| GBP millions | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 | Trend | YoY |
|---|---|---|---|---|---|---|---|---|
| Net income | (91.6) | 224.1 | 465.4 | 494.5 | 385.7 | 342.6 | −11.2% | |
| Depreciation & amortization | 305.6 | 254.1 | 269.2 | 284.6 | 275.4 | 0.0 | −100.0% | |
| Stock-based compensation | 0.0 | 0.0 | 0.0 | 23.4 | 0.8 | 0.0 | −100.0% | |
| Change in working capital | 53.0 | (157.9) | (240.7) | (23.4) | 283.3 | (198.4) | −170.0% | |
| Operating cash flow | 496.9 | 482.4 | 514.3 | 682.2 | 943.4 | 475.5 | −49.6% | |
| Capital expenditure | (220.4) | (323.2) | (469.4) | (267.2) | (411.7) | (654.8) | −59.0% | |
| Acquisitions | (18.8) | 31.8 | 33.3 | (35.9) | (48.9) | (105.6) | −116.0% | |
| Investing cash flow | (289.9) | (123.5) | (201.4) | (355.8) | (1,211.5) | (682.1) | +43.7% | |
| Dividends paid | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | — | |
| Share buybacks | (4.3) | (193.2) | (155.3) | (126.4) | 0.0 | 0.0 | — | |
| Debt issued / repaid | (195.5) | (110.0) | (78.2) | 56.5 | 387.0 | 0.0 | −100.0% | |
| Financing cash flow | (278.7) | (479.2) | (320.4) | (297.6) | 161.9 | 337.7 | +108.6% | |
| Free cash flow | 276.5 | 159.2 | 44.9 | 415.0 | 531.7 | (179.3) | −133.7% | |
| Net change in cash | (77.0) | (120.2) | (3.9) | 25.7 | (106.4) | 136.7 | +228.5% |
Amounts are shown in the stated units; per-share amounts and shares are unscaled. Negative amounts are in brackets.
