Consolidated Statement of Cash Flows

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

33

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

33

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

33

(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

33

(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

18

39.0

38.5