Annual Overview
2017 £’000 | 2018 £’000 | 2019 £'000 | 2020 £'000 | 2021 £'000 | |
---|---|---|---|---|---|
Revenue | 154,553 | 156,291 | 140,015 | 178,016 | 154,096 |
EBITDA (see below) | 37,152 | 26,404 | 16,246 | 30,101 | 18,679 |
Operating profit | |||||
Adjusted* | 26,534 | 16,040 | (4,676) | 5,386 | (6,454) |
Reported | 17,194 | 8,660 | (18,802) | (5,517) | (19,978) |
Profit after tax | |||||
Adjusted* | 24,998 | 11,229 | (19,010) | 2,702 | (19,281) |
Reported | 14,660 | 1,189 | (35,128) | (2,893) | (31,002) |
Net cash flow from operations | |||||
Before adjustments | 31,089 | 16,982 | 16,530 | 36,324 | 17,940 |
Reported | 29,717 | 16,988 | 8,948 | 35,457 | 18,883 |
Free cash flow** | |||||
Before exceptional cash flows | (2,945) | (26,045) | (25,445) | 23,566 | (1,640) |
Reported | (4,317) | (26,039) | (33,027) | 22,699 | (697) |
Net cash/(debt) | 45,612 | 20,807 | (15,970) | 1,923 | (5,804) |
Equity shareholders’ funds | 287,950 | 305,730 | 266,593 | 260,435 | 234,621 |
Basic EPS – adjusted* | 3.61p | 1.44p | (2.46p) | 0.29p | (2.41p) |
Basic EPS – unadjusted | 2.11p | 0.13p | (4.51p) | (0.41p) | (3.87p) |
Diluted EPS – adjusted* | 3.38p | 1.38p | (2.46p) | 0.29p | (2.41p) |
Diluted EPS – unadjusted | 1.98p | 0.12p | (4.51p) | (0.41p) | (3.87p) |
* Free cash flow is defined as net cash flow before acquisitions, contingent deferred consideration (settled through contractual discounts), financing and net interest paid. ** adjusted EPS measures exclude non-cash charges for share based payments, non-cash acquisition related charges and exceptional items.
** Free cash flow is defined as net cash flow before acquisitions, financing and net interest paid.
Adjusted EBITDA (adjusted earnings before interest, tax, depreciation and amortisation) is calculated as follows:
2020 £'000 | 2021 £'000 | |
---|---|---|
Loss attributable to equity shareholders | (3,271) | (31,002) |
Non-controlling interest | 378 | - |
Finance costs | 2,165 | 2,213 |
Tax | (1,001) | 8,811 |
Depreciation of property, plant and equipment | 12,983 | 13,309 |
Depreciation of right of use assets | 3,681 | 3,854 |
Amortisation of intangible fixed assets | 7,869 | 8,047 |
Loss/(profit) on disposal of PPE | 182 | (77) |
Share based payments | 265 | 1,691 |
Adjusted items | 6,850 | 11,833 |
Adjusted EBITDA | 30,101 | 18,679 |
Full details may be found in the Annual Report and Accounts 2021.