Management prepared the budget based on several assumptions. On a weekly basis, Management monitors the financial positions to identify significant deviation and manage the cash available or the need of additional funding in case there is a shortfall of liquidity.

On January 31, 2022, pursuant to a securities purchase agreement signed with certain investors, we received EUR 15.0 million as consideration for the issuance by us of an aggregate of 4,479,088 common shares at a price per share of USD 3.73 (EUR 3.35). Also, on January 31, 2022, the Company, Centogene GmbH, CentoSafe B.V. and Centogene US, LLC (together, the “Borrowers”), entered into a debt financing agreement in the total amount of up to USD 45.0 million (EUR 40.2 million).

As mentioned in Note 20, Management also monitors the covenants compliance on a quarterly basis in order to implement immediate solutions in case the Company breaches certain covenants. As also mentioned in Note 29, the Company has received a notification from Nasdaq due to non-compliance with the requirements to be listed, which consequences a covenant breach under Oxford Loan Agreement. To this situation, Management implemented certain mitigating actions, including the obtention of a waiver from Oxford.

On October 2023, the Company and PIC entered into a convertible loan agreement in the total amount of up to USD 30 million (EUR 28,332k).

As mentioned in Note 21, Management identified the risk of repayment the Convertible Loan amount as maturity date was April 26, 2024. As disclosed in Note 29, as of May 12, 2024, the Company and “PIC” signed a new amendment to the Convertible Loan agreement in which the maturity date has been changed.

The Group strives to maintain cash and cash equivalents at a level above that of the expected cash outflows for financial liabilities (apart from trade payables) during the next 60 days. As of December 31, 2023, 35.8% of the Group’s interest-bearing liabilities mature in less than one year (2022: 11.6%; 2021: 31.7%) based on the carrying value of borrowings reflected in the financial statements.

In addition to the cash and cash equivalents available as of December 31, 2023, the Group also has access to other sources of funding. As of December 31, 2023, the Group has secured credit lines totaling EUR 3,500k. These bear interest of 4.31% - 4.75% (2022: EUR 3,500k; 4.31% - 4.75%; 2021: EUR 3,500k; 3.75% - 4.75%). EUR nil were utilized as of December 31, 2023 (2022: EUR 3,374k; 2021: EUR 3,310k).

The table below presents the remaining contractual terms of the financial liabilities on the reporting date, including estimated interest payments. The figures are undiscounted gross amounts, including estimated interest payments and interest on undrawn loan funds, but without showing the impact of offsetting.


		Contractually agreed cash flows
						More
Dec 31, 2023	Carrying		Less than	2 to 12	1 to 5	than
in EUR k	amount	Total	2 months	months	years	5 years
Bank overdrafts	—	—	—	—	—	—
Secured bank loans	39,880	57,598	778	3,969	52,851	—
Convertible Loan	25,882	28,936	—	28,936	—	—
Lease liabilities	14,577	16,577	446	2,228	8,452	5,451
Trade payables	5,628	5,628	5,628	—	—	—
	85,967	108,739	6,852	35,133	61,303	5,451


		Contractually agreed cash flows
						More
Dec 31, 2022	Carrying		Less than	2 to 12	1 to 5	than
in EUR k	amount	Total	2 months	months	years	5 years
Bank overdrafts	3,374	3,374	3,374	—	—	—
Secured bank loans	41,312	59,473	678	3,516	55,279	—
Lease liabilities	15,436	17,713	552	2,265	7,967	6,929
Trade payables	6,317	6,317	6,317	—	—	—
	66,439	86,877	10,921	5,781	63,246	6,929


		Contractually agreed cash flows
						More
Dec 31, 2021	Carrying		Less than	2 to 12	1 to 5	than
in EUR k	amount	Total	2 months	months	years	5 years
Bank overdrafts	3,310	3,310	3,310	—	—	—
Secured bank loans	505	505	105	400	—	—
Lease liabilities	18,724	21,777	703	3,337	8,844	8,893
Trade payables	11,252	11,252	11,252	—	—	—
	33,791	36,844	15,370	3,737	8,844	8,893

Reconciliation of liabilities arising from financing activities


			Non-cash changes
				Changes in
in EUR k	Jan 1, 2023	Cash flows	Additions	Non cash transactions	Dec 31, 2023
Non-current financial liabilities	53,176	(6,771)	8,659	(2,785)	52,279
Non-current portion of secured bank loans	40,051	(5,987)	6,423	(607)	39,880
Non-current lease liabilities	13,125	(784)	2,236	(2,178)	12,399
Current financial liabilities	6,946	19,815	1,695	(396)	28,060
Current portion of secured bank loans	1,261	—	—	(1,261)	—
Convertible loan	—	25,500	1,695	(1,313)	25,882
Bank overdrafts	3,374	(3,374)	—	—	—
Current lease liabilities	2,311	(2,311)	—	2,178	2,178
Total	60,122	13,044	10,354	(3,181)	80,340


			Non-cash changes
				Changes in
in EUR k	Jan 1, 2022	Cash flows	Additions	Non cash transactions	Dec 31, 2022
Non-current financial liabilities	15,394	36,631	65	1,086	53,176
Non-current portion of secured bank loans	—	38,965	—	1,086	40,051
Non-current lease liabilities	15,394	(2,334)	65	—	13,125
Current financial liabilities	7,145	(1,518)	1,319	—	6,946
Current portion of secured bank loans	505	(505)	1,261	—	1,261
Bank loans	—	—	—	—	—
Bank overdrafts	3,310	64	—	—	3,374
Current lease liabilities	3,330	(1,077)	58	—	2,311
Total	22,539	35,113	1,384	1,086	60,122

Currency risk

The Group is exposed to currency risk in cases where contracts are concluded in foreign currencies. The vast majority of goods delivered and services the Company provided, including those for international customers, are invoiced in EUR.

The main functional currencies of group companies are the EUR, USD, SAR, the Indian rupee and the United Arab Emirates Dirham. The following table presents the net foreign currency exposure of the Group as of December 31, 2023, 2022 and 2021.


	Dec 31, 2023
in EUR k	USD	INR	AED	SAR
Trade receivables	1,283	—	—	—
Trade payables and other liabilities	(3,185)	—	—	—
Net exposure	(1,902)	—	—	—


	Dec 31, 2022

in EUR k	USD	INR	AED	SAR
Trade receivables	3,720	8	—	—
Trade payables and other liabilities	(2,701)	—	—	—
Net exposure	1,019	8	—	—


	Dec 31, 2021

in EUR k	USD	INR	AED	SAR
Trade receivables	2,604	8	—	—
Trade payables and other liabilities	(2,394)	(4)	—	—
Net exposure	210	4	—	—

Sensitivity analysis relating to changes in exchange rates

The following tables demonstrate the sensitivity at the end of the reporting period to a reasonably possible change in the USD exchange rates, with all other variables held constant, of the Group’s earnings before tax and equity movement. The Group’s exposure to foreign currency risk for all other currencies is not material.


	Earnings before tax		Equity
in EUR k	5% increase	5% decrease	5% increase	5% decrease
December 31, 2023	31	(34)	31	(34)
December 31, 2022	(94)	104	(94)	104

Interest rate risk

Interest bearing liabilities with floating interest rates exist for non-current loans as of December 31, 2023.

