| |
Notes |
2016
€000 |
2015
€000 |
| Operating activities |
|
|
|
| Profit for the year |
|
28,437 |
19,420 |
| Adjustments to reconcile profit for the year to net cash flows: |
|
|
|
| Income tax expense recognised in income statement |
13 |
10,734 |
12,033 |
| Interest expense and bank commissions |
9 |
2,668 |
12,638 |
| Loss on disposal of tangible assets |
|
185 |
1,016 |
| Other financial income |
9 |
(220) |
(380) |
| Depreciation of property, plant and equipment |
18 |
9,739 |
9,423 |
| Amortisation of intangible assets |
16 |
1,485 |
1,581 |
| Net foreign exchange gain |
9 |
(1,483) |
(2,007) |
| Share-based compensation |
34 |
81 |
1,094 |
| Movement in provisions |
|
(323) |
(626) |
| |
|
51,303 |
54,192 |
| Working capital adjustments |
|
|
|
| (Increase)/decrease in trade receivables and other assets |
|
(1,596) |
44,869 |
| Decrease/(increase) in inventories |
|
6,058 |
(316) |
| Increase/(decrease) in trade payables and other liabilities |
|
5,140 |
(44,123) |
| |
|
9,602 |
430 |
| Cash generated by operations |
|
60,905 |
54,622 |
| Income tax paid |
13 |
(6,831) |
(6,123) |
| Net cash flows from operating activities |
|
54,074 |
48,499 |
| Investing activities |
|
|
|
| Interest received |
|
220 |
380 |
| Payments to acquire intangible assets |
|
(5,838) |
(1,393) |
| Purchase of property, plant and equipment |
|
(6,727) |
(7,246) |
| Proceeds from sale of property, plant and equipment |
|
- |
363 |
| Proceeds from asset previously classified as held for sale |
|
- |
120 |
| Net cash flow from investing activities |
|
(12,345) |
(7,776) |
| Financing activities |
|
|
|
| Repayment of borrowings |
|
- |
(166,590) |
| New borrowings raised |
|
2,712 |
132,310 |
| Interest paid |
|
(2,571) |
(7,137) |
| Other financial costs |
|
- |
(300) |
| Purchase of own shares |
|
- |
(713) |
| Dividends paid to equity holders of the parent |
29 |
(37,427) |
(7,513) |
| Net cash flow from financing activities |
|
(37,286) |
(49,943) |
| Net increase/(decrease) in cash and cash equivalents |
|
4,443 |
(9,220) |
| Cash and cash equivalents at the start of the year |
|
75,806 |
82,914 |
| Effect of exchange rates on cash and cash equivalents |
|
(5,293) |
2,112 |
| Cash and cash equivalents at the end of the year |
32 |
74,956 |
75,806 |