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