The following sensitivity analyses has been determined based on the exposure to interest rates at the reporting date. For the floating rate liabilities, the analysis is prepared assuming the amount of liability outstanding at the reporting date was outstanding for the whole period. In accordance with the relevant loan agreement, the interest rate cannot be lower than the determined interest rate and therefore the analysis has only been performed for the scenario where interest rate increases.

If interest rates had been 1.0 percentage points higher and all other variables were held constant, the Group’s earning before tax would decrease by EUR 422k for the twelve months ended December 31, 2023 (December 31, 2022: EUR 1,160k).

Non-controlling interests (Tables)

12 Months Ended

Dec. 31, 2023

Non-controlling interests.

Schedule of information related to each subsidiary of the Group with material, non-controlling interests before intercompany eliminations


Dec 31, 2021	Centogene GmbH, Vienna	Dr. Bauer Laboratoriums GmbH
in EUR k
Net assets/(liabilities)	(528)	245
Carrying amount of non‑controlling interests	(53)	—
Revenue	—	109,015
Profit/(loss)	(6)	98
Profit/(loss) allocated to non‑controlling interests	(1)	98

Equity (Tables)

12 Months Ended

Dec. 31, 2023

Equity.

Common shares issued and authorized


in thousands of shares	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Common shares as of Jan 1, fully paid	27,596	22,568	22,118
Issued shares	—	4,998	—
Exercise of options	1,404	30	450
Common shares issued as of Dec 31, fully paid	29,000	27,596	22,568



in thousands of shares	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Authorized common shares of EUR 0.12 each	79,000	79,000	79,000

Property, plant and equipment

12 Months Ended

Dec. 31, 2023

Property, plant and equipment

Property, plant and equipment

13 Property, plant and equipment

Please refer to the following table for the development from January 1, 2021 to December 31, 2023:


			Other
			equipment,
			furniture
in EUR k	Buildings	Plant	and fixtures	Total

As of Jan 1, 2021	3,359	14,124	12,590	30,073
Additions	5	144	2,766	2,915
Disposal*	—	(379)	(718)	(1,097)
Transfers from right-of-use assets***	—	1,165	—	1,165
As of Dec 31, 2021	3,364	15,054	14,638	33,056
Additions	—	24	504	528
Disposal**	—	(66)	(3,021)	(3,087)
Currency translation differences	3	11	20	34
Transfers from right-of-use assets***	—	2,628	—	2,628
As of Dec 31, 2022	3,367	17,651	12,141	33,159
Additions	—	—	40	40
Disposal	—	(290)	(61)	(351)
Currency translation differences	(2)	(5)	(12)	(19)
Transfers from right-of-use assets***	—	3,639	—	3,639
As of Dec 31, 2023	3,365	20,995	12,108	36,468


Accumulated depreciation and impairment
As of Jan 1, 2021	586	8,255	4,642	13,483
Depreciation	315	3,268	6,407	9,990
Disposal*	—	(157)	(217)	(374)
Transfers from right-of-use assets***	—	493	—	493
As of Dec 31, 2021	901	11,859	10,832	23,592
Depreciation	241	1,568	2,166	3,975
Disposal**	—	(67)	(2,918)	(2,985)
Currency translation differences	2	12	26	40
Transfers from right-of-use assets***	—	1,729	—	1,729
As of Dec 31, 2022	1,144	15,101	10,106	26,351
Depreciation	235	1,865	778	2,878
Disposal	—	148	(536)	(388)
Currency translation differences	—	(5)	(7)	(12)
Transfers from right-of-use assets***	—	1,996	—	1,996
As of Dec 31, 2023	1,379	19,105	10,341	30,825

Carrying amounts
As of Dec 31, 2021	2,463	3,195	3,806	9,464
As of Dec 31, 2022	2,223	2,550	2,035	6,808
As of Dec 31, 2023	1,986	1,890	1,767	5,643

* The disposal relates to the sale of a CentoTruck as part of a contract with a COVID-19 customer.

** The disposal relates to various obsolete plant and machinery equipment mainly in relation to the ramp down of the COVID-19 business segment.

*** The transfers from right-of-use assets represents assets purchased at the end of the lease.

At the end of the third quarter of 2021, management updated its long-term outlook for the COVID-19 testing business, which led to management’s decision to discontinue the COVID-19 business (see Note 9). As part of the wind down, estimated useful lives of all

COVID-19 related tangible assets were accelerated. As of March 31, 2022, there were no operations and no active leases on any of the testing sites. In addition, all COVID-19 related tangible assets have been fully depreciated.

Cash and short-term deposits

12 Months Ended

Dec. 31, 2023

Cash and short-term deposits

Cash and short-term deposits

18 Cash and short-term deposits

As of December 31, 2023, cash and cash equivalents amounted to EUR 19,099k (2022: EUR 35,951k) from which the Group has pledged its short-term deposits with carrying amount of EUR 425k (2022: EUR 443k) and EUR nil (2022: EUR 2,500k) respectively, to fulfil collateral requirements in respect of existing deposit for leasing contract and overdraft facility up to EUR 500k. In addition, the Group has pledged its short-term deposits of EUR 500k (2022: EUR 1,000k) related to one other overdraft facility.

Contingent liabilities

12 Months Ended

Dec. 31, 2023

Contingent liabilities

Contingent liabilities

28 Contingent liabilities

Contingent Liabilities

In May 2016, the Company was informed in writing by the Universitair Medisch Centrum Utrecht ("UMCU") that a claim had been initiated against UMCU regarding a prenatal diagnostic test that the Company conducted at their request which failed to identify a specific mutation present in a patient.

By order of the court dated October 13, 2021, a Professor was appointed as the expert witness. The court asked the expert witness to prepare its expert report latest by January 5, 2022. With its letter to the court dated October 25, 2021, the expert witness rejected the appointment due to the possibility of bias. Since then, several potential experts were approached by the court but eventually declined to prepare an expert witness report due to the possibility of bias. Eventually an expert witness was assigned to prepare the expert witness report and delivered it to the court July 4, 2022. The report is favorable for Centogene and the ruling was made available on February 2, 2024. It states that the claim is dismissed, and that the claimants shall bear the costs with equal shares. The judgement may be provisionally enforced against security amounting to 110% of the amount to be enforced. The amount in dispute was set at EUR 1.3 million. The claimants do have the chance to appeal the verdict.

