14. Cash Generated from Operations
Notes |
2025 €’000 |
2024 €’000 |
|
Cash flows from operating activities |
|||
Profit for the year |
345,083 |
278,605 |
|
Adjustments for: |
|||
Depreciation and amortisation |
242,034 |
217,161 |
|
Asset derecognition charge |
475 |
27 |
|
Net finance costs |
11,150 |
11,323 |
|
Retirement benefit cost |
(3,649) |
(200) |
|
Income tax expense |
51,126 |
42,499 |
|
646,219 |
549,415 |
||
Working capital changes: |
|||
Change in trade and other receivables |
(8,095) |
(82,851) |
|
Change in trade and other payables |
84,384 |
77,622 |
|
Change in deferred revenue |
(16,477) |
74,233 |
|
Change in provisions |
(i) |
(230) |
(2,410) |
Change in inventory |
(3,576) |
(52) |
|
Cash from operating activities before exceptional items |
702,225 |
615,957 |
|
Exceptional items: |
|||
Connection refunds cash issued |
(170,346) |
(82,475) |
|
Connection refunds cash received |
173,968 |
76,597 |
|
Domestic customer refunds and associated processing costs |
- |
(5) |
|
Domestic customer refunds cash received |
12 |
24 |
|
Cash from operating activities |
705,859 |
610,098 |
|
Interest paid |
(ii) |
(20,618) |
(12,271) |
Net cash from operating activities |
685,241 |
597,827 |
(i) Movements in provisions relating to operating activities are presented within “Change in provisions” in cash flows from operating activities, while movements in capital related provisions are presented within cash flows from investing activities in the statement of cash flows.
(ii) In 2025, interest paid amounted to €20.6 million, representing the full interest outflow for the year and is presented within net cash from operating activities, in line with accounting policies. Interest received of €6.1 million is disclosed separately on the Statement of Cash Flows within cash from investing activities. In 2024, interest paid of €12.3 million was presented net of interest received of €5.6 million.