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v3.23.2

Note to cash flow statement | 12 Months Ended
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Mar. 31, 2023
Note to cash flow statement |
Note to cash flow statement | 23. Note to cash flow statement ​ The following table outlines the changes in the carrying value of net cash/(debt): ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | At March 31,
​ | ​ | 2023 | ​ | 2022 | ​ | 2021
​ |  | €M |  | €M |  | €M
Net debt at beginning of year |  | (1,451.6) |  | (2,276.5) |  | (403.2)
Changes from financing cashflows | ​ | ​ | ​ | ​ | ​ | ​
Increase in cash and cash equivalents in year, including net foreign exchange differences |  | 930.3 |  | 18.3 |  | 84.3
Increase/(decrease) in financial assets: cash > 3 months |  | 122.1 |  | 468.6 |  | (741.7)
Decrease in restricted cash |  | (3.2) |  | (11.4) |  | (0.3)
Net cash flow from decrease/(increase) in debt |  | 1,085.7 |  | 583.3 |  | (1,201.5)
Movement in net funds resulting from cash flows |  | 2,134.9 |  | 1,058.8 |  | (1,859.2)
​ | ​ | ​ | ​ | ​ | ​ | ​
Other changes | ​ | ​ | ​ | ​ | ​ | ​
Translation on U.S. dollar denominated debt | ​ | 0.9 | ​ | (4.2) | ​ | 15.7
Promissory notes | ​ | — | ​ | (225.9) | ​ | —
Lease additions | ​ | (122.1) | ​ | — | ​ | (25.2)
Interest expense | ​ | (3.3) | ​ | (3.8) | ​ | (4.6)
Movement from other changes | ​ | (124.5) | ​ | (233.9) | ​ | (14.1)
​ | ​ | ​ | ​ | ​ | ​ | ​
Net cash/(debt) at end of year |  | 558.8 |  | (1,451.6) |  | (2,276.5)
Analyzed as: |  |  |  |  |  |
Cash and cash equivalents, cash > 3 months and restricted cash |  | 4,675.0 |  | 3,625.8 |  | 3,150.3
Total borrowings* |  | (4,116.2) |  | (5,077.4) |  | (5,426.8)
Net cash/(debt) |  | 558.8 |  | (1,451.6) |  | (2,276.5)
​ *Total borrowings include current and non-current maturities of debt and current and non-current lease liabilities. ​ The following table outlines the changes in the carrying value of share premium: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | At March 31,
​ | ​ | ​ | ​ | 2023 | ​ | 2022 | ​ | 2021
​ | ​ | ​ |  | €M |  | €M |  | €M
Balance at beginning of year | ​ | ​ |  | 1,328.2 |  | 1,161.6 |  | 738.5
Changes from financing cashflows | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Net proceeds from shares issued | ​ | ​ |  | 31.7 |  | 46.8 |  | 423.1
Non-cash movement in share premium | ​ | ​ | ​ | 20.0 | ​ | 119.8 | ​ | —
Movement in net funds resulting from cash flows | ​ | ​ |  | 51.7 |  | 166.6 |  | 423.1
Balance at end of year | ​ | ​ |  | 1,379.9 |  | 1,328.2 |  | 1,161.6
​ ​ The following table outlines the changes in liabilities arising from financing activities: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | At March 31,
​ | ​ | ​ |  | 2023 |  | 2022 |  | 2021
​ | ​ | ​ |  | €M |  | €M |  | €M
Balance at beginning of year | ​ | ​ | ​ | (5,077.4) | ​ | (5,426.8) | ​ | (4,211.2)
Proceeds from borrowings | ​ | ​ | ​ | — | ​ | (1,192.0) | ​ | (2,228.6)
Repayments of borrowings | ​ | ​ | ​ | 1,039.4 | ​ | 1,722.3 | ​ | 950.3
Lease liabilities paid | ​ | ​ | ​ | 46.3 | ​ | 53.0 | ​ | 76.8
Lease additions | ​ | ​ | ​ | (122.1) | ​ | — | ​ | (25.2)
Interest expense | ​ | ​ | ​ | (3.3) | ​ | (3.8) | ​ | (4.6)
Foreign exchange | ​ | ​ | ​ | 0.9 | ​ | (4.2) | ​ | 15.7
Promissory notes | ​ | ​ | ​ | — | ​ | (225.9) | ​ | —
Balance at end of year | ​ | ​ | ​ | (4,116.2) | ​ | (5,077.4) | ​ | (5,426.8)
Less than one year | ​ | ​ | ​ | (1,099.9) | ​ | (1,281.4) | ​ | (1,778.4)
More than one year | ​ | ​ | ​ | (3,016.3) | ​ | (3,796.0) | ​ | (3,648.4)
​ | ​ | ​ | ​ | (4,116.2) | ​ | (5,077.4) | ​ | (5,426.8)
​

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