Property, plant and equipment (Details) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Property, plant and equipment
Balance, at the beginning of the year	€ 6,808	€ 9,464
Balance, at the end of the year	5,643	6,808	€ 9,464
Buildings
Property, plant and equipment
Balance, at the beginning of the year	2,223	2,463
Balance, at the end of the year	1,986	2,223	2,463
Plant
Property, plant and equipment
Balance, at the beginning of the year	2,550	3,195
Balance, at the end of the year	1,890	2,550	3,195
Other equipment, furniture and fixtures
Property, plant and equipment
Balance, at the beginning of the year	2,035	3,806
Balance, at the end of the year	1,767	2,035	3,806
Cost
Property, plant and equipment
Balance, at the beginning of the year	33,159	33,056	30,073
Additions	40	528	2,915
Disposal	(351)	(3,087)	(1,097)
Currency translation differences	(19)	34
Transfers from right-of-use assets	3,639	2,628	1,165
Balance, at the end of the year	36,468	33,159	33,056
Cost \| Buildings
Property, plant and equipment
Balance, at the beginning of the year	3,367	3,364	3,359
Additions			5
Currency translation differences	(2)	3
Balance, at the end of the year	3,365	3,367	3,364
Cost \| Plant
Property, plant and equipment
Balance, at the beginning of the year	17,651	15,054	14,124
Additions		24	144
Disposal	(290)	(66)	(379)
Currency translation differences	(5)	11
Transfers from right-of-use assets	3,639	2,628	1,165
Balance, at the end of the year	20,995	17,651	15,054
Cost \| Other equipment, furniture and fixtures
Property, plant and equipment
Balance, at the beginning of the year	12,141	14,638	12,590
Additions	40	504	2,766
Disposal	(61)	(3,021)	(718)
Currency translation differences	(12)	20
Balance, at the end of the year	12,108	12,141	14,638
Accumulated depreciation, amortization and impairment
Property, plant and equipment
Balance, at the beginning of the year	(26,351)	(23,592)	(13,483)
Depreciation	2,878	3,975	9,990
Disposal	388	2,985	374
Currency translation differences	(12)	40
Transfers from right-of-use assets	1,996	1,729	493
Balance, at the end of the year	(30,825)	(26,351)	(23,592)
Accumulated depreciation, amortization and impairment \| Buildings
Property, plant and equipment
Balance, at the beginning of the year	(1,144)	(901)	(586)
Depreciation	235	241	315
Currency translation differences		2
Balance, at the end of the year	(1,379)	(1,144)	(901)
Accumulated depreciation, amortization and impairment \| Plant
Property, plant and equipment
Balance, at the beginning of the year	(15,101)	(11,859)	(8,255)
Depreciation	1,865	1,568	3,268
Disposal		67	157
Disposal Depreciation Adjustment	148
Currency translation differences	(5)	12
Transfers from right-of-use assets	1,996	1,729	493
Balance, at the end of the year	(19,105)	(15,101)	(11,859)
Accumulated depreciation, amortization and impairment \| Other equipment, furniture and fixtures
Property, plant and equipment
Balance, at the beginning of the year	(10,106)	(10,832)	(4,642)
Depreciation	778	2,166	6,407
Disposal	536	2,918	217
Currency translation differences	(7)	26
Balance, at the end of the year	€ (10,341)	€ (10,106)	€ (10,832)

Loss Per Share (Details)	12 Months Ended
Loss Per Share (Details)	Dec. 31, 2023 shares	Dec. 31, 2022 shares	Dec. 31, 2021 shares
Loss Per Share
Weighted average number of outstanding shares	28,162,842	26,811,357	22,437,301
Warrants exercisable	1,343,727	1,343,727	0

General company information (Details) € / shares in Units, $ / shares in Units, € in Thousands, $ in Millions				12 Months Ended
	Oct. 30, 2023 USD ($)	Jun. 26, 2023 EUR (€)	Jan. 31, 2022 EUR (€) € / shares shares	Dec. 31, 2023 EUR (€)	Dec. 31, 2022 EUR (€)	Dec. 31, 2021 EUR (€)	Jun. 26, 2023 SAR (ر.س)	Jan. 31, 2022 $ / shares
General company information
Net offering proceeds, after deducting underwriting discounts, commissions and transaction costs			€ 15,000
Number of common shares issued (in shares) \| shares			4,479,088
Share price \| (per share)			€ 3.35					$ 3.73
Investment in Joint Venture				€ 2,784
Cash received from loans				€ 25,500	€ 40,568	€ 1,772
Genomics Innovations Company Limited
General company information
Proportion of ownership interest in joint venture		20.00%		20.00%
Investment in Joint Venture		€ 4,973		€ 2,784			ر.س 20,000,000
Genomics Innovations Company Limited \| Convertible Loan
General company information
Cash received from loans \| $	$ 30
Major ordinary share transactions
General company information
Net offering proceeds, after deducting underwriting discounts, commissions and transaction costs			€ 15,000
Number of common shares issued (in shares) \| shares			4,479,088
Share price \| $ / shares								$ 3.73
Pharmaceutical Investment Company \| Genomics Innovations Company Limited
General company information
Proportion of ownership interest in joint venture		80.00%
Investment in Joint Venture		€ 19,892					ر.س 80,000,000

Financial liabilities - Convertible Loan (Details) $ / shares in Units, € in Thousands			12 Months Ended
	Oct. 26, 2023 EUR (€)	Oct. 26, 2023 USD ($)	Dec. 31, 2023 EUR (€) item	Dec. 31, 2023 USD ($) item	Dec. 31, 2022 EUR (€)	Dec. 31, 2021 EUR (€)	Dec. 31, 2023 USD ($) $ / shares	Oct. 26, 2023 USD ($)
Financial liabilities
Principal amount			€ 82,395		€ 57,825
Borrowings drawdowns			€ 25,500		€ 40,568	€ 1,772
Convertible loan
Financial liabilities
Principal amount	€ 28,300							$ 30,000,000.0
Borrowings drawdowns	€ 28,300	$ 30,000,000.0
Interest rate			12.80%				12.80%
Period for calculating volume			30 days	30 days
Trading days			20 days	20 days
Consecutive trading days			30 days	30 days
Conversion price \| $ / shares							$ 2.2
Percentage of voting power to be acquire			50.00%				50.00%
Percentage of ownership interest			50.00%				50.00%
Original debt, amount \| $				$ 1,000,000
Debt Instrument \| item			15,000,000	15,000,000
Accrued and unpaid interest \| $							$ 2,000,000
Transaction Costs Convertible Shares			€ 3,023
Effective interest rate (as a percent)			43.37%				43.37%

Contingent liabilities (Details) - Universitair Medisch Centrum Utrecht € in Millions	12 Months Ended
	Dec. 31, 2023 EUR (€)
Contingent Liabilities
Amount in dispute	€ 1.3
Percentage of amount enforced against security	110.00%

Share-based payments

12 Months Ended

Dec. 31, 2023

Share-based payments

Share-based payments

22 Share-based payments

As of December 31, 2023 and 2022, the Group had the following share-based payment arrangements.

(i) 2019 Equity Incentive Plan (2019 Plan)

The Company established a long-term incentive plan (the “2019 Plan”) in 2019. The 2019 Plan governs issuances of equity and equity-based incentive awards from and after the consummation of the IPO. Awards under the 2019 Plan may be granted to the employees, the members of management board and supervisory board, consultants or other advisors. As of January 1, 2023 the maximum number of common shares underlying awards that may be granted pursuant to the 2019 Plan (other than replacement awards) will not exceed 25% of the Company’s issued share capital. Such maximum number will be increased on January 1 of each calendar year, by an additional number of common shares equal to 3% of the Company’s issued share capital on such date (or a lower number of common shares as determined by the management board or supervisory board, where appropriate on the basis of a recommendation of the compensation committee (as the case may be, as prescribed by the 2019 Plan and, collectively, the “Committee”)).

In the event of a change in control of the Company (as defined in the 2019 Plan), outstanding awards that will be substituted or exchanged for equivalent replacement awards, in connection with the change in control will be cancelled. Outstanding rewards that are not substituted or exchanged for equivalent replacement awards, in connection with the change in control will immediately vest and settle in full, unless otherwise decided by the Committee.

