Summary extract of Income Statement | 2020 €m | 20193 €m | 2018 €m | 2017 €m | 2016 €m |
Revenue | 277.1 | 357.4 | 330.2 | 335.1 | 325.4 |
Operating expenses and employee benefits expense | (235.0) | (270.6) | (261.8) | (254.1) | (241.9) |
Depreciation, impairment and amortisation | (41.3) | (36.8) | (22.1) | (20.7) | (20.9) |
0.8 | 50.0 | 46.3 | 60.3 | 62.6 | |
Non-trading items 1 | (11.2) | 14.9 | 13.7 | 28.7 | - |
Interest (net) | (7.6) | (3.4) | (0.8) | (1.3) | (2.2) |
(Loss) / profit before taxation | (18.0) | 61.5 | 59.2 | 87.7 | 60.4 |
Taxation | (1.0) | (1.3) | (1.4) | (4.4) | (1.6) |
(Loss) / profit for the year | (19.0) | 60.2 | 57.8 | 83.3 | 58.8 |
EBITDA (including trading from discontinued operations) | 42.1 | 86.8 | 68.4 | 81.0 | 83.5 |
Per share information: | €cent | €cent | €cent | €cent | €cent |
Earnings per share | |||||
-Basic | (10.2) | 31.7 | 30.4 | 44.1 | 31.4 |
-Adjusted 2 | (4.3) | 23.8 | 23.1 | 31.0 | 31.4 |
Dividend per share | - | 13.410 | 12.770 | 12.160 | 11.580 |
Shares in issue at year end: | m | m | m | m | m |
-At year end | 187.0 | 187.4 | 190.3 | 189.9 | 188.3 |
-Average during the year | 187.0 | 189.8 | 190.0 | 188.8 | 187.5 |
1. Non-trading items are material non-recurring items that derive from events or transactions that fall outside the ordinary activities of the Group and which individually, or, if of a similar type, in aggregate, are separately disclosed by virtue of their size or incidence.
2. Adjusted earnings exclude pension interest and non-trading items.
3. The figures for years prior to 2019 have not been restated for the effects of IFRS 16 which was adopted with effect 1 January 2019. The effect on the Consolidated Income Statement for financial year 2019 was to decrease operating expenses by €9.4 million, increase depreciation charges by €8.6 million, increase interest expenses by €1.0 million, a net reduction in profit after tax of €0.2 million. The effect on the Consolidated Statement of Financial Position was to increase assets by €35.3 million and liabilities by €35.5 million and reduce retained earnings by €0.2 million.
Summary extract of Statementof Financial Position | 2020 €m | 20193 €m | 2018 €m | 2017 €m | 2016 €m |
Property, plant and equipment and intangible assets | 314.7 | 317.5 | 308.1 | 250.0 | 205.1 |
Retirement benefit surplus | 1.0 | 12.5 | 2.5 | 8.1 | 2.4 |
Other assets | 263.2 | 261.8 | 203.7 | 135.2 | 84.1 |
Total assets | 578.9 | 591.8 | 514.3 | 393.3 | 291.6 |
Equity capital and reserves | 265.9 | 287.9 | 252.9 | 223.8 | 144.4 |
Retirement benefit obligation | 2.2 | 3.7 | 4.2 | 3.4 | 15.9 |
Other non-current liabilities | 141.6 | 229.3 | 205.7 | 51.5 | 5.3 |
Current liabilities | 169.2 | 70.9 | 51.5 | 114.6 | 126.0 |
Total equity and liabilities | 578.9 | 591.8 | 514.3 | 393.3 | 291.6 |
Summary extract of Consolidated Statement of Cash Flows | |||||
Net cash inflow from operating activities | 46.1 | 84.8 | 61.5 | 71.8 | 82.1 |
Net cash inflow / (outflow) frominvesting activities | 7.8 | (52.3) | (158.8) | 27.7 | (55.6) |
Net cash (outflow) / inflow fromfinancing activities | (14.4) | (46.5) | 131.4 | (51.3) | (7.8) |
Cash and cash equivalents at the beginning of the year | 110.9 | 124.7 | 90.3 | 42.2 | 25.0 |
Effect of foreign exchange rate changes | - | 0.2 | 0.3 | (0.1) | (1.5) |
Closing cash and cash equivalents | 150.4 | 110.9 | 124.7 | 90.3 | 42.2 |
€m | €m | €m | €m | €m | |
Net (debt) / cash | (88.5) | (129.0) | (80.3) | 39.6 | (37.9) |
Times | Times | Times | Times | Times | |
Net debt / EBITDA | 2.1x | 1.5x | 1.2x | N/A | 0.5x |
Gearing (net debt as a percentage of shareholders’ funds) | 33% | 45% | 32% | N/A | 26% |
3. The figures for years prior to 2019 have not been restated for the effects of IFRS 16 which was adopted with effect 1 January 2019. The effect on the Consolidated Income Statement for financial year 2019 was to decrease operating expenses by €9.4 million, increase depreciation charges by €8.6 million, increase interest expenses by €1.0 million, a net reduction in profit after tax of €0.2 million. The effect on the Consolidated Statement of Financial Position was to increase assets by €35.3 million and liabilities by €35.5 million and reduce retained earnings by €0.2 million.