ended 30 September 2022
|
EUR 000 |
2021/2022 |
2020/2021* |
|
|
Profit for the year |
- |
- |
|
|
Adjustments for: |
|||
|
Income tax expense |
12 |
2,066 |
1,275 |
|
Impairment trade receivables and contract assets |
181 |
– |
|
|
Depreciation and amortization |
14, 15 |
35,469 |
35,992 |
|
Net impairment loss |
14 |
528 |
– |
|
Finance income |
10 |
-188 |
-158 |
|
Finance expenses |
11 |
7,629 |
8,687 |
|
Gain on sale of shares in KPMG Investments Malta Ltd. |
-4,634 |
– |
|
|
Cash flows before movements in working capital and provisions |
41,051 |
45,796 |
|
|
Change in contract assets |
5 |
-1,885 |
-4,264 |
|
Change in receivables |
17 |
-25,447 |
-685 |
|
Change in other assets |
482 |
-16 |
|
|
Change in contract liabilities |
5 |
7,780 |
11,190 |
|
Change in trade and other payables |
24 |
6,720 |
-210 |
|
Change in provisions |
23 |
-613 |
299 |
|
Change in employee benefits |
22 |
5,867 |
21,314 |
|
Cash flows from operating activities |
33,954 |
73,424 |
|
|
Income tax paid |
-1,681 |
-906 |
|
|
Net cash from operating activities |
32,273 |
72,518 |
|
|
Acquisition of property, plant and equipment |
15 |
-6,685 |
-3,474 |
|
Investment in software |
14 |
-1,574 |
-1,134 |
|
Net proceeds of sale of shares in KPMG Investments Malta Ltd. |
4,634 |
– |
|
|
Net cash used in investing activities |
-3,625 |
-4,608 |
|
|
Addition to share premium by partners |
2,160 |
2,230 |
|
|
Net proceeds/(repayment) of loans and borrowings from partners |
21 |
20,277 |
53,422 |
|
Net proceeds/(repayment) of loans and borrowings from former partners |
21 |
532 |
-5,700 |
|
Interest paid to Coöperatie KPMG U.A. re partners and former partners |
11 |
-4,530 |
-4,324 |
|
Repayment of share premium to Coöperatie KPMG U.A. |
-990 |
-1,510 |
|
|
Interest and bank charges paid |
-3,126 |
-4,412 |
|
|
Interest received |
10 |
188 |
158 |
|
Payment of lease liabilities |
-29,830 |
-29,005 |
|
|
Proceeds of employee bonds |
21 |
1,977 |
1,243 |
|
Repayment of employee bonds |
21 |
-632 |
-599 |
|
Net cash (used in)/from financing activities |
-13,974 |
11,503 |
|
|
Net change in cash and cash equivalents |
14,673 |
79,413 |
|
|
Cash and cash equivalents at 1 October |
164,594 |
85,181 |
|
|
Cash and cash equivalents at 30 September |
18 |
179,267 |
164,594 |
|
* The presentation of the 2020/2021 numbers has been adjusted for comparison purposes, reflecting the change in finance income related to a financial lease contract in cash from financing activities, that was included in cash flow from operating activities in prior year. |
|||
|
The accompanying notes are an integral part of these consolidated financial statements. |
|||