In November 2022, the Company amended the 2019 plan to include stock grants (SGAs) and restricted stock units (RSUs) and to modify the settlement of the awards. Accordingly, the awards will be delivered as promptly as reasonably practicable following the exercise or settlement of the relevant award, but in no event later than 30 days following such exercise or settlement.

The grants disclosed in the following paragraphs were granted under the 2019 Plan.

(ii) ESOP/ VSOP 2017

During 2019, 805,308 new share options were granted pursuant to the Centogene N.V. 2019 Plan, replacing previously established virtual share option program in 2017 (“ESOP 2017”), with each option representing the right to acquire one common share of Centogene N.V., with an exercise price equal to the nominal value of a share of Centogene N.V., which is EUR 0.12. The options were considered vested upon the completion of the IPO, but were not exercisable in the first 180 days after the IPO (lock-up period).

During 2023, 68,201 options were exercised (2022: 29,509; 2021: 191,565). The weighted average share price at the date of exercise was USD 1.01 (2022: USD 1.25; 2021: USD 9.76).

As of December 31, 2023, there are 259,730 outstanding options under this plan.

The contractual term of the share options as of December 31, 2023 is six years.

The fair values were estimated at the date of grant using the Black-Scholes option pricing model, taking into account the terms and conditions under which the share options were granted. The model takes into account historical and expected dividends, and the share price volatility of other public companies in the relevant industries to predict the share performance. There are no cash settlement alternatives for either the option holders or the Company.

(iii) Equity share option 2019 (ESOP 2019) to Flemming Ornskov

All 300,000 restricted stock units granted to Flemming Ornskov under ESOP 2019 were exercised during 2022 in exchange for share options. The WAEP at the date of exercise in 2022 was USD 1.0.

(iv) 2021 grants to management board and employees

During the year ended December 31, 2021, 167,326 RSUs and 15,000 Options were granted under 2019 Plan.

RSUs do not have any market or performance based vesting criteria and vest in three or four equal annual tranches starting from their grant dates. Each RSU represents a right to receive a payment in cash or shares equal to the value of the RSU on the settlement date. The Company has a choice to settle either in cash, in shares or a combination thereof. In line with the Company´s policy, both types of awards are to be settled in shares.

Options vest in three equal tranches over a three-year period starting on January 1, 2022, and are subject to market based vesting conditions. These options will vest only if the 20-trading day volume-weighted average stock price of the Company’s shares preceding the vesting date of each tranche exceeds the exercise price of USD 12.52. Therefore, expenses would not be reversed, if the tranches do not ultimately vest. All grants expire on the 10th anniversary of grant date.

During 2023, additional 15,734 RSUs have been exercised. The weighted average share price at the date of exercise was USD 1.15. As of December 31, 2023, there are 17,676 outstanding RSUs and 15,152 options under this plan.

(v) 2022 grants to employees

During the year ended December 31, 2022, 425,093 Stock Grants Awards (“SGAs”) were granted under 2019 Plan, to the employees.

SGAs do not have any market or performance based vesting criteria and vest in three or four equal annual tranches starting from their grant dates. Each SGA represents a right to receive a payment in cash or shares equal to the value of the SGA on the settlement date. The Company has a choice to settle either in cash, in shares or a combination thereof. In line with this policy, both types of awards are to be settled in shares.

As of December 31, 2023, there are 209,017 outstanding SGAs under this plan.

(vi) 2022 grants to CEO and CFO

On February 1, 2022, Kim Stratton (the “CEO”) was awarded 174,394 initial performance RSUs subject to time-vesting and performance-vesting (“Performance-vested RSUs”), 166,667 initial time-vested RSUs subject to only time-vesting (“Time-vested RSUs”), and a number of RSUs equal to CHF 200,000 divided by the VWAP calculated as of the date of grant and 44,444 annual RSUs (together, “Annual RSUs”). All RSUs have a maturity of 10 years, are settled with ordinary shares and have no exercise price. In case of a termination of the service agreement by the CEO, all unvested RSUs will be forfeited to the extent they have remained unvested following the expiration of a 12-month period after termination. On May 27, 2022, Miguel Coego Ríos, (the “CFO”) was awarded 58,132 initial Performance-vested RSUs and 55,556 initial Time-vested RSUs. All RSUs have a maturity of 10 years, are settled with ordinary shares and have no exercise price.

On June 12, 2023, the Company, the CEO and the CFO agreed upon certain amendments to the RSU agreements (“Amendment Agreement”). The Initial RSUs granted to the CEO and CFO in 2022 were replaced and additional RSUs were awarded, so that a total of 1,052,227 new RSUs were awarded to the CEO and a total of 443,628 new RSUs were awarded to the CFO. The New RSUs are only subject to time-vesting.

The New RSUs will vest over three years in four equal installments following the June 12, 2023 for the CEO and after June 12, 2023 for the CFO. The first installment of the New RSUs is vested upon the execution of the Amendment Agreement. If New RSUs are exercised before December 31, 2025, each exercised RSU is limited to an amount of USD 7.

Furthermore, under the previous award agreement the CEO and CFO were entitled to receive Annual RSUs and M&A RSUs, in the event of a Change of Control (“CoC”). As part of the amendment, the Company, the CEO and the CFO agreed that the Annual RSUs and M&A RSUs are cancelled. Instead, both parties agreed that in case of the occurrence of a Change of Control (“CoC”), depending on the CoC-event (e.g., Sale, IPO), all awarded New RSUs will immediately vest such that a portion of 50% - 100% shall be immediately fully vested, if the service agreement is not terminated prior the CoC event. Any remaining unvested New RSUs will thereafter continue to vest in accordance with the Amendment Agreement. However, as those vesting conditions are only applicable if there is an occurrence of a change of control, which is not deemed probable by management in the foreseeable future, the Group did not account according to those conditions.

The replacement of the RSUs is accounted for as a modification under IFRS 2. The Initial RSUs are modified in a way that is not beneficial to the CEO, so, the incremental fair value of the modified Initial RSUs at the date of the modification was determined to be USD nil, so that the expense for the Initial RSUs will continue to be recognized as if the terms had not been modified.
However, the Initial RSUs are modified in a way that is beneficial to CFO, so, the incremental fair value of the modified Initial RSUs at the date of the modification was determined to be USD 20k that was recognized as an expense.

In addition to the above-described changes, the Company granted a Capital Raise Bonus to the CEO and CFO. The CEO and the CFO are entitled to a one-time cash bonus in an amount of USD 375k and USD 150k, respectively, if the Capital Raise is at least EUR 10,000k and the services agreement has not terminated prior or upon the execution of a binding agreement. The Bonus can be increased with an amount equal to 1.50% of such excess amount, provided further that the Capital Raise Bonus shall never exceed USD 300k (gross) for the CFO and USD 750k (gross) for the CEO, if the Capital Raise exceeds EUR 10,000k. The Capital Raise Bonus can be increased up to an amount of USD 300k, if the Capital Raise exceeds EUR 10,000k.

