Statement of Cash Flows

For the Financial Year ended 31 December 2020

	Notes	2020	2019
		€’000	€’000
Net cash from operating activities	23	51,552	55,809
Taxation paid		(2,893)	(5,707)
Net cash generated from operating activities		48,659	50,102

Cash flows from investing activities
Purchase of tangible assets		(56,878)	(77,025)
Purchase of intangible assets		(61)	(44)
Grants received		-	1,914
Proceeds from disposal of tangible assets		51	5
Interest received		10	-
Net cash used in investing activities		(56,878)	(75,150)

Cash flow from financing activities
Proceeds from issue of bonds		100,000	100,009
Repayment of bank borrowings		(5,264)	(36,316)
Dividends paid	9	-	(4,100)
Interest paid and similar charges		(3,685)	(494)
Net cash generated from financing activities		91,051	59,099

Net increase in cash at bank and in hand		82,832	34,051
Cash and cash equivalents at the beginning of the year		77,305	43,254

Cash and cash equivalents at the end of the year		160,137	77,305

Cash and cash equivalents consists of:
Cash at bank and in hand		160,137	77,305
Cash and cash equivalents		160,137	77,305