Consolidated cash flow statement
for the year ended 31 December 2019
|
|
2019 €’000 |
2018 €’000 |
|
|
(Loss)/profit before taxes |
(2,438) |
1,627 |
|
|
Adjustments for: |
|||
|
Net interest income |
|
(46) |
(64) |
|
Depreciation, impairment and amortisation |
|
25 |
655 |
|
Inventory writedown |
|
— |
591 |
|
Charge for share-based payments |
|
(262) |
(132) |
|
Change in provisions |
|
— |
(1,385) |
|
Gain from the disposal of property, plant and equipment and intangibles |
|
(70) |
(27) |
|
(Gain)/losses in foreign currency exchange |
(414) |
145 |
|
|
|
(3,205) |
1,410 |
|
|
Changes in working capital |
|||
|
Decrease in inventories |
|
53 |
3,197 |
|
Decrease in accounts receivables |
|
13 |
1,000 |
|
Decrease in accounts payables and deferred income |
|
(375) |
(329) |
|
Decrease in other assets |
|
370 |
22,549 |
|
Decrease in other liabilities |
|
(8) |
(147) |
|
|
(3,152) |
27,680 |
|
|
Income taxes paid |
|
(394) |
— |
|
Interest received |
|
46 |
64 |
|
Net cash (used in)/generated from operating activities |
(3,500) |
27,744 |
|
|
Cash flow from investing activities |
|||
|
Proceeds from sale of property, plant and equipment |
|
70 |
29 |
|
Payments to acquire property, plant and equipment and intangibles |
|
(12) |
(12) |
|
Net cash generated from/(used in) investing activities |
58 |
17 |
|
|
Cash flow from financing activities |
|
|
|
|
Capital return to shareholders |
|
(43,423) |
— |
|
EBT participation in capital return |
|
535 |
— |
|
Net cash used in financing activities |
(42,888) |
— |
|
|
Cash (used in)/generated from operations |
(46,330) |
27,761 |
|
|
Effects of foreign exchange rate changes on cash and cash equivalents |
974 |
(678) |
|
|
Cash and cash equivalents at the beginning of the year |
53,964 |
26,881 |
|
|
Cash and cash equivalents at the end of the year |
8,608 |
53,964 |
The accompanying notes form an integral part of these financial statements.