| |
Notes |
2017
€000 |
2016
€000 |
| Operating activities |
|
|
|
| Profit for the year |
|
11,329 |
28,437 |
| Adjustments to reconcile profit for the year to net cashflows: |
|
|
|
| Income tax expense recognised in income statement |
13 |
15,980 |
10,734 |
| Interest expense and bank commissions |
9 |
3,169 |
2,668 |
| Loss on disposal of tangible assets |
|
538 |
185 |
| Other financial income |
9 |
(681) |
(220) |
| Depreciation of property, plant and equipment |
18 |
9,894 |
9,739 |
| Amortisation of intangible assets |
16 |
1,318 |
1,485 |
| Impairment of goodwill |
8 |
14,900 |
- |
| Net foreign exchange loss/(gain) |
9 |
84 |
(1,483) |
| Share-based compensation |
34 |
1,942 |
81 |
| Share of loss of equity-accounted investees, net of tax |
22 |
331 |
- |
| Increase/(decrease) in provisions |
|
775 |
(323) |
| |
|
59,579 |
51,303 |
| Working capital adjustments |
|
|
|
| (Increase)/decrease in trade receivables and other assets |
|
(30,505) |
(1,596) |
| (Increase)/decrease in inventories |
|
(1,443) |
6,058 |
| Increase in trade payables and other liabilities |
|
25,988 |
5,140 |
| |
|
(5,960) |
9,602 |
| Cash generated by operations |
|
53,619 |
60,905 |
| Income tax paid |
13 |
(6,959) |
(6,831) |
| Net cashflow from operating activities |
|
46,660 |
54,074 |
| Investing activities |
|
|
|
| Interest received |
|
681 |
220 |
| Payments to acquire intangible assets |
16 |
(1,376) |
(5,838) |
| Proceeds from sale of property, plant and equipment |
|
98 |
- |
| Purchase of property, plant and equipment |
18 |
(3,710) |
(6,727) |
| Purchase of equity-accounted investees |
22 |
(15,000) |
- |
| Net cashflow from investing activities |
|
(19,307) |
(12,345) |
| Financing activities |
|
|
|
| Repayment of borrowings |
23 |
(20,128) |
- |
| New borrowings raised |
|
- |
2,712 |
| Interest paid |
|
(3,147) |
(2,571) |
| Purchase of own shares |
|
(116) |
- |
| Dividends paid to equity holders of the parent |
29 |
(15,730) |
(37,427) |
| Net cashflow from financing activities |
|
(39,121) |
(37,286) |
| Net (decrease)/increase in cash and cash equivalents |
|
(11,768) |
4,443 |
| Cash and cash equivalents at the start of the year |
|
74,956 |
75,806 |
| Effect of exchange rates on cash and cash equivalents |
|
(1,847) |
(5,293) |
| Cash and cash equivalents at the end of the year |
32 |
61,341 |
74,956 |