Investor relations

Consolidated cash flow statement
for the year ended 31 December 2017


2017

€’000

2016

€’000

Profit before taxes

12,002

1,700

Adjustments for:

Net interest income

(40)

(61)

Depreciation and amortisation

667

226

Inventory writedown

Credit for retirement benefit obligation and share-based payments

48

161

Change in provisions

1,385

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

(254)

Losses in foreign currency exchange

14

700

Change in deferred grants and subsidies

(70)

13,822

2,656

Changes in working capital

Decrease in inventories

7,148

9,639

Decrease in accounts receivables

755

395

Decrease in accounts payables and deferred income

(1,534)

(1,181)

(Increase)/decrease in other assets

(21,591)

6,490

(Increase)/decrease in other liabilities

112

(57)

(1,288)

17,942

Income received/(paid)

1

(69)

Interest received

40

97

Net cash (used in)/generated from operating activities

(1,247)

17,970

Cash flow from financing activities

Proceeds from sale of property, plant and equipment

431

Payments to acquire property, plant and equipment and intangibles

(133)

(131)

Net cash generated from/(used in) investing activities

298

(131)

Cash flow from financing activities

Interest paid

Net cash used in financing activities

Cash (used in)/generated from operations

(949)

17,839

Effects of foreign exchange rate changes on cash and cash equivalents

(997)

(1,703)

Cash and cash equivalents at beginning of the year

28,827

12,691

Cash and cash equivalents at end of the year

26,881

28,827

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

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