Profitable Growth mid-term outlook Q3 2023
September 2023 YTD | Cash Flow
The cash generation during the period is lower mainly due to €29.5M of reimbursement of Swiss subsidies and repayment of a Covid-19
loan for €15.3M.
€m
IFRS EBITDA
Change in Trade Working Capital
YTD
YTD
2023
2022
31.0
8.0
27.2
57.2
Change in Other Assets & Liabilities
(30.3)
4.0
Income Tax (paid) / collected
(1.9)
(3.6)
Cash Flow from operating activities
26.0
65.6
Cash Flow from investing activities
(11.0)
(12.4)
Financing and equity movements
(11.1)
(15.7)
Repayment of lease liabilities
(3.9)
(2.9)
Cash Flow from financing activities
(15.0)
(18.7)
Net increase / (decrease) in Gross
(0.1)
34.6
Cash
Highlights YtD Sept 2023
Business Working Capital: The lower positive effect in
FY 23 is linked to the increase in trade and other
receivables during the period, as a result of the higher
amounts of deposit & balance as a method of payment.
The increase in receivables from a cash flow perspective
is a lower cash in.
Other Assets & Liabilities: The amount of YTD 23
mainly includes the cash out for repayment of Swiss
subsidiaries in connection with the SECO administrative
procedure.
Financing & Equity movements: in 2023 the Group has
fully repaid a Covid-19 loan for €15.3M and has reduced
the amount of credit lines drawn. The amount also
includes the interest paid during the period. In 2023 the
Group has benefited from the subsequent annulment of
the Freesailors transaction with a positive effect of
€15.3M on Gross Cash.
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