Make cash flow statement of Ryanair. Detect weaknesses and strengths. Consider uses and sources of cash flows.

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Consolidated Statement of Cash Flows Note Year ended Year ended Year ended March 31, March 31, March 31, 2018 2019 2017 €M €M €M Operating activities Profit after tax 885.0 1,450.2 1,315.9 Adjustments to reconcile profit after tax to net cash provided by operating activities Depreciation (Increase)/decrease in inventories Tax expense on profit Share-based payments (Increase)/decrease in trade receivables (Increase) in other assets Increase/(decrease) in trade payables Increase in accrued expenses (Decrease) in other creditors (Decrease) in provisions (Increase)/decrease in finance income (Decrease)/increase in finance expense Gain on sale of associate 2 640.5 561.0 497.5 (0.6) 161.1 6 0.8 0.2 12 63.1 154.4 18 7.7 6.4 5.7 (1.9) (2.1) (3.3) (14.1) (44.5) 8 11.8 (76.0) 324.2 63.5 198.6 241.1 144.7 (2.8) (2.5) (0.5) (1.5) (6.0) 15.8 (9.6) (0.1) (20.1) (11.0) 13 0.7 2.4 3.8 (0.2) 3 - Share of associate losses 3 Income tax paid Net cash provided by operating activities Investing activities Capital expenditure (purchase of property, plant and equipment) (Increase)/decrease in restricted cash Decrease in financial assets: cash > 3 months (100.9) 2,017.5 (118.9) 2,233.2 (161.6) 1,927.2 12 2 (1,546.7) (1,470.6) (1,449.8) (22.8) 774.0 9 (0.3) 1.2 646.1 157.8 Acquisition of subsidiary (net of cash acquired) Investment in associate (86.5) (15.0) (1,002.4) 3 3 (719.4) (1,290.8) Net cash used in investing activities Financing activities Shareholder returns (net of tax) Proceeds from long term borrowings Repayments of long term borrowings Net cash used in financing activities Increase/(decrease) in cash and cash equivalents Cash and cash equivalents at beginning of year Cash and cash equivalents at end of year (829.1) (1,017.9) (531.6) 99.9 11 65.2 793.4 (422.8) (447.1) (671.6) (35.2) 1,259.2 1,224.0 11 (458.9) 24 (854.5) (1,222.8) 160.6 291.0 1,515.0 1,675.6 1,224.0 1,515.0 11 Consolidated Statement of Cash Flows Note Year ended Year ended Year ended March 31, March 31, March 31, 2018 2019 2017 €M €M €M Operating activities Profit after tax 885.0 1,450.2 1,315.9 Adjustments to reconcile profit after tax to net cash provided by operating activities Depreciation (Increase)/decrease in inventories Tax expense on profit Share-based payments (Increase)/decrease in trade receivables (Increase) in other assets Increase/(decrease) in trade payables Increase in accrued expenses (Decrease) in other creditors (Decrease) in provisions (Increase)/decrease in finance income (Decrease)/increase in finance expense Gain on sale of associate 2 640.5 561.0 497.5 (0.6) 161.1 6 0.8 0.2 12 63.1 154.4 18 7.7 6.4 5.7 (1.9) (2.1) (3.3) (14.1) (44.5) 8 11.8 (76.0) 324.2 63.5 198.6 241.1 144.7 (2.8) (2.5) (0.5) (1.5) (6.0) 15.8 (9.6) (0.1) (20.1) (11.0) 13 0.7 2.4 3.8 (0.2) 3 - Share of associate losses 3 Income tax paid Net cash provided by operating activities Investing activities Capital expenditure (purchase of property, plant and equipment) (Increase)/decrease in restricted cash Decrease in financial assets: cash > 3 months (100.9) 2,017.5 (118.9) 2,233.2 (161.6) 1,927.2 12 2 (1,546.7) (1,470.6) (1,449.8) (22.8) 774.0 9 (0.3) 1.2 646.1 157.8 Acquisition of subsidiary (net of cash acquired) Investment in associate (86.5) (15.0) (1,002.4) 3 3 (719.4) (1,290.8) Net cash used in investing activities Financing activities Shareholder returns (net of tax) Proceeds from long term borrowings Repayments of long term borrowings Net cash used in financing activities Increase/(decrease) in cash and cash equivalents Cash and cash equivalents at beginning of year Cash and cash equivalents at end of year (829.1) (1,017.9) (531.6) 99.9 11 65.2 793.4 (422.8) (447.1) (671.6) (35.2) 1,259.2 1,224.0 11 (458.9) 24 (854.5) (1,222.8) 160.6 291.0 1,515.0 1,675.6 1,224.0 1,515.0 11

Answer rating: 100% (QA)

2019 2018 2017 Free Cash flows 4708 7626 4774 2019 2018 2017 Free Cash flows 2017515467 2233214706 1... View the full answer