|
|
|
| For the year ended 31 December 2009 |
|
2009 |
|
|
2008 |
| |
|
€'000 |
|
|
€'000 |
| Profit before taxation |
|
13,580 |
|
|
64,116 |
| Finance income |
|
(38,115) |
|
|
(24,835) |
| Finance expense |
|
29,419 |
 |
|
59,944 |
| Operating profit |
|
4,884 |
|
|
99,225 |
| |
|
|
|
|
|
| Depreciation |
|
47,939 |
|
|
54,287 |
| Intangible amortisation |
|
2,212 |
|
|
2,218 |
| Goodwill write-off on termination |
|
135 |
|
|
- |
| Goodwill impairment loss |
|
5,469 |
|
|
- |
| Share-based payments credit |
|
(1,364) |
|
|
(1,966) |
| Non cash movement in provisions |
|
4,420 |
|
|
5,281 |
| Profit
on sale of property, plant and equipment |
|
(6,819) |
|
|
(4,655) |
| Contributions to pension schemes in excess of IAS 19 charge |
|
(11,975) |
|
|
(8,094) |
| Decrease in working capital |
|
93,719 |
|
|
108,463 |
| Cash generated from operations |
|
138,620 |
|
|
254,759 |
| |
|
|
|
|
|
| Interest paid |
|
(21,241) |
|
|
(45,593) |
| Income
taxes paid |
|
(1,069) |
|
|
(1,579) |
| Cash
flows from operating activities |
|
116,310 |
|
|
207,587 |
| |
|
|
|
|
|
| Investing
activities |
|
|
|
|
|
| Inflows |
|
|
|
|
|
| Proceeds
from sale of property, plant and equipment |
|
13,210 |
|
|
10,953 |
| Investment profit realised in cash |
|
22,058 |
|
|
- |
| Interest
received |
|
5,242 |
|
|
8,781 |
| Sale of financial assets |
|
35 |
|
|
433 |
| |
|
40,545 |
|
|
20,167 |
| Outflows |
|
|
|
|
|
| Acquisition
of subsidiary undertakings and businesses |
|
(2,255) |
|
|
(24,460) |
| Net
cash acquired with subsidiary undertakings |
|
604 |
|
|
4,915 |
| Deferred
acquisition consideration paid |
|
(1,556) |
|
|
(8,420) |
| Claims paid on provisions |
|
(1,903) |
|
|
(2,063) |
| Purchase
of property, plant and equipment |
|
(12,420) |
|
|
(78,592) |
| Investment in associate |
|
(3,690) |
|
|
- |
| |
|
(21,220) |
|
|
(108,620) |
| |
|
|
|
|
|
| Cash
flows from investing activities |
|
19,325 |
|
|
(88,453) |
| |
|
|
|
|
|
| Financing
activities |
|
|
|
|
|
| Inflows |
|
|
|
|
|
| Proceeds
from the issue of share capital |
|
873 |
|
|
1,528 |
| Proceeds
from borrowings |
|
73,679 |
|
|
91,944 |
| |
|
74,552 |
|
|
93,472 |
| Outflows |
|
|
|
|
|
| Repayment
of borrowings |
|
(78,007) |
|
|
(74,031) |
| Purchase
of 'A' Ordinary shares |
|
(17,276) |
|
|
(50,585) |
| Payment
of finance lease liabilities |
|
(383) |
|
|
(1,209) |
| Redemption
of loan notes payable net of derivatives |
|
(49,370) |
|
|
(29,842) |
| |
|
(145,036) |
|
|
(155,667) |
| |
|
|
|
|
|
| Cash
flows from financing activities |
|
(70,484) |
|
|
(62,195) |
| |
|
|
|
|
|
| Net increase in cash and cash equivalents |
|
65,151 |
|
|
56,939 |
| |
|
|
|
|
|
| Cash
and cash equivalents at 1 January |
|
224,827 |
|
|
203,489 |
| Effect
of exchange rate fluctuations on cash held |
|
12,006 |
|
|
(35,601) |
| |
|
|
|
|
|
| Cash
and cash equivalents at 31 December |
|
301,984 |
|
|
224,827 |
| Cash and cash equivalents are broken down as follows: |
|
|
|
|
|
| Cash
at bank and short-term deposits |
|
301,985 |
|
|
224,834 |
| Overdrafts |
|
(1) |
|
|
(1) |
| |
|
301,984 |
|
|
224,827 |
| |
|
|
|
|
|
| |
|
|
|
|
|
|
|
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