Statement of Cash Flows

for the financial year ended 31 December 2025

	Notes	2025 €’000	2024 €’000
Net cash from operating activities	14	685,241	597,827

Cash flows from investing activities
Payments for property, plant and equipment		(1,236,508)	(1,242,482)
Payments for intangible assets		(91,832)	(50,838)
Interest received	14	6,100	-
Receipts for amounts owed from Local Authorities	25	-	1,075
Cash (outflow)/inflow to/from financial assets		(199,008)	62,942
Cash inflow from grants related to assets	19	162	977
Net cash used in investing activities		(1,521,086)	(1,228,326)

Cash flows from financing activities
Proceeds from borrowings	16	100,000	644,060
Repayments of borrowings	16	(100,000)	(460,000)
Repayment of lease liabilities	9	(5,122)	(4,103)
Cash capital contributions received	24	801,000	571,704
Net cash from financing activities		795,878	751,661

Net (decrease)/incease in cash and cash equivalents		(39,967)	121,162
Cash and cash equivalents at 1 January		416,836	295,674
Cash and cash equivalents at 31 December	12	376,869	416,836