Ardonagh free cashflow declines to £7.8m as debt payments rise
Ardonagh’s free cashflow has deteriorated to £7.8m for the first nine months of this year as it pays off interest from its £2.68bn net debts.
The consolidator posted free cashflow of £43.8m in the same period last year, meaning its position has deteriorated by £36m.
Ardonagh detailed that discretionary investment spend increased to £48.4m, from £34.5m, however it is being impacted by higher interest payments, paying £169.4m so far this year compared to £108.8m at the same point in 2021 (see graphic below).
Free cashflow is an important figure because it shows how much money a business generates once all expenses – including debt
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