Atotech Reports Second Quarter 2021 Results and Raises 2021 Full Year Guidance

ATOTECH LIMITED
Consolidated Statement of Cash Flows

  Six months ended 
(unaudited)
($ in millions) June 30, 2021 June 30, 2020
Operating activities   
Consolidated net income (loss)$(41.9)$(322.8)
Adjustments to reconcile net income (loss) to cash provided by operating activities:  
Depreciation and amortization 88.4  360.3 
Income taxes and changes in non-current provisions 31.0  20.4 
(Gains)/losses on disposals of assets 0.5  0.2 
Net (gain)/loss on financial instruments at fair value 40.8  10.1 
Accrued financial interest costs 44.9  64.4 
Amortization of deferred financing cost, including original issuance discounts 55.4  7.5 
Interest paid (43.1) (64.5)
Taxes paid (64.6) (28.8)
Other (5.7) 0.8 
(Increase)/decrease in inventories (30.0) (33.1)
(Increase)/decrease in trade receivables   3.3     35.9  
Increase/(decrease) in trade payables   0.9     (20.9 )
Changes in other assets and liabilities   (43.4 )   (20.6 )
Cash flow provided by operating activities   36.8     8.8  
Investing activities    
Intangible assets and property, plant and equipment additions   (22.1 )   (22.7 )
Increase in non-current loans   (0.1 )   (0.0 )
Proceeds from disposals of intangible assets and property, plant and equipment   3.3     0.1  
Repayments of non-current loans   0.1     0.2  
Cash flow used in investing activities   (18.8 )   (22.4 )
Financing activities    
Issuance of shares   473.4      
Issuance of non-current debt   130.1     175.0  
Repayment of non-current debt   (678.9 )   (83.0 )
Increase (decrease) in current borrowings and bank debt   2.1     (1.4 )
Increase (decrease) in current financial assets and liabilities   (0.2 )   (0.3 )
Payment of lease liabilities   (7.8 )   (7.2 )
Payment of deferred finance costs       (9.2 )
Cash flow used in financing activities   (81.3 )   73.9  
Net decrease in cash and cash equivalents   (63.3 )   60.3  
Effect of exchange rates   (7.3 )   (3.7 )
Cash and cash equivalents at the beginning of the period   320.0     302.7  
Cash and cash equivalents at the end of the period $ 249.4   $ 359.3  

ATOTECH LIMITED

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