Annual Report 2015
Notes
2015
2014
€m
€m
Cash Flows from Operating Activities
(Loss)/profit for the year attributable to equity shareholders
(81.0)
83.3
Finance income
(0.2)
-
Finance expense
9.6
11.0
Income tax expense
13.2
12.2
Impairment of intangible assets
150.0
-
Revaluation/impairment of property, plant & equipment
13.8
-
Impairment of investment in equity accounted investee
2.0
-
Depreciation of property, plant & equipment
24.6
23.8
Amortisation of intangible assets
0.3
0.2
Net (profit)/loss on disposal of property, plant & equipment
(4.4)
1.2
Share of equity accounted investees’ profit after tax
-
(0.5)
Charge for equity settled share-based employee benefits
0.2
0.8
Pension contributions paid less amount charged to income statement
(8.3)
(6.3)
119.8
125.7
(Increase)/decrease in inventories
(6.3)
3.6
Decrease/(increase) in trade & other receivables
11.9
(13.0)
Decrease in trade & other payables
(15.6)
(2.9)
Decrease in provisions
(1.5)
(1.3)
108.3
112.1
Interest received
0.2
-
Interest and similar costs paid
(9.3)
(8.3)
Income taxes paid
(12.8)
(13.7)
Net cash inflow from operating activities
86.4
90.1
Cash Flows from Investing Activities
Purchase of property, plant & equipment
(21.9)
(38.5)
Net proceeds on disposal of property, plant & equipment
17.8
10.0
Acquisition of business
10
(13.6)
(8.6)
Acquisition of equity accounted investee(s)
10, 13
(0.5)
(12.0)
Net cash outflow from investing activities
(18.2)
(49.1)
Cash Flows from Financing Activities
Proceeds from exercise of share options
1.0
5.0
Net proceeds from sale of shares held by Employee Trust
-
1.2
Drawdown of debt
335.8
76.2
Repayment of debt
(337.6)
(57.3)
Payment of issue costs
(2.0)
-
Shares purchased under share buyback programme
(30.0)
-
Dividends paid
(29.5)
(27.9)
Net cash outflow from financing activities
(62.3)
(2.8)
Net increase in cash & cash equivalents
5.9
38.2
Cash & cash equivalents at beginning of year
162.8
121.0
Translation adjustment
13.2
3.6
Cash & cash equivalents at end of year
181.9
162.8

A reconciliation of cash & cash equivalents to net debt is presented in note 19 to the financial statements.

On behalf of the Board

Sir Brian Stewart

Chairman

Stephen Glancey

Group Chief Executive Officer