Investor relations

Consolidated cash flow statement
for the year ended 31 December 2018


2018

€’000

2017

€’000

Profit before taxes

1,627

12,002

Adjustments for:

Net interest income

(64)

(40)

Depreciation, impairment and amortisation

655

667

Inventory writedown

591

(Charge)/credit for retirement benefit obligation and share-based payments

(132)

48

Change in provisions

(1,385)

1,385

Gain from the disposal of property, plant and equipment and intangibles

(27)

(254)

Losses in foreign currency exchange

145

14

Change in deferred grants and subsidies

1,410

13,822

Changes in working capital

Decrease in inventories

3,197

7,148

Decrease in accounts receivables

1,000

755

Decrease in accounts payables and deferred income

(329)

(1,534)

Decrease/(increase) in other assets

22,549

(21,591)

(Decrease)/increase in other liabilities

(147)

112

27,680

(1,288)

Income taxes received

1

Interest received

64

40

Net cash generated from/(used in) operating activities

27,744

(1,247)

Cash flow from investing activities

Proceeds from sale of property, plant and equipment

29

431

Payments to acquire property, plant and equipment and intangibles

(12)

(133)

Net cash generated from/(used in) investing activities

17

298

Cash flow from financing activities

Interest paid

Net cash used in financing activities

Cash generated from/(used in) operations

27,761

(949)

Effects of foreign exchange rate changes on cash and cash equivalents

(678)

(997)

Cash and cash equivalents at the beginning of the year

26,881

28,827

Cash and cash equivalents at the end of the year

53,964

26,881

The accompanying notes form an integral part of these financial statements.

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