Group Cash Flow Statement
for the year ended 31 December 2022
|
Notes |
2022 |
2021 |
|
|
€’000 |
€’000 |
||
|
Cash Flows from Operating Activities |
|||
|
(Deficit)/Surplus for the year |
(2,793) |
2,359 |
|
|
Adjustments for: |
|||
|
Depreciation of property, plant and equipment |
10,351 |
10,611 |
|
|
Amortisation of intangible assets |
1,414 |
1,043 |
|
|
Impairment of intangible assets |
281 |
1,189 |
|
|
Loss on disposal of property, plant and equipment |
(12) |
(73) |
|
|
Difference between pension charge and cash contributions |
1,777 |
1,072 |
|
|
Net finance expense/(income) |
3 |
(682) |
|
|
Income tax (credit)/expense |
(197) |
407 |
|
|
10,824 |
15,926 |
||
|
Change in inventories and related inventory payables |
(3,764) |
2,605 |
|
|
Change in receivables and prepayments |
(1,539) |
10,346 |
|
|
Change in trade and other payables |
21,640 |
6,565 |
|
|
Change in taxation and social welfare |
144 |
(2,274) |
|
|
Change in employee benefits and restructuring and other costs |
(1,220) |
(5,486) |
|
|
Net Cash generated from Operating Activities |
26,085 |
27,682 |
|
|
Cash Flows from Investing Activities |
|||
|
Interest received |
12 |
- |
|
|
Proceeds from sale of property, plant and equipment |
15 |
77 |
|
|
Acquisition of property, plant and equipment |
(7,965) |
(9,981) |
|
|
Acquisition of intangible assets |
(1,717) |
(1,648) |
|
|
Net Cash absorbed by Investing Activities |
(9,655) |
(11,552) |
|
|
Cash Flows from Financing Activities |
|||
|
Debt repayment |
(1,875) |
- |
|
|
Interest paid |
(1,200) |
(1,218) |
|
|
Cash payments for the principal portion of the lease liability |
(615) |
(606) |
|
|
Cash payments for the interest portion of the lease liability |
(70) |
(79) |
|
|
Increase in liquid investments |
(21,880) |
(28,892) |
|
|
Net Cash absorbed by Financial Activities |
(25,640) |
(30,795) |
|
|
Net decrease in cash and cash equivalents |
(9,210) |
(14,665) |
|
|
Cash and cash equivalents at 1 January |
62,500 |
77,165 |
|
|
Cash and Cash Equivalents at 31 December |
53,290 |
62,500 |
|
On behalf of the Board |
|
|
Siún Ní Raghallaigh Chair |
Anne O’Leary Board Member and Chair of the Audit and Risk Committee |
|
20 June 2023 |