On June 26, 2023, the Company entered into a Joint Venture Agreement with Pharmaceutical Investment Company (“PIC”), and signed a Convertible Loan Agreement on October 26, 2023. According to those facts and circumstances the scenario of a Capital Raise as defined in the Amendment Agreement happened, therefore, the Company awarded a Capital Raise Bonus in the amount of EUR 997k. As of December 31, 2023, this amount has been fully paid and considered as transaction cost that was deducted from the convertible loan signed on October 26, 2023 (see Note 21).

(vii) 2023 grants to management board and employees

In addition to the new RSUs to the CEO and CFO as noted in 22 (vi) above, during the year ended December 31, 2023, 908,192 SGAs were granted under this Plan. SGAs do not have any market or performance based vesting criteria and vest in three or four equal annual tranches starting from their grant dates. Each SGA represents a right to receive a payment in shares equal to the value of the SGA on the settlement date. All grants expire on the 10th anniversary of the grant date.


	Number of awards
Outstanding as of January 1, 2023	-
Granted during the year 2023	908,192
Forfeited during the year 2023	(139,790)
Exercised during the year 2023	-
Outstanding as of December 31, 2023	768,402
Vested as of December 31, 2023	-
Exercisable as of December 31, 2023	-

During 2023, no SGAs have been exercised.

(viii) Other grants to management board, employees or other parties

During the year ended December 31, 2023, 224,414 SGAs were granted to employees. SGAs do not have any market or performance based vesting criteria and vest in one tranche starting from their grant dates. Each SGA represents a right to receive a payment in shares equal to the value of the SGA on the settlement date.

From the amount described above, 8,392 SGAs have been forfeited and 144,184 SGAs have been exercised during 2023. The weighted average share price at the date of exercise was USD 1.14. As of December 31, 2023, there are 68,838 outstanding SGAs which will vest during the first quarter 2024.

In addition, as a consequence of the completion of the Convertible Loan Agreement (Note 23), the Company granted 400,000 SGAs to a third party involved in the transaction. As mentioned in Note 7.1, from the total amount related to this grant, EUR 202k was capitalized into convertible loan agreement as it was considered as a transaction cost. These SGAs vested in one tranche upon signing the final agreement and were exercised on December 21, 2023 at USD 1.14.

The expense recognized for the above share-based payment transactions during the year is shown in the following table:


in EUR k	2023	2022	2021
Expenses arising from equity-settled share-based payment transactions
- ESOP 2019, including replacement by RSUs	653	2,376	7,000
- Grants to management board and employees	2,205	852	985
- Supervisory board grant	—	—	50
- Grants to other parties	258	—	—
- Reversals	(187)	(3,244)	—
Total expenses arising from share‑based payment transactions	2,929	(16)	8,035

Basis of preparation (Details) € in Thousands, $ in Thousands								12 Months Ended
	May 12, 2024 EUR (€) tranche shares	May 12, 2024 SAR (ر.س) shares	Dec. 27, 2023 EUR (€)	Dec. 27, 2023 SAR (ر.س)	Oct. 30, 2023 EUR (€)	Oct. 30, 2023 USD ($)	Jun. 26, 2023 EUR (€)	Dec. 31, 2023 EUR (€)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 EUR (€)	Dec. 31, 2021 EUR (€)	May 12, 2024 USD ($) tranche	Dec. 31, 2023 USD ($)	Oct. 31, 2023 EUR (€)	Oct. 31, 2023 USD ($)	Jun. 26, 2023 SAR (ر.س)	Dec. 31, 2020 EUR (€)
Disclosure of changes in accounting estimates [line items]
Comprehensive loss								€ 35,803		€ 31,917	€ 45,703
Loss before taxes								(35,245)		(38,596)	(57,422)
Loss of operations resulting in operating cash outflow								(31,749)		(26,488)	(21,739)
Accumulated deficit								(177,100)
Equity								(25,282)		7,411	27,258						€ 64,926
Principal amount								82,395		57,825
Invested amount								4,973
Cash and cash equivalents								19,099		35,951	17,818						€ 48,156
Short term debt obligation								28,000
Investment in Joint Venture								2,784
Cash received from loans								€ 25,500		€ 40,568	€ 1,772
Convert period	10 days	10 days
Convertible Loan
Disclosure of changes in accounting estimates [line items]
Principal amount \| $													$ 27,127
Genomics Innovations Company Limited
Disclosure of changes in accounting estimates [line items]
Invested amount \| $									$ 5,000
Founding capital (in percent)							20.00%	20.00%	20.00%
Received cash inflows			€ 9,400	ر.س 40,000,000
Proportion of ownership interest in joint venture							20.00%	20.00%	20.00%
Investment in Joint Venture							€ 4,973	€ 2,784								ر.س 20,000,000
Genomics Innovations Company Limited \| Convertible Loan
Disclosure of changes in accounting estimates [line items]
Cash received from loans \| $						$ 30,000
Genomics Innovations Company Limited \| Pharmaceutical Investment Company
Disclosure of changes in accounting estimates [line items]
Founding capital (in percent)							80.00%
Proportion of ownership interest in joint venture							80.00%
Investment in Joint Venture							€ 19,892									ر.س 80,000,000
Convertible Loan Agreement with Lifera
Disclosure of changes in accounting estimates [line items]
Principal amount													$ 30,000	€ 28,332	$ 30,000
Loan term								6 months	6 months
Cash received from loans					€ 28,300	$ 30,000
Receivable Transfer Agreement \| Pharmaceutical Investment Company
Disclosure of changes in accounting estimates [line items]
Aggregate purchase price	€ 13,900											$ 15,000
Number of tranches \| tranche	3											3
Purchase price in each tranche \| $												$ 5,000
Sale of Interest in Joint Venture \| Genomics Innovations Company Limited \| Pharmaceutical Investment Company
Disclosure of changes in accounting estimates [line items]
Founding capital (in percent)	4.00%	4.00%
Shares sells	16.00%	16.00%
Cash	€ 4,900	ر.س 20,000,000.0
Proportion of ownership interest in joint venture	4.00%	4.00%
Number of shares agreed to sell under the joint venture \| shares	16,000	16,000
Second loan amendment
Disclosure of changes in accounting estimates [line items]
Second conversion of the aggregate principal amount \| $												15,000
Second loan amendment \| Amended convertible loan agreement with Lifera
Disclosure of changes in accounting estimates [line items]
Conversion of the aggregate principal amount \| $												15,000
Second conversion of the aggregate principal amount \| $												$ 15,000
Convert period	10 days	10 days

Equity - Capital reserve (Details) € / shares in Units, $ / shares in Units, € in Thousands, $ in Millions	Jan. 31, 2022 EUR (€) € / shares shares	Jan. 31, 2022 USD ($) shares	Dec. 31, 2023 EUR (€)	Dec. 31, 2022 EUR (€)	Jan. 31, 2022 $ / shares	Dec. 31, 2021 EUR (€)
Net offering proceeds, after deducting underwriting discounts, commissions and transaction costs	€ 15,000
Number of common shares issued (in shares) \| shares	4,479,088	4,479,088
Share price \| (per share)	€ 3.35				$ 3.73
Number of securities called by warrants \| shares	1,343,727
Exercise price of warrants \| $ / shares					$ 7.72
Capital Reserve			€ 148,308	€ 145,369
Warrants Issue Related Cost	€ 2,800
Transaction costs paid	110
Value of other equity instruments granted under share based payment arrangement	2,800	$ 3.2
Capital reserve
Share premium included in capital reserve			€ 120,847	€ 121,018		€ 106,665
Capital reserve from issuance of shares after transaction costs
Capital Reserve	14,300
Capital reserve from issuance of shares and warrants after transaction costs
Capital Reserve	€ 11,500

