- Part 2: For the preceding part double click ID:nRSQ5981Ha
0.6 0.1
Depreciation and amortisation - Joint venture and associates 0.2 0.4
Long term employee incentive costs 4 4.9 1.7
Exceptional items 5 2.7 1.0
Foreign exchange gains and losses (0.2) 0.6
Underlying EBITDA 3 32.6 14.1
Underlying EBITDA is the main measure of profitability used by the Group and
is defined as earnings before finance income and costs, taxation, depreciation
and amortisation and additionally excludes the Group's share of depreciation
and amortisation of joint venture and associates, long term employee incentive
costs, exceptional items, foreign exchange gains and losses and 'other
gains'.
Consolidated Statement of Other Comprehensive Income
Year ended 31 December 2014
Year Year
ended 31 December2014 ended 31 December2013
£m £m
Profit for the year 51.8 6.8
Items that may be reclassified subsequently to profit or loss
Exchange differences on translation of foreign operations (2.7) 0.1
Exchange differences on translation of foreign operations reclassified to income statement on disposal 3.5 -
0.8 0.1
Items that will not be reclassified subsequently to profit or loss
Tax on share options 2.3 -
Other comprehensive income for the year 3.1 0.1
Total comprehensive income for the year 54.9 6.9
Attributable to:
Owners of the Company 55.1 7.1
Non-controlling interests (0.2) (0.2)
Total comprehensive income for the year 54.9 6.9
Consolidated Balance Sheet
As at 31 December 2014
As at 31 December 2014£m As at 31 December 2013£m
Non-current assets
Goodwill 51.2 10.2
Other intangible assets 12.7 3.4
Property, plant and equipment 7.2 5.5
Investment in joint venture - 7.4
Investments in associates 13.2 0.4
Deferred tax assets 2.5 0.9
86.8 27.8
Current assets
Inventories 0.9 0.8
Trade and other receivables 10.2 3.9
Current tax assets 0.7 0.2
Cash and cash equivalents 164.4 61.6
Associate held for sale 0.2 -
Derivative financial instrument 0.4
176.8 66.5
Total assets 263.6 94.3
Current liabilities
Trade and other payables (59.1) (33.4)
Current tax liabilities (2.0) (1.1)
Deferred revenue (4.0) (4.0)
Provisions for liabilities (0.2) -
Borrowings (0.3) -
(65.6) (38.5)
Net current assets 111.2 28.0
Non-current liabilities
Deferred tax liabilities (2.9) (0.4)
Deferred revenue (1.3) (1.2)
Provisions for liabilities (9.3) (0.1)
Other long-term liabilities (0.7) (0.5)
(14.2) (2.2)
Total liabilities (79.8) (40.7)
Net assets 183.8 53.6
Equity
Share capital 5.7 -
Share premium account 120.5 55.8
Other reserves (6.3) 1.3
Retained earnings/(accumulated losses) 63.1 (3.9)
Equity attributable to owners of the Company 183.0 53.2
Non-controlling interests 0.8 0.4
Total equity 183.8 53.6
Consolidated Statement of Changes in Equity
Year ended 31 December 2014
Share capital Share premium account Shares to be issued Other reserves Retained earnings Total Non-controlling interest Total equity
£m £m £m £m £m £m £m £m
1 January 2013 0.1 55.6 0.1 1.4 (10.4) 46.8 (0.3) 46.5
Profit for the year - - - - 7.0 7.0 (0.2) 6.8
Other comprehensive income - - - 0.1 - 0.1 - 0.1
Issue of capital - 0.1 (0.1) - - - - -
Share based payment charge - - - - 1.7 1.7 - 1.7
Adjustments arising from changes in NCI - - - - (2.2) (2.2) 0.9 (1.3)
Treasury shares - - - (0.2) - (0.2) - (0.2)
Transfer to share premium (0.1) 0.1 - - - - - -
31 December 2013 - 55.8 - 1.3 (3.9) 53.2 0.4 53.6
Profit for the year - - - - 52.0 52.0 (0.2) 51.8
Other comprehensive income - - - (2.7) - (2.7) - (2.7)
Reclassified to income statement - - - 3.5 - 3.5 - 3.5
Issue of capital (net of costs) 0.5 96.7 - (0.6) - 96.6 - 96.6
Share based payment charge - - - - 4.4 4.4 - 4.4
Tax on share options - - - - 2.3 2.3 - 2.3
JSOP subscription - 13.2 - (7.9) - 5.3 - 5.3
Exercise of JSOP awards - - 0.1 - 0.1 - 0.1
Adjustment arising on justeat.in - - - - 0.2 0.2 - 0.2
NCI arising on acquisitions - - - - - - 0.6 0.6
Bonus share issue 5.2 (5.2) - - - - - -
Capital reduction - (40.0) - - 40.0 - - -
Dividend for year - - - - (18.1) (18.1) - (18.1)
Forward contracts to acquire non-controlling interests - - - - (13.8) (13.8) - (13.8)
31 December 2014 5.7 120.5 - (6.3) 63.1 183.0 0.8 183.8
Consolidated Cash Flow Statement
Year ended 31 December 2014
Notes Year Year
ended 31 December2014 ended 31 December2013
£m £m
Net cash from operating activities 11 38.1 19.2
Investing activities