UNBOUNCE - EXAMPLE PAGE-REPORT-ENTERPRISE DOCUMENT-KINGSPAN - Flipbook - Page 173
NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 December 2021 (continued)
29 Reconciliation of Net Cash Flow to Movement in Net Debt
2021
€m
2020
€m
Movement in cash and bank overdrafts
Drawdown of loans
Repayment of loans and borrowings
Settlement of derivative financial instruments
Change in net debt resulting from cash flows
Translation movement - relating to US dollar loan
Translation movement – other
Derivative financial instruments movement
Net movement
(731.2)
(55.1)
263.2
(18.5)
(541.6)
(19.7)
42.7
(1.3)
(519.9)
1,180.2
(751.2)
3.4
432.4
13.5
(41.4)
(7.5)
397.0
Net debt at start of the year
(236.2)
(633.2)
Net debt at end of the year
(756.1)
(236.2)
Lease liabilities of €158.0m (2020: €114.8m) are excluded from net debt.
A reconciliation of liabilities arising from financing activities in 2021 is set out below.
Balance
1 Jan 2021
€m
Bank loans and borrowings
Loan notes
Derivatives
57.6
1,528.1
(19.8)
1,565.9
Repayments
€m
(50.0)
(213.2)
18.5
(244.7)
Drawdowns /
Receipts
€m
Non cash
movements
€m
Balance
31 Dec 2021
€m
12.6
42.5
55.1
0.2
19.7
1.3
21.2
20.4
1,377.1
1,397.5
Drawdowns /
Receipts
€m
Non cash
movements
€m
Balance
31 Dec 2020
€m
A reconciliation of liabilities arising from financing activities in 2020 is set out below.
Balance
1 Jan 2020
€m
Bank loans and borrowings
Loan notes
Derivatives
10.5
840.9
(27.3)
824.1
Repayments
€m
(3.4)
(3.4)
50.5
700.7
751.2
(13.5)
7.5
(6.0)
57.6
1,528.1
(19.8)
1,565.9
30 Guarantees and Other Financial Commitments
(i) Guarantees and contingencies
The Group’s principal debt facilities are secured by means of cross guarantees provided by Kingspan Group plc. These include drawn
private placement notes of US$200m (2020: US$400m) and €1,200.5m (2020: €1,200.5m) and an undrawn bank facility of €700m
(2020: €751m). During 2021, the bilateral 'Green Loan' of €50m was re-paid.
(ii) Future capital expenditure
Capital expenditure in subsidiary entities, approved by the directors but not provided in the financial statements, is as follows:
Contracted for
Not contracted for
Kingspan Group plc Annual Report & Financial Statements 2021
2021
€m
2020
€m
121.3
98.4
52.0
44.6
219.7
96.6
Financial Statements
