| Cash generated from operations |
16. Cash generated from operations
|
|
|
|
|
|
|
|
|
2022 |
|
2021 |
|
2020 |
|
|
$'000 |
|
$'000 |
|
$'000 |
Profit/(loss) before tax |
|
65,075 |
|
(271,729) |
|
(1,137) |
Adjustments for: |
|
|
|
|
|
|
Depreciation |
|
1,292 |
|
53 |
|
5 |
Change in trade and other receivables |
|
(17,949) |
|
(6,132) |
|
(173) |
Change in trade and other payables |
|
5,586 |
|
(1,290) |
|
(1,285) |
Share option charge |
|
22,915 |
|
166 |
|
122 |
Finance income |
|
— |
|
— |
|
(65) |
Interest payable |
|
221 |
|
1,078 |
|
393 |
Change in fair value of warrants |
|
(117,394) |
|
98,090 |
|
— |
Payment of interest portion of lease liabilities |
|
(197) |
|
— |
|
— |
IFRS 2 adjustment relating to reverse acquisition |
|
— |
|
155,460 |
|
— |
Cash (used in)/generated from operations |
|
(40,451) |
|
(24,304) |
|
(2,140) |
Reconciliation of net cashflow to movements in net debt: |
|
|
|
|
|
|
Opening net cash/(debt) |
|
86,966 |
|
(5,265) |
|
929 |
Convertible facilities received |
|
— |
|
(14,148) |
|
(1,680) |
Borrowings received |
|
— |
|
(5,042) |
|
— |
Net interest charge |
|
— |
|
(100) |
|
(332) |
Facilities converted |
|
— |
|
18,864 |
|
— |
Repayment of borrowings |
|
— |
|
6,120 |
|
— |
Movement in cash |
|
(28,975) |
|
86,765 |
|
(4,225) |
Movement on foreign exchange |
|
(9,025) |
|
(228) |
|
43 |
Movement in net cash/ (debt) |
|
(38,000) |
|
92,231 |
|
(6,194) |
Closing net cash/(debt) |
|
48,966 |
|
86,966 |
|
(5,265) |
Composition of closing net cash/(debt) |
|
|
|
|
|
|
Cash |
|
48,966 |
|
86,966 |
|
195 |
Bank loans |
|
— |
|
— |
|
(1,034) |
Convertible loans |
|
— |
|
— |
|
(4,426) |
Net cash/(debt) |
|
48,966 |
|
86,966 |
|
(5,265) |
|