Summary extract of Income Statement | 2021 | 2020 | 20193 | 2018 | 2017 |
€m | €m | €m | €m | €m | |
Revenue | 334.5 | 277.1 | 357.4 | 330.2 | 335.1 |
Operating expenses and employee benefits expense | (282.2) | (235.0) | (270.6) | (261.8) | (254.1) |
Depreciation, impairment and amortisation | (52.5) | (41.3) | (36.8) | (22.1) | (20.7) |
(0.2) | 0.8 | 50.0 | 46.3 | 60.3 | |
Non-trading items 1 | - | (11.2) | 14.9 | 13.7 | 28.7 |
Interest (net) | (3.9) | (7.6) | (3.4) | (0.8) | (1.3) |
(Loss) / profit before taxation | (4.1) | (18.0) | 61.5 | 59.2 | 87.7 |
Taxation | (0.8) | (1.0) | (1.3) | (1.4) | (4.4) |
(Loss) / profit for the year | (4.9) | (19.0) | 60.2 | 57.8 | 83.3 |
EBITDA | 52.3 | 42.1 | 86.8 | 68.4 | 81.0 |
Per share information: | €cent | €cent | €cent | €cent | €cent |
Earnings per share | |||||
-Basic | (2.6) | (10.2) | 31.7 | 30.4 | 44.1 |
-Adjusted basic2 | (2.7) | (4.3) | 23.8 | 23.1 | 31.0 |
Dividend per share | - | - | 4.42 | 12.77 | 12.16 |
Shares in issue at year end: | m | m | m | m | m |
-At year end | 182.8 | 187.0 | 187.4 | 190.3 | 189.9 |
-Average during the year | 186.7 | 187.0 | 189.8 | 190.0 | 188.8 |
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 basic earnings per share 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 and 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 Statement of Financial Position | 2021 | 2020 | 20193 | 2018 | 2017 |
€m | €m | €m | €m | €m | |
Property, plant and equipment, right-of-use and intangible assets | 387.3 | 353.0 | 353.5 | 308.1 | 250.0 |
Retirement benefit surplus | 6.7 | 1.0 | 12.5 | 2.5 | 8.1 |
Other assets | 117.9 | 224.9 | 225.8 | 203.7 | 135.2 |
Total assets | 511.9 | 578.9 | 591.8 | 514.3 | 393.3 |
Equity capital and reserves | 249.7 | 265.9 | 287.9 | 252.9 | 223.8 |
Retirement benefit obligation | 1.4 | 2.2 | 3.7 | 4.2 | 3.4 |
Other non-current liabilities | 154.8 | 141.6 | 229.3 | 205.7 | 51.5 |
Current liabilities | 106.0 | 169.2 | 70.9 | 51.5 | 114.6 |
Total equity and liabilities | 511.9 | 578.9 | 591.8 | 514.3 | 393.3 |
Summary extract of Consolidated | |||||
Net cash inflow from operating activities | 56.8 | 46.1 | 84.8 | 61.5 | 71.8 |
Net cash (outflow) / inflow from investing activities | (52.7) | 7.8 | (52.3) | (158.8) | 27.7 |
Net cash (outflow) / inflow from financing activities | (116.4) | (14.4) | (46.5) | 131.4 | (51.3) |
Cash and cash equivalents at the beginning of the year | 150.4 | 110.9 | 124.7 | 90.3 | 42.2 |
Effect of foreign exchange rate changes | 0.4 | - | 0.2 | 0.3 | (0.1) |
Closing cash and cash equivalents | 38.5 | 150.4 | 110.9 | 124.7 | 90.3 |
€m | €m | €m | €m | €m | |
Net (debt) / cash | (142.2) | (88.5) | (129.0) | (80.3) | 39.6 |
Times | Times | Times | Times | Times | |
Net debt / EBITDA | 2.6x | 2.1x | 1.5x | 1.2x | N/A |
Gearing (net debt as a percentage of shareholders’ funds) | 57% | 33% | 45% | 32% | N/A |
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 and 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.