Other income and expenses - Employee benefits expense (Details) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Other income and expenses
Wages and salaries	€ 28,192	€ 29,690	€ 32,655
Social security contributions	4,499	4,415	4,588
Share-based payments	2,158	(1,461)	5,471
Termination benefits	812	319	1,158
Total	35,661	32,963	43,872
Contributions to state pension scheme (defined contribution plan)	1,745	1,790	2,706
Gain on reversal of share based payment		3,104
Supervisory board members
Other income and expenses
Share-based payments	741	1,446	2,564
Termination benefits	€ 864	€ 1,631	€ 3,252

Financial liabilities - Interest-bearing liabilities (Details) - EUR (€) € in Thousands	Dec. 31, 2023	Dec. 31, 2022
Financial liabilities
Total non-current liabilities	€ 52,279	€ 53,176
Total current liabilities	28,060	6,946
Total non-current and current liabilities	80,339	60,122
Total loans
Financial liabilities
Total non-current liabilities	39,880	40,051
Total current liabilities	25,882	4,635
Secured bank loans
Financial liabilities
Total non-current liabilities	39,880	40,051
Total current liabilities		1,261
Convertible loan
Financial liabilities
Total current liabilities	25,882
Bank overdrafts
Financial liabilities
Total current liabilities		3,374
Lease liabilities
Financial liabilities
Total non-current liabilities	12,399	13,125
Total current liabilities	2,178	2,311
Total non-current and current liabilities	14,577	15,436
Short term deposits pledged as security	€ 425	€ 443

Other income and expenses - Financial costs, net (Details) - EUR (€)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Other Income Expense Line Items
Interest expenses from loans	€ (7,622,000)	€ (2,934,000)	€ (218,000)
Currency gains (loss)	(1,111)	0	0
Changes in FV of warrants	(159,000)	2,574,000
Changes in FV of floor	134,000	(376,000)
Changes in FV of prepayment option	288,000	510,000
Currency income/(loss)	2,445,000	(963,000)
Unwinding of the discount on lease liabilities	(579,000)	(637,000)	(584,000)
Interest income from loans and receivables	209,000	3,000	3,000
Total Financial costs, net	(5,284,000)	(1,823,000)	(799,000)
Convertible Loan
Other Income Expense Line Items
Interest expenses from loans	(1,656,000)	0	0
Loan Agreement with Oxford Finance LLC
Other Income Expense Line Items
Interest expenses from loans	(5,881,000)	(2,806,000)	0
Currency gains (loss)	1,408,000	(963,000)	0
Changes in FV of floor	134,000	376,000	0
Changes in FV of prepayment option	€ 288,000	€ 510,000	€ 0

Intangible assets

12 Months Ended

Dec. 31, 2023

Intangible assets

Intangible assets

Assets

12 Intangible assets

Reconciliation of carrying amounts


	Internally
	generated	Internally	Purchased rights,
	/acquired	developed	licenses,
in EUR k	biomarkers	databases	software	Total
Cost
As of Jan 1, 2021	13,922	9,219	4,899	28,040
Additions	749	1,652	386	2,787
Reclassification	(297)	297	—	—
As of Dec 31, 2021	14,374	11,168	5,285	30,827
Additions	162	1,515	50	1,727
Reclassification	—	—	—	—
As of Dec 31, 2022	14,536	12,683	5,335	32,554
Additions	182	—	2,057	2,239
Reclassification	—	(1,516)	1,516	—
As of Dec 31, 2023	14,718	11,167	8,908	34,793

Accumulated amortization and impairment
As of Jan 1, 2021	10,748	2,713	2,172	15,633
Amortization and impairment	2,149	1,991	1,860	6,000
Reclassification	(68)	68	—	—
As of Dec 31, 2021	12,829	4,772	4,032	21,633
Amortization and impairment	801	1,845	875	3,521
Reclassification	—	—	—	—
As of Dec 31, 2022	13,630	6,617	4,907	25,154
Amortization and impairment	766	1,408	615	2,789
Reclassification	—	—	—	—
As of Dec 31, 2023	14,396	8,025	5,522	27,943

Carrying amounts
As of Dec 31, 2021	1,545	6,396	1,253	9,194
As of Dec 31, 2022	906	6,066	428	7,400
As of Dec 31, 2023	322	3,142	3,386	6,850

Development costs and amortization

Internally generated intangible assets include capitalized development costs for biomarkers and IT driven solutions such as the new ERP system (see notes 5 and 6 regarding measurement). The asset category “Internally developed databases” contains the

Centometabolome, an Artificial Intelligence module created to accelerate biomarker developments. The carrying amount of this asset as of December 31, 2023, is EUR 1,818k (2022: EUR 2,181k; 2021: EUR 2,540k), and the remaining useful life as of December 31, 2023 is five years.

The amortization of patents, trademarks and development costs is expensed and recorded under “cost of sales” to the extent the related intangible assets are used in generating revenue and recorded in research and development expenses to the extent the related intangible assets are used for R&D purposes.

Certain identified biomarkers and internally developed databases were impaired because the probable future economic benefits related to these assets were not sufficient to cover the carrying value of each asset. The impairment is expensed under cost of sales and included in amortization and impairment expense in the Pharmaceutical segment. The amount of the impairment expenses recognized as of December 31, 2023, is EUR 446k (2022: EUR 158k; 2021: EUR 1,067k).

Significant accounting policies (Tables)

12 Months Ended

Dec. 31, 2023

Significant accounting policies

Schedule of exchange rates used


	Average rate			Closing rate
				Dec 31,	Dec 31,	Dec 31,
	2023	2022	2021	2023	2022	2021
USD (EUR 1)	1.09	1.05	1.13	1.11	1.07	1.13
AED (EUR 1)	4.00	3.87	4.15	4.06	3.94	4.17
INR (EUR 1)	89.30	82.69	85.18	91.98	88.17	84.23
CHF (EUR 1)	0.94	1.00	1.08	0.93	0.98	1.03
SAR (EUR 1)	4.13	—	—	4.14	—	—
RSD (EUR 1)	116.91	117.46	117.39	116.91	117.33	117.27

Consolidated statements of financial position - EUR (€) € in Thousands	Dec. 31, 2023	Dec. 31, 2022
Noncurrent assets
Intangible assets	€ 6,850	€ 7,400
Property, plant and equipment	5,643	6,808
Right-of-use assets	13,635	15,351
Investment in Joint Venture	2,784
Derivative assets	799	510
Other assets	3,425	2,911
Non-current assets	33,136	32,980
Current assets
Inventories	2,463	1,819
Trade receivables and contract assets	19,415	16,548
Other assets	3,042	5,514
Cash and cash equivalents	19,099	35,951
Current assets	44,019	59,832
Assets	77,155	92,812
Equity
Issued capital	3,478	3,307
Capital reserve	148,308	145,369
Accumulated deficit and other reserves	(177,068)	(141,265)
Noncontrolling interests	0
Equity	(25,282)	7,411
Noncurrent liabilities
Noncurrent loans	39,880	40,051
Lease liabilities	12,399	13,125
Deferred tax liabilities	407	35
Government grants	5,701	6,687
Derivative liabilities	242	376
Warrant liability	394	260
Other liabilities	48	202
Non-current liabilities	59,071	60,736
Current liabilities
Government grants	984	1,263
Current loans	25,882	4,635
Lease liabilities	2,178	2,311
Liabilities from income taxes	87	89
Trade payables	5,628	6,317
Other liabilities	8,607	10,050
Current liabilities	43,366	24,665
Equity and liabilities	€ 77,155	€ 92,812

Basis of preparation

12 Months Ended

Dec. 31, 2023

Basis of preparation

Basis of preparation

2 Basis of preparation

Unless otherwise specified, “the Company” refers to Centogene N.V. and Centogene GmbH throughout the remainder of these notes, while “the Group” refers to Centogene N.V., Centogene GmbH and its subsidiaries.

