Spire Healthcare : Half year results supporting document

Consolidated Balance Sheet		As at
	30 June 2021	31 December 2020	30 June 2020	31 December 2019
(£ million)	(Unaudited)	(Audited)	(Unaudited)	(Audited)
ASSETS
Non-current assets
Property, plant and equipment	1,520.6	1,535.3	1,537.6	1,563.4
Intangible assets	317.8	317.8	317.8	517.8
Financial asset	1.9	1.6	1.5	1.5
	1,840.3	1,854.7	1,856.9	2,082.7
Current assets
Inventories	35.3	37.6	34.4	32.0
Trade and other receivables	106.4	101.4	30.6	73.0
Income tax receivable	-	-	-	3.6
Cash and cash equivalents	116.1	106.3	90.9	90.8
	257.8	245.3	155.9	199.4
Non-current assets held for sale	4.8	4.8	5.1	5.1
	262.6	250.1	161.0	204.5
Total assets	2,102.9	2,104.8	2,017.9	2,287.2
EQUITY AND LIABILITIES
Equity
Share capital	4.0	4.0	4.0	4.0
Share premium	826.9	826.9	826.9	826.9
Capital reserves	376.1	376.1	376.1	376.1
EBT share reserves	(0.8)	(0.8)	(0.8)	(0.8)
Hedging reserve	(1.9)	(3.2)	(3.9)	(2.1)
Retained earnings	(511.6)	(496.4)	(496.5)	(264.2)
Equity attributable to owners of the Parent	692.7	706.6	705.8	939.9
Total equity	692.7	706.6	705.8	939.9
Non-current liabilities
Bank borrowings	420.2	418.6	419.9	419.1
Lease liability	670.7	670.3	662.7	667.8
Derivatives	0.1	1.5	2.6	1.5
Other payable	-	-	-	-
Deferred tax liability	75.8	53.9	53.2	51.4
	1,166.8	1,144.3	1.138.4	1,139.8
Current liabilities
Bank borrowings	2.2	2.2	1.6	1.7
Lease liability	79.9	79.2	7.6	77.5
Derivatives	2.3	2.5	2.2	1.0
Provisions	32.8	33.0	15.2	13.1
Trade and other payables	126.1	136.9	77.1	114.2
Income tax payable	0.1	0.1	-	-
	243.4	253.9	173.7	207.5
Total liabilities	1,410.2	1,398.2	1.312.1	1,347.3
Total equity and liabilities	2,102.9	2,104.8	2.017.9	2,287.2

Consolidated Statement of Cash Flows

	Six months ended	Year ended 31	Six months ended	Year ended 31
	30 June 2021
	December 2020	30 June 2020	December 2019
(£ million)	(unaudited)	(Audited)	(unaudited)	(Audited)
Cash flows from operating activities
(Loss) / profit before taxation	4.7	(231.0)	(231.3)	9.6
Adjustments for:
Depreciation	47.5	94.0	46.7	91.6
Adjusting Items, including impairment and held for sale revaluations	2.3	209.7	201.2	(1.9)
Share-based payments	1.7	1.7	0.8	1.0
Fair value movement on financial assets	(0.6)	-	(0.1)	-
(Profit) / Loss on disposal of property, plant and equipment	(0.1)	-	-	(0.2)
Finance costs	41.5	85.6	41.5	84.8
	97.0	160.0	58.8	184.9
Movements in working capital:
(Increase)/Decrease in trade and other receivables	(5.5)	(15.5)	42.4	8.1
Decrease/(Increase) in inventories	2.3	(5.6)	(2.4)	(2.6)
Decrease in trade and other payables	(8.0)	18.5	(28.9)	15.7
(Decrease)/increase in provisions	(0.1)	(1.3)	2.1	(3.3)
Cash generated from operations	85.7	156.1	72.0	202.8
Income tax received	-	3.6	3.6	(1.1)
Net cash from operating activities	85.7	159.7	75.6	201.7
Cash flows from investing activities
Purchase of property, plant and equipment	(31.6)	(46.6)	(28.1)	(60.6)
Proceeds of disposal of Sussex assets (Adjusting Item)	2.0	-	-	-
Proceeds from disposal of assets held for sale	-	-	-	11.6
Proceeds of disposal of property, plant and equipment	0.1	-	-	0.2
Interest received and income from financial asset	-	0.3	-	0.2
Net cash used in investing activities	(29.5)	(46.3)	(28.1)	(48.6)
Cash flows from financing activities
Bank interest paid	(6.5)	(18.1)	(7.8)	(17.4)
Lease interest paid	(32.7)	(66.4)	(29.0)	(58.1)
Payment of lease principal	(7.2)	(13.4)	(10.6)	(19.3)
Dividends paid to equity holders of parent		-	-	(15.2)
Net cash used in financing activities	(46.4)	(97.9)	(47.4)	(110.0)
Net increase in cash and cash equivalents	9.8	15.5	0.1	43.1
Cash and cash equivalents at beginning of period	106.3	90.8	90.8	47.7
Cash and cash equivalents at end of period	116.1	106.3	90.9	90.8