| EUR millions | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | Trend | YoY |
|---|---|---|---|---|---|---|---|
| Net income | 355.0 | 391.0 | 426.0 | 341.0 | 236.0 | −30.8% | |
| Depreciation & amortization | 351.0 | 358.0 | 379.0 | 366.0 | 426.0 | +16.4% | |
| Stock-based compensation | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | — | |
| Change in working capital | (62.0) | 54.0 | (8.0) | (100.0) | 438.0 | +538.0% | |
| Operating cash flow | 654.0 | 405.0 | 500.0 | 413.0 | 709.0 | +71.7% | |
| Capital expenditure | (370.0) | (336.0) | (301.0) | (282.0) | (297.0) | −5.3% | |
| Acquisitions | (27.0) | (484.0) | (321.0) | (549.0) | (1,195.0) | −117.7% | |
| Investing cash flow | (539.0) | (819.0) | (743.0) | (871.0) | (1,461.0) | −67.7% | |
| Dividends paid | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | — | |
| Share buybacks | 0.0 | 0.0 | 0.0 | 0.0 | (31.0) | — | |
| Debt issued / repaid | 20.0 | 614.0 | 583.0 | 651.0 | 1,461.0 | +124.4% | |
| Financing cash flow | (75.0) | 505.0 | 299.0 | 495.0 | 1,176.0 | +137.6% | |
| Free cash flow | 284.0 | 69.0 | 199.0 | 131.0 | 412.0 | +214.5% | |
| Net change in cash | 191.0 | 91.0 | 52.0 | 42.0 | 454.0 | +981.0% |
Amounts are shown in the stated units; per-share amounts and shares are unscaled. Negative amounts are in brackets.
Statements are reported in EUR; the shares trade in GBP.
