for the financial year ended 31 December 2022
|
|
2022 |
2021 |
|
Notes |
€m |
€m |
|
|
|
|
Profit / (loss) for the financial year |
|
59.8 |
(4.9) |
Adjustments for: |
|
|
|
Finance costs (net) |
|
4.2 |
3.9 |
Income tax expense |
|
2.7 |
0.8 |
Retirement benefit scheme movements |
1.1 |
0.6 |
|
Depreciation of property, plant and equipment |
|
38.5 |
31.9 |
Amortisation of intangible assets |
|
0.4 |
0.3 |
Depreciation of right-of-use assets |
|
21.6 |
20.3 |
Share-based payment expense |
|
3.0 |
1.3 |
(Decrease) / increase in provisions |
|
(0.5) |
1.1 |
Working capital movements |
1.2 |
11.7 |
|
Cash generated from operations |
|
132.0 |
67.0 |
Income taxes paid |
|
(1.7) |
(0.8) |
Interest paid |
|
(4.0) |
(8.4) |
Net cash inflow from operating activities |
|
126.3 |
57.8 |
|
|
|
|
Cash flow from investing activities |
|
|
|
Proceeds on disposal of property, plant and equipment |
|
3.0 |
2.8 |
Lease inception costs |
|
- |
(0.3) |
Purchases of property, plant and equipment and intangible assets |
(75.7) |
(55.2) |
|
Net cash outflow from investing activities |
|
(72.7) |
(52.7) |
|
|
|
|
Cash flow from financing activities |
|
|
|
Share buyback |
|
(49.2) |
(19.8) |
Dividends |
|
(24.2) |
- |
Repayments of leases liabilities |
(21.0) |
(19.8) |
|
Repayments of bank loans |
|
(7.6) |
(87.5) |
Drawdown of bank loans |
|
52.0 |
10.0 |
Settlement of employee equity plans through market purchases |
|
(2.9) |
(1.0) |
Proceeds on issue of ordinary share capital |
|
0.1 |
0.7 |
Net cash outflow from financing activities |
|
(52.8) |
(117.4) |
|
|
|
|
Net increase / (decrease) in cash and cash equivalents |
|
0.8 |
(112.3) |
Cash and cash equivalents at beginning of year |
|
38.5 |
150.4 |
Effect of foreign exchange rate changes |
|
(0.3) |
0.4 |
Cash and cash equivalents at end of year |
39.0 |
38.5 |