Consolidated statement of cash flow
|
In millions of euro |
Note |
2025 |
2024 |
|---|---|---|---|
|
Operating activities |
|||
|
Profit/(loss) before income tax |
82.4 |
(45.4) |
|
|
Adjustments to reconcile profit before tax to net cash flows |
|||
|
Amortisation/impairment of intangible assets |
16 |
114.1 |
87.4 |
|
Depreciation/impairment of tangible assets |
17/18 |
52.8 |
49.8 |
|
Other losses |
11 |
1.0 |
0.0 |
|
Provisions and employee benefit expenses |
6/28 |
(0.3) |
(4.5) |
|
Unwinding of discount on contingent consideration |
5.0 |
(5.5) |
|
|
Finance income |
10 |
(2.3) |
(3.0) |
|
Finance expenses |
10 |
102.2 |
156.7 |
|
Changes in foreign currency (excluding movement in currency translation reserve) |
10 |
(52.8) |
29.4 |
|
Working capital adjustments |
|||
|
Financial assets |
19 |
1.8 |
(1.5) |
|
Trade receivables and Unbilled services |
21 |
(32.6) |
(43.3) |
|
Other receivables |
22 |
11.2 |
(1.7) |
|
Trade and other payables |
30 |
(18.5) |
4.4 |
|
Cash generated from operations, before income tax paid |
264.0 |
222.8 |
|
|
Income tax paid |
(47.3) |
(39.5) |
|
|
Interest paid |
(107.1) |
(122.7) |
|
|
Interest received |
1.6 |
3.4 |
|
|
Net cash flows from operating activities |
111.2 |
64.0 |
|
|
Investing activities |
|||
|
Acquisition of subsidiary, net of cash acquired |
15 |
(127.6) |
(64.8) |
|
Payment of contingent consideration |
(13.6) |
(13.3) |
|
|
Investment in intangible assets |
16 |
(50.4) |
(39.1) |
|
Investment in property, plant and equipment |
17 |
(9.8) |
(5.9) |
|
Net cash flows used in investing activities |
(201.4) |
(123.1) |
|
|
Financing activities |
|||
|
Proceeds from issuance of shares |
15 |
- |
1.0 |
|
Proceeds from borrowings |
27 |
179.0 |
100.1 |
|
Repayments of borrowings (incl. lease liability) |
27/18 |
(49.7) |
(49.9) |
|
Transaction costs in relation to refinancing |
27 |
(3.0) |
(3.8) |
|
Dividends paid to non-controlling interest |
(0.7) |
(0.6) |
|
|
Net cash flows from financing activities |
125.6 |
46.8 |
|
|
Net movement in cash and cash equivalents |
35.4 |
(12.3) |
|
|
Cash, cash equivalents and bank overdrafts at beginning of the year |
23 |
77.7 |
90.2 |
|
Exchange loss on cash and cash equivalents from operations |
(21.5) |
(0.4) |
|
|
Cash and cash equivalents at 31 December |
23 |
91.6 |
77.7 |