Financial Report
1 January - 31 December
|
kEUR |
2021 |
2020 |
|
|
|
|
|
Cash flow from operating activities |
|
|
|
Result for the year |
47,258 |
31,335 |
|
|
|
|
|
Adjustments to reconcile cash generated by operating activities |
|
|
|
Depreciation and amortization |
20,683 |
17,545 |
|
Movement in provisions |
-236 |
-1,403 |
|
Movement in pensions |
1,465 |
2,016 |
|
Share-based payment expense |
1,208 |
0 |
|
Financial income |
-653 |
-106 |
|
Financial expenses |
4,970 |
6,799 |
|
Income tax charge |
12,590 |
6,350 |
|
Government grant income |
-2,387 |
0 |
|
IPO-related transaction costs |
5,721 |
0 |
|
|
|
|
|
Changes in net working capital |
|
|
|
(Increase) / decrease in inventories |
-17,669 |
-22,101 |
|
(Increase) / decrease in trade receivables |
-11,751 |
-21,213 |
|
(Increase) / decrease in contract assets |
-488 |
-223 |
|
(Increase) / decrease in other current assets |
-3,905 |
2,469 |
|
Increase / (decrease) in trade payables |
1,178 |
4,870 |
|
Increase / (decrease) in contract liabilities |
11,492 |
23,581 |
|
Increase / (decrease) in other current liabilities |
1,648 |
2,894 |
|
Cash generated from operations |
71,124 |
52,813 |
|
|
|
|
|
Interest income received |
8 |
106 |
|
Interest expenses paid |
-2,384 |
-1,018 |
|
Income taxes paid |
-11,396 |
-2,419 |
|
Net cash flows from operating activities |
57,352 |
49,482 |
|
|
|
|
|
Cash flow from investing activities |
|
|
|
Acquisition of intangible assets |
-3,747 |
-2,580 |
|
Acquisition of property, plant and equipment |
-73,961 |
-40,621 |
|
Disposal of property, plant and equipment |
122 |
383 |
|
Movement in other financial assets |
-3,259 |
258 |
|
Net cash flows from investing activities |
-80,845 |
-42,560 |
|
|
|
|
|
kEUR |
2021 |
2020 |
|
|
|
|
|
Cash flow from financing activities |
|
|
|
Proceeds from the issue of ordinary shares |
182,141 |
0 |
|
Purchase of own shares |
-5,464 |
0 |
|
IPO-related transaction costs |
-7,376 |
0 |
|
Repayment by Draupnir Holding B.V. related to IPO bonus |
2,998 |
0 |
|
Proceeds from other financial liabilities |
0 |
2,353 |
|
Proceeds from short-term borrowings from banks |
25,000 |
0 |
|
Repayment of long-term borrowings from banks |
-25,000 |
0 |
|
Repayment of short-term borrowings from banks |
-25,000 |
0 |
|
Repayment of lease liabilities |
-2,637 |
-1,967 |
|
Repayment of other financial liabilities |
-13,734 |
-7,116 |
|
Net cash flow from financing activities |
130,928 |
-6,730 |
|
Net movement in cash and cash equivalents |
107,435 |
192 |
|
|
|
|
|
Cash and cash equivalents at the beginning of the year |
17,208 |
17,508 |
|
Net foreign currency exchange differences |
11,660 |
-492 |
|
Cash and cash equivalents at the end of the year |
136,303 |
17,208 |