| GBP millions | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 | Trend | YoY |
|---|---|---|---|---|---|---|---|---|
| Net income | 107.5 | 15.4 | 0.1 | (9.5) | (56.8) | 91.5 | +261.1% | |
| Depreciation & amortization | 119.4 | 146.7 | 154.7 | 171.9 | 187.0 | 193.7 | +3.6% | |
| Stock-based compensation | 3.1 | 2.2 | 2.4 | 1.2 | 2.0 | 0.0 | −100.0% | |
| Change in working capital | (73.4) | (50.9) | 47.6 | (51.1) | (66.4) | 32.2 | +148.5% | |
| Operating cash flow | 206.2 | 254.9 | 157.5 | 148.9 | 93.5 | 376.1 | +302.2% | |
| Capital expenditure | (190.3) | (229.0) | (331.2) | (598.9) | (668.6) | (629.4) | +5.9% | |
| Acquisitions | 3,628.9 | (410.6) | 0.7 | (62.7) | 1.9 | 4.7 | +147.4% | |
| Investing cash flow | 3,442.6 | (639.6) | (330.5) | (658.0) | (676.4) | (632.8) | +6.4% | |
| Dividends paid | (192.9) | (1,590.3) | (101.6) | (111.7) | (126.9) | (133.7) | −5.4% | |
| Share buybacks | (1.2) | (201.7) | (45.0) | (1.4) | (1.2) | (2.4) | −100.0% | |
| Debt issued / repaid | (935.4) | 11.6 | 22.7 | 405.8 | 591.5 | 354.2 | −40.1% | |
| Financing cash flow | (1,428.7) | (2,021.7) | (180.6) | 510.8 | 866.8 | 168.9 | −80.5% | |
| Free cash flow | 15.9 | 25.9 | (173.7) | (450.0) | (575.1) | (253.3) | +56.0% | |
| Net change in cash | 2,253.4 | (2,400.3) | (353.6) | 1.7 | 283.9 | (87.8) | −130.9% |
Amounts are shown in the stated units; per-share amounts and shares are unscaled. Negative amounts are in brackets.
