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SEGMENT INFORMATION | 12 Months Ended
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Dec. 31, 2020
SEGMENT INFORMATION |
SEGMENT INFORMATION | 29— SEGMENT INFORMATION We recently implemented organizational changes in our structure and realigned our activity into three divisions: HIFU, ESWL (including lithotripsy activities) and Distribution to better reflect how we view our businesses and how we measure our progress. Through these three divisions, we develop, produce, market and distribute minimally invasive medical devices, mainly for urological diseases. HIFU division includes sales of Focal One, Ablatherm and related consumables and services, ESWL division includes revenues generated by the existing Sonolith range of lithotripters and, Distribution division includes the sale of complimentary products such as lasers, micro-ultrasound systems and other products from third parties. The organization of our activities into three divisions better clarified our vision and enhanced our financial reporting of our three businesses HIFU, ESWL and Distribution. This new structure also allows for an improved measurement of our business progress. The business in which the Company operates is the development, production and distribution of minimally invasive medical devices, primarily for the treatment of urological diseases. Substantially all revenues result from the sale of medical devices and their related license and royalty payments from third parties. The segments derive their revenues from this activity. The following tables set forth the key Statement of income (loss) figures, by segment for fiscal years 2020, 2019 and 2018 and the key balance sheet figures, by segment, for fiscal years 2020, 2019 and 2018. Segment operating profit or loss and segment assets are determined in accordance with the same policies as those described in the summary of significant accounting policies and they are reviewed by the CODM, who is the CEO. Interest income and expense, current and deferred income taxes are not allocated to individual segments. A reconciliation of segment operating profit or loss to consolidated net loss is as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 2020 |  | 2019 |  | 2018
Segment operating income (loss) |  | 269 |  | 2,201 |  | (1,315)
Financial income (expense), net |  | (98) |  | (146) |  | 797
Foreign Currency exchange (losses) gains, net |  | (1,359) |  | 136 |  | 538
Income tax (expense) credit |  | (516) |  | (679) |  | (358)
Consolidated net profit (loss) |  | (1,704) |  | 1,512 |  | (338)
​ A summary of the Company’s operations by segment is presented below for years ending December 31, 2020, 2019 and 2018: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | HIFU |  | ESWL |  | DISTRIB |  | Reconciling |  | Total
2020 | ​ | Division | ​ | Division | ​ | Division | ​ | Items | ​ | consolidated
Sales of goods |  | 6,000 |  | 6,248 |  | 15,274 | ​ | ​ |  | 27,523
Sales of RPPs & leases |  | 3,594 |  | 927 |  | 224 | ​ | ​ |  | 4,745
Sales of spare parts and services |  | 1,831 |  | 5,707 |  | 1,844 | ​ | ​ |  | 9,382
Total sales |  | 11,425 |  | 12,882 |  | 17,342 | ​ | ​ |  | 41,649
External other revenues |  | 12 |  | — |  | — | ​ | ​ |  | 12
Total revenues |  | 11,438 |  | 12,882 |  | 17,342 | ​ | ​ |  | 41,662
Total COS |  | (5,144) |  | (7,232) |  | (10,906) | ​ | ​ |  | (23,283)
Gross profit |  | 6,293 |  | 5,649 |  | 6,436 | ​ | ​ |  | 18,379
R&D expenses |  | (2,583) |  | (1,555) |  | (358) | ​ | ​ |  | (4,496)
