| GBP millions | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | Trend | YoY |
|---|---|---|---|---|---|---|---|---|
| Net income | (13.0) | 117.5 | 120.3 | 142.5 | 153.4 | 122.2 | −20.3% | |
| Depreciation & amortization | 112.8 | 107.4 | 115.5 | 125.0 | 140.0 | 160.6 | +14.7% | |
| Stock-based compensation | 0.9 | 2.2 | 3.6 | 4.6 | 4.5 | 1.5 | −66.7% | |
| Change in working capital | (59.1) | 52.4 | (3.0) | 5.7 | 6.0 | 29.8 | +396.7% | |
| Operating cash flow | 44.2 | 285.5 | 252.9 | 310.8 | 310.9 | 337.0 | +8.4% | |
| Capital expenditure | (61.6) | (54.3) | (103.3) | (198.1) | (240.9) | (263.3) | −9.3% | |
| Acquisitions | 1.8 | 0.3 | 2.5 | 0.0 | 0.0 | 0.9 | — | |
| Investing cash flow | (59.8) | (54.0) | (100.8) | (191.2) | (217.1) | (284.5) | −31.0% | |
| Dividends paid | 0.0 | (15.3) | (98.5) | (60.8) | (66.1) | (70.3) | −6.4% | |
| Share buybacks | (0.5) | (10.0) | (11.0) | (5.0) | (5.0) | 0.0 | +100.0% | |
| Debt issued / repaid | 0.0 | 0.0 | 0.0 | 0.0 | (56.7) | 25.0 | +144.1% | |
| Financing cash flow | (38.9) | (69.7) | (159.1) | (115.9) | (163.8) | (107.0) | +34.7% | |
| Free cash flow | (17.4) | 231.2 | 149.6 | 112.7 | 70.0 | 73.7 | +5.3% | |
| Net change in cash | (54.5) | 161.8 | (7.0) | 3.7 | (70.0) | (54.5) | +22.1% |
Amounts are shown in the stated units; per-share amounts and shares are unscaled. Negative amounts are in brackets.