The consolidated financial statements of the Group were prepared in accordance with International Financial Reporting Standards (“IFRS”) as issued by the International Accounting Standards Board (the “IASB”). The accounting policies used in the fiscal year 2023 generally correspond to the policies applied in the prior year.

These consolidated financial statements are presented in EURO, which is the Group’s functional currency. Unless otherwise specified, all financial information presented in EURO is rounded to the nearest thousand (EUR k) in line with customary commercial practice.

2.1New significant accounting policies and accounting judgments and estimates

Investment in Joint Venture

percentage of ownership, board reserves matter and resolutions), and concluded this should be accounted under the equity method (Note 5 (h)).

2.2 Going Concern

As an early commercial-stage company, the Group is still in progress towards reaching break-even in its diagnostic and pharmaceutical businesses. The Group and Company are subject to a number of risks similar to those of other development and early commercial stage companies. These risks include, among other things, the failure to enter into and successfully execute further collaborations with pharmaceutical partners and the failure to generate sufficient revenue from the Company’s development portfolio.

The Group´s ongoing success and ultimately the attainment of profitable operations depends on future uncertain events which include, among other things, obtaining adequate financing to promote commercial and development activities until the Group can generate sufficient revenues to support its operating cash requirements. The Group has incurred operating losses since inception. For the year ended December 31, 2023, the Group incurred a net comprehensive loss of EUR 35.8 million, resulting in the net cash outflows from operating activities of EUR 31.7 million. As of December 31, 2023, the Group had generated an accumulated deficit of EUR 177.1 million and had an equity position of EUR (25.3) million.

During 2023, management obtained a significant financing through a convertible loan. In parallel, management is in discussions with several private equity parties aiming to secure a significant capital injection. These parties are also a suitable strategic fit for the Company. The Company entered into a joint venture agreement (the “Joint Venture Agreement”) dated June 26, 2023, with Pharmaceutical Investment Company (“PIC” or “Lifera”), a closed joint stock company incorporated pursuant to the laws of Saudi Arabia and a wholly-owned subsidiary of the Public Investment Fund (PIF) based in Riyadh, to form a joint venture under the laws of Saudi Arabia. Pursuant to the Joint Venture Agreement, and subject to the terms and conditions contained therein, the Company and PIC have established a limited liability company in Saudi Arabia (the “JV”). In connection with the Joint Venture Agreement, Lifera and the Company have entered into a convertible loan agreement (the “Loan Agreement”), pursuant to which Lifera has loaned the Company USD 30.0 million (the “Principal Amount”). The Loan Agreement was signed on October 26, 2023. On October 30, 2023, the Company received the cash of USD 30.0 million (EUR 28.3 million). The loan originally had a term of six months and was originally scheduled to automatically convert into equity on the maturity date which was April 26, 2024. The conversion of the loan to equity requires the approval of the Committee on Foreign Investment in the United States (“CFIUS”), which is pending. Both companies have finalized the incorporation of the JV on November 19, 2023 and related ancillary agreements signed November 27, 2023 – refer to Note 21.1. The Company invested USD 5.0 million on the JV owning 20% of the shareholding of the company. The Company received cash inflows of SAR 40 million (EUR 9.4 million) on December 27, 2023, linked to the transfer of data from the Biodatabank relating to information from the region of the Kingdom of Saudi Arabia (Note 15).

On May 12, 2024, the Company completed an account receivables sale (the “PIC AR Sale”) with PIC. The terms of the PIC AR Sale are set forth in the KSA Receivables Transfer Agreement, which became effective as of May 12, 2024 (the “KSA Receivables Transfer Agreement”), and the accompanying Variation Agreement (the “KSA Receivables Variation Agreement,” and together with the KSA Receivables Transfer Agreement, the “Receivables Agreement”) between the Company, and PIC dated as of May 12, 2024. Pursuant to the Receivables Agreement, PIC agreed to purchase rights to certain of Centogene’s accounts receivable in the region of the Kingdom of Saudi Arabia (each, a “KSA Receivable”) for an aggregate purchase price of USD 15.0 million (EUR 13.9 million) (the “AR Purchase Price”). The AR Purchase Price is payable by PIC in three tranches of USD 5.0 million (each, a “Tranche Payment”), with the first Tranche Payment having been paid on May 13, 2024 and the remaining two Tranche Payments to be paid on or about May 31, 2024 and June 30, 2024 (or, in each case, such other date agreed upon by the parties), subject to the satisfaction by the Company of certain conditions precedent set forth in the Receivables Agreement including achievement of business plan targets.

In order to close the transactions mentioned above, we obtained Oxford’s consent on May 12, 2024, which included the addition of certain covenants in our Oxford Loan and Security Agreement. Specifically, we agreed to certain near-term timing requirements for the entry into a binding definitive agreement for the sale of the Company by July 15, 2024 and by June 15, 2024 with respect to the receipt of nonbinding term sheets relating to a sale. A breach of these timing requirements would constitute an event of default under the Oxford Loan and Security Agreement, unless waived by Oxford, which might require us to open insolvency proceedings if Oxford demands the repayment of the loan at short notice and no other financing can be secured. This covenant is consistent with the process management announced in February 2024 to explore strategic alternatives, where we engaged an investment banking firm to advise us in connection with this process. We are currently in active discussions with several interested parties, which could result in a near term transaction by July 15, 2024.

Considering cash and cash equivalents of EUR 19.1 million and short-term interest-bearing debt obligation of EUR 28.0 million (including convertible loan) as of December 31, 2023, the Group has prepared cash flow forecasts and considered the cash flow requirement for the Company, for at least the twelve-month period following the date of the approval of these consolidated financial statements. Management’s cash flow projections include estimates for the net cash flows expected to be received from the sale of receivables and modifications to the convertible loan mentioned above, together with the Share Purchase Agreement, as well as its liquidity needs for the next twelve-months in accordance with the business plan.

Management have considered the uncertainties described in Note 6.2 when preparing the business plan and the cash flow forecast for the purpose of our going concern assessment.

While management is pursuing avenues to ensure we have sufficient liquidity and resources to maintain operations, if the Company is unable to obtain such funding, achievement of revenue growth and cost containment,, our current cash and cash equivalents will not be sufficient to fund our operations and meet all of our obligations as they fall due for at least one year from the date of the issuance of the consolidated financial statements, which results in a material uncertainty that raises significant doubt about our ability to continue as a going concern. We do not know whether additional funding will be available in the desired amount, at the desired time, or on acceptable terms, or at all.