Selling and marketing expenses |  | (3,151) |  | (2,052) |  | (4,076) | ​ | ​ |  | (9,279)
G&A expenses |  | (1,005) |  | (964) |  | (900) |  | (1,465) |  | (4,335)
Total expenses |  | (6,738) |  | (4,572) |  | (5,335) |  | (1,465) |  | (18,110)
Operating income (loss) from operations |  | (445) |  | 1,078 |  | 1,102 |  | (1,465) |  | 269
Total Assets |  | 16,279 |  | 15,567 |  | 20,795 |  | 2,551 |  | 55,193
Capital expenditures |  | 1,144 |  | 309 |  | 557 |  | — |  | 2,011
Non-current assets |  | 3,706 |  | 2,466 |  | 3,628 |  | — |  | 9,801
Goodwill |  | 645 |  | 496 |  | 1,271 |  | — |  | 2,412
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | HIFU |  | ESWL |  | DISTRIB |  | Reconciling |  | Total
2019 | ​ | Division | ​ | Division | ​ | Division | ​ | Items | ​ | consolidated
Sales of goods |  | 8,311 |  | 6,715 |  | 15,084 |  | — |  | 30,111
Sales of RPPs & leases |  | 4,162 |  | 1,426 |  | 158 |  | — |  | 5,747
Sales of spare parts and services |  | 1,618 |  | 6,048 |  | 1,335 |  | — |  | 9,001
Total sales |  | 14,092 |  | 14,190 |  | 16,578 |  | — |  | 44,859
External other revenues |  | 52 |  | — |  | — |  | — |  | 52
Total revenues |  | 14,144 |  | 14,190 |  | 16,578 |  | — |  | 44,912
Total COS |  | (6,152) |  | (7,816) |  | (9,941) |  | — |  | (23,909)
Gross profit |  | 7,991 |  | 6,374 |  | 6,637 |  | — |  | 21,002
R&D expenses |  | (1,962) |  | (1,394) |  | (372) |  | — |  | (3,728)
Selling and marketing expenses |  | (4,402) |  | (2,441) |  | (4,008) |  | — |  | (10,850)
G&A expenses |  | (1,168) |  | (904) |  | (854) |  | — |  | (4,224)
Total expenses |  | (7,533) |  | (4,738) |  | (5,233) |  | — |  | (18,802)
Operating income (loss) from operations |  | 459 |  | 1,635 |  | 1,404 |  | — |  | 2,201
Total Assets |  | 16,665 |  | 15,892 |  | 16,500 |  | 4,012 |  | 53,068
Capital expenditures |  | 915 |  | 298 |  | 319 |  | — |  | 1,532
Non-current assets |  | 4,096 |  | 4,448 |  | 2,427 |  | — |  | 10,971
Goodwill |  | 645 |  | 450 |  | 1,317 |  | — |  | 2,412
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | HIFU |  | ESWL |  | DISTRIB |  | Reconciling |  | Total
2018 | ​ | Division | ​ | Division | ​ | Division | ​ | Items | ​ | consolidated
Sales of goods |  | 5,494 |  | 7,069 |  | 12,505 |  | — |  | 25,070
Sales of RPPs & leases |  | 3,750 |  | 1,254 |  | 82 |  | — |  | 5,086
Sales of spare parts and services |  | 1,780 |  | 6,157 |  | 1,070 |  | — |  | 9,007
Total sales |  | 11,025 |  | 14,480 |  | 13,657 |  | — |  | 39,163
External other revenues |  | 19 |  | — |  | — |  | — |  | 19
Total revenues |  | 11,044 |  | 14,480 |  | 13,657 |  | — |  | 39,183
Total COS |  | (5,312) |  | (8,178) |  | (8,775) |  | — |  | (22,266)
Gross profit |  | 5,732 |  | 6,302 |  | 4,882 |  | — |  | 16,917
R&D expenses |  | (2,394) |  | (1,410) |  | (285) |  | — |  | (4,088)
Selling and marketing expenses |  | (4,628) |  | (2,357) |  | (3,566) |  | — |  | (10,551)
G&A expenses |  | (1,036) |  | (731) |  | (580) |  | (1,247) |  | (3,593)
Total expenses |  | (8,057) |  | (4,498) |  | (4,431) |  | (1,247) |  | (18,232)
Operating income (loss) from operations |  | (2,325) |  | 1,804 |  | 451 |  | (1,247) |  | (1,316)
Total Assets |  | 13,648 |  | 16,700 |  | 13,149 |  | 5,243 |  | 48,740
Capital expenditures |  | 1,154 |  | 451 |  | 324 |  | — |  | 1,928
Non-current assets |  | 2,855 |  | 3,697 |  | 1,462 |  | — |  | 8,013
Goodwill |  | 645 |  | 403 |  | 1,364 |  | — |  | 2,412
​

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