-------------- ---------------
Total liabilities 70,839 16,961
-------------- ---------------
Share Capital 12,696 6,579
Share premium 645,250 629,914
Other reserves 485,775 -
Equity reserves 1,795 433
Retained earnings (24,598) (6,037)
Total equity 1,120,918 630,889
------------- ----------------
Total liabilities and equity 1,191,757 647,850
============= ================
Consolidated Statements of Changes in Equity
For the fourteen month period ended 31 December 2011
Share Share Other Equity Retained Total
reserves
capital premium [1] reserves earnings
$'000 $'000 $'000 $'000 $'000 $'000
Balance at 30 October
2009 - - - - - -
-------- --------- --------- --------- --------- ----------
Loss for the period - - - - (6,037) (6,037)
Other comprehensive
loss for the period - - - - - -
-------- --------- --------- --------- --------- ----------
Total comprehensive
loss for the period - - - - (6,037) (6,037)
Issued share capital 6,579 643,398 - - - 649,977
Issue costs - (13,484) - - - (13,484)
Credit for equity-settled
share-based payments - - - 433 - 433
-------- --------- --------- --------- --------- ----------
Balance at 31 October
2010 6,579 629,914 - 433 (6,037) 630,889
-------- --------- --------- --------- --------- ----------
Loss for the period - - - - (41,439) (41,439)
Other comprehensive
loss for the period - - - - - -
-------- --------- --------- --------- --------- ----------
Total comprehensive
loss for the period - - - - (41,439) (41,439)
Issue of share capital 6,117 15,336 - - - 21,453
Other reserves - - 485,775 - - 485,775
Credit to retained
earnings relating
to Founders D shares - - - - 22,878 22,878
Credit to equity
for equity-settled
share based payments - - - 1,362 - 1,362
-------- --------- --------- --------- --------- ----------
Balance at 31 December
2011 12,696 645,250 485,775 1,795 (24,598) 1,120,918
[1] Other reserves arise as a consequence of the application of
merger relief to the acquisition of APR Group.
Consolidated Cash Flow Statement
For the fourteen month period ended 31 December 2011
14 months ended Year ended
31 December 31 October
2011 2010
Note $'000 $'000
Cash flows from operating activities
Loss for the period before taxation (32,959) (6,037)
Adjustments for:
Depreciation and amortisation 7, 8 85,581 -
Amortisation of debt issuance
costs 658 -
Amortisation of financial liabilities - 106
Unwinding of discounts on decommissioning
provisions/revisions of liability 9 610 -
Loss on sale or disposal of
fixed assets 8 1,012 -
Provision for bad debt 1,943 -
Equity-settled share-based payment
expense 1,362 433
Founder shares and securities
valuation 3 27,678 -
Gain on derivative instruments (2,258) -
Interest income (4,810) (4,592)
Interest expense 1,543 -
Movements in working capital:
Increase in trade and other
receivables (18,809) (2,310)
Increase in other current and
non-current assets (4,404) -
(Decrease)/increase in trade
and other payables (8,391) 812
Settlement of decommissioning
provisions 9 (837) -
Increase in other liabilities 2,804 -
---------------- -----------
50,723 (11,588)
Interest paid (2,224) -
Interest received 4,810 4,592
Income taxes paid (9,605) -
---------------- -----------
Net cash generated from operating
activities 43,704 (6,996)
---------------- -----------
Cash flows from investing activities
Purchases of property, plant
and equipment (195,802) -
Increase in deposits (16,044) -
Acquisition of subsidiary (net
of cash acquired) (329,084) -
Net cash used in investing activities (540,930) -
---------------- -----------
Cash flows from financing activities
Proceeds from the issue of share
capital - 649,977
Issue costs - (13,484)
Proceeds from the issue of Founder
shares and Founder securities - 16,043
Cash from borrowings 15,246 -
Repayment of borrowings (96,816) -
Debt issuance costs (3,762) -
Proceeds from deferred shares 79 -
---------------- -----------
Net cash (used in)/from financing
activities (85,253) 652,536
---------------- -----------
Net (decrease)/increase in cash
and cash equivalents (582,479) 645,540
Cash and cash equivalents, beginning
of the year 645,540 -
---------------- -----------
Cash and cash equivalents, end
of the year 63,061 645,540
================ ===========
Note 1 Basis of preparation
The consolidated financial information for APR Energy plc and
its subsidiaries (the "Company")
set out in this preliminary announcement has been derived from
the audited consolidated financial statements of the Company for
the period ended 31 December 2011 (the
"financial statements").
This preliminary announcement does not constitute the full
financial statements prepared in
accordance with International Financial Reporting Standards
("IFRSs"). The financial statements
were approved by the Board of directors on 15 April 2012.
Statutory accounts for 2010 have
been delivered to the Registrar of Companies and those for 2011
will be delivered in due course.
The report of the auditors on the financial statements was
unqualified, did not draw attention to any matters by way of
emphasis without qualifying their report, and did not contain a
statement under Section 498 (2) or (3) of the Companies Act 2006 or
equivalent preceding legislation.
When published, the annual report will be available from
www.aprenergy.com.
Note 2 Geographical information
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