| GBP millions | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | Trend | YoY |
|---|---|---|---|---|---|---|---|---|
| Net income | 92.2 | 264.2 | 37.6 | (900.4) | (357.4) | (556.8) | −55.8% | |
| Depreciation & amortization | 545.6 | 367.3 | 355.0 | 556.1 | 631.8 | 611.0 | −3.3% | |
| Stock-based compensation | 14.8 | 12.3 | 19.2 | 23.6 | 13.3 | 12.1 | −9.0% | |
| Change in working capital | (127.6) | (86.8) | (45.9) | 609.0 | 22.0 | (48.0) | −318.2% | |
| Operating cash flow | 710.3 | 631.8 | 643.8 | 448.1 | 579.3 | 656.8 | +13.4% | |
| Capital expenditure | (164.2) | (176.2) | (212.0) | (260.6) | (298.3) | (106.9) | +64.2% | |
| Acquisitions | (17.9) | (479.3) | (534.4) | (1,271.3) | (3.9) | 1.1 | +128.2% | |
| Investing cash flow | (243.9) | (849.3) | (921.5) | (1,521.6) | (316.5) | (338.5) | −7.0% | |
| Dividends paid | (12.4) | (24.5) | (50.0) | (106.9) | (116.3) | (122.1) | −5.0% | |
| Share buybacks | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | — | |
| Debt issued / repaid | (30.0) | 231.1 | 566.6 | 351.7 | 275.8 | 132.5 | −52.0% | |
| Financing cash flow | (119.7) | (30.4) | 442.3 | 829.3 | (58.7) | (375.5) | −539.7% | |
| Free cash flow | 546.1 | 455.6 | 431.8 | 187.5 | 281.0 | 549.9 | +95.7% | |
| Net change in cash | 316.6 | (219.6) | 171.4 | (257.9) | 188.3 | (34.8) | −118.5% |
Amounts are shown in the stated units; per-share amounts and shares are unscaled. Negative amounts are in brackets.