The accompanying consolidated financial statements for the year ended December 31, 2023, have been therefore prepared on a going concern basis. This contemplates the Group will continue in operation for the foreseeable future and will be able to realize its assets and discharge its liabilities in the normal course of operations. The consolidated financial statements do not reflect any adjustments relating to the recoverability and classification of assets or the amounts and classification of liabilities that would be necessary, should the Group be unable to continue as a going concern.

2.3Geopolitical Conditions and COVID-19 Pandemic

Worldwide economic and political disruptions as a result the conflicts between Russia and Ukraine as well as in the Middle East, and the effects of COVID-19 have resulted and is expected to further result in interruptions to business operations and supply chain disruption, affecting raw material and or intermediate supply or manufacturing capabilities.

Until today, the impact of geopolitical conditions has not been significant to the Group’s operations. However, economic growth is expected to slow, including due to the recent surge in inflation and related actions by central banks, with a significant risk of recession in many parts of the world in the near term. This may also prolong tight credit markets and potentially cause such conditions to become more severe. These issues, along with the re-pricing of credit risk and the difficulties currently experienced by financial institutions, may make it difficult to obtain financing. Additionally, the Group may be affected by price increases or certain fiscal

policy changes in Germany, such as new tax legislation, economic sanctions, and comparable measures, although at this point, management does not foresee any such macroeconomic changes.

COVID-19 vaccines being widely available, management updated its long-term outlook for the COVID-19 testing business at the end of the third quarter of 2021 and decided to wind-down all COVID-19 business related operations. Consequently, all COVID-19 testing site contracts expired, all COVID-19 operations at testing sites had ceased and the COVID-19 testing business was discontinued as of March 31, 2022. For Diagnostics and Pharmaceutical businesses, management expects that the impact of the pandemic would be minimal to none for the foreseeable future.

Loss Per Share

12 Months Ended

Dec. 31, 2023

Loss Per Share

Loss Per Share

11 Loss Per Share

Basic loss per share is calculated by dividing loss for the period attributable to equity holders of the Group by the weighted average number of shares outstanding during the same period. The weighted average number of outstanding shares for the year ended December 31, 2023 was 28,162,842 (2022: 26,811,357; 2021: 22,437,301).

For the periods included in these financial statements, the impact of outstanding share options and warrants are not included in the diluted loss per share calculation as the Company was loss-making in all periods. Due to the anti-dilutive nature of the outstanding share options and warrants, basic and diluted loss per share is equal. The warrants are exercisable for the purchase of up to an aggregate of 1,343,727 additional common shares as of December 31, 2023 (2022: 1,343,727; 2021: nil).

Right-of-use assets - Amounts recognised in profit or loss (Details) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Right-of-use assets.
Depreciation expense of right-of-use assets	€ 1,943	€ 2,882	€ 3,996
Interest expenses on lease liabilities	579	637	584
Rent expenses - short-term leases	175	770	7,175
Rent expense - leases of low-value assets	21	27	48
Total amounts recognized in profit or loss	2,718	4,316	11,803
Total cash outflows for leases	€ 3,095	€ 5,111	€ 11,467

List of subsidiaries (Details)	12 Months Ended
List of subsidiaries (Details)	Dec. 31, 2023	Dec. 31, 2022
Centogene GmbH
List of subsidiaries
Ownership interest in subsidiary (in percent)	100.00%	100.00%
Centogene Fz Llc, United Arab Emirates
List of subsidiaries
Ownership interest in subsidiary (in percent)	100.00%	100.00%
Centogene US LLC, Burlington, USA
List of subsidiaries
Ownership interest in subsidiary (in percent)	100.00%	100.00%
Centogene GmbH, Vienna
List of subsidiaries
Ownership interest in subsidiary (in percent)		100.00%
Additional percentage ownership in subsidiary acquired	10.00%	10.00%
Centogene India Pvt. Ltd
List of subsidiaries
Ownership interest in subsidiary (in percent)	100.00%	100.00%
Centogene Switzerland AG
List of subsidiaries
Ownership interest in subsidiary (in percent)	100.00%	100.00%
Centosafe B.V.
List of subsidiaries
Ownership interest in subsidiary (in percent)	100.00%	100.00%
Centogene d.o.o Belgrade
List of subsidiaries
Ownership interest in subsidiary (in percent)	100.00%	100.00%
Genomics Innovations Company Limited
List of subsidiaries
Ownership interest in subsidiary (in percent)	20.00%

Income taxes - Reconciliation of the effective tax rate to the statutory rate (Details) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Tax Disclosure [Line Items]
Statutory rate (as a percent)	32.10%	31.20%	31.20%
Loss before tax	€ (35,245)	€ (38,596)	€ (57,532)
Taxes on the basis of the Company's domestic tax rate	11,314	12,390	14,642
Tax rate effect of foreign tax jurisdictions	(843)	78	882
Non-deductible expenses	(3,530)	(125)	(3,030)
Current year losses for which no deferred tax assets were recognized	(7,088)	(12,472)	(12,211)
Tax income related to prior years	125	(37)	(17)
Other effects	(265)	59	(196)
Income tax (expenses)/ benefit	€ (287)	€ (107)	€ 70
Domestic tax rate
Income Tax Disclosure [Line Items]
Statutory rate (as a percent)	32.10%
Corporate income tax rate (as a percent)	15.00%
Solidarity surcharge (as a percent)	5.50%
Trade tax rate (as a percent)	16.30%

Inventories (Details) - EUR (€) € in Thousands	12 Months Ended
Inventories (Details) - EUR (€) € in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Inventories
Raw materials, consumables and supplies	€ 2,268	€ 1,801
Finished goods and merchandise	195	18
Inventories	2,463	1,819
Raw materials, consumables and changes in inventories of finished goods and work in process recorded as expenses	12,790	19,525	€ 9,467
Inventory write-down	€ 226	€ 0

Other income and expenses (Tables)

12 Months Ended

Dec. 31, 2023

Other income and expenses

Schedule of other operating income


in EUR k	2023	2022	2021

Government grants	1,488	1,958	2,263
Gain on disposal of property, plant and equipment	56	53	18
VAT refund from tax authorities	1,953	970	—
Sale of IP to JV	7,549	—	—
Others	802	793	613
Total other operating income	11,848	3,774	2,894

Schedule of other operating expenses

Schedule of finance costs, net


in EUR k	2023	2022	2021
Interest expenses from loans	(7,622)	(2,934)	(218)
Changes in FV of warrants	(159)	2,574	—
Changes in FV of floor	134	(376)	—
Changes in FV of prepayment option	288	510	—
Currency income/(loss)	2,445	(963)	—
Unwinding of the discount on lease liabilities	(579)	(637)	(584)
Interest income from loans and receivables	209	3	3
Total Financial costs, net	(5,284)	(1,823)	(799)

Schedule of employee benefits expense


in EUR k	2023	2022	2021
Wages and salaries	28,192	29,690	32,655
Social security contributions	4,499	4,415	4,588
Share‑based payments	2,158	(1,461)	5,471
Termination benefits	812	319	1,158
Total	35,661	32,963	43,872