Statement of Cash Flows
For the financial year ended 31 December 2016
| Note | 1 Jan 2016 to 31 Dec 2016 €000 |
12 Sept 2014 to 31 Dec 2015 €000 |
|
|---|---|---|---|
| Cashflows from operating activities | |||
| On-lending loans issued | (420,000) | (235,000) | |
| Interest receipts | 2,657 | 569 | |
| Interest payments | (516) | (443) | |
| Reimbursement of fees by on-lenders | 204 | 49 | |
| Operating expenses paid | (4,922) | (4,110) | |
| Net cash used by operating activities | (422,577) | (238,935) | |
| Cashflows from investing activities | |||
| Interest received | - | 106 | |
| Interest paid | (114) | - | |
| Purchase of intangible assets | (321) | (529) | |
| Net cash from investing activities | (435) | (423) | |
| Cashflows from financing activities | |||
| Funding loans received | 310,000 | 350,000 | |
| Minister for Agriculture, Food and Marine funding | 17 | 13,914 | - |
| Issuance of share capital | 21 | - | 10,000 |
| Net cash from financing activities | 323,914 | 360,000 | |
| Cash and cash equivalents at the beginning of the period | 120,642 | - | |
| Cash and cash equivalents at the end of the period | 21,544 | 120,642 |