| GBP millions | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | Trend | YoY |
|---|---|---|---|---|---|---|---|---|
| Net income | 65.6 | 101.5 | 139.2 | 193.8 | 136.4 | 76.2 | −44.1% | |
| Depreciation & amortization | 211.8 | 217.9 | 196.5 | 251.3 | 307.4 | 334.6 | +8.9% | |
| Stock-based compensation | 2.5 | 3.7 | 4.6 | 5.2 | 3.7 | 0.0 | −100.0% | |
| Change in working capital | (15.1) | (33.3) | (2.5) | (9.6) | 53.1 | 37.6 | −29.2% | |
| Operating cash flow | 253.0 | 295.9 | 357.3 | 378.4 | 16.5 | 462.7 | +2712.6% | |
| Capital expenditure | (312.8) | (346.7) | (407.3) | (569.3) | (14.2) | (689.4) | −4753.7% | |
| Acquisitions | 213.7 | 131.0 | 119.1 | 285.4 | 233.5 | 203.5 | −12.9% | |
| Investing cash flow | (94.8) | (215.7) | (288.2) | (285.9) | (11.3) | (487.7) | −4227.7% | |
| Dividends paid | (24.9) | (43.9) | (52.2) | (56.2) | (59.0) | (59.5) | −0.8% | |
| Share buybacks | 0.0 | (7.5) | (52.9) | (24.9) | (5.3) | 0.0 | +100.0% | |
| Debt issued / repaid | (82.5) | 19.3 | 96.8 | 33.1 | 125.0 | 137.1 | +9.7% | |
| Financing cash flow | (167.8) | (71.4) | (73.0) | (110.2) | (2.6) | 28.5 | +1183.8% | |
| Free cash flow | (59.8) | (50.8) | (50.0) | (192.9) | 2.2 | (226.7) | −10184.2% | |
| Net change in cash | (56.7) | 13.4 | (10.4) | (18.5) | 2.9 | (10.3) | −448.0% |
Amounts are shown in the stated units; per-share amounts and shares are unscaled. Negative amounts are in brackets.
