| GBP millions | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 | Trend | YoY |
|---|---|---|---|---|---|---|---|---|
| Net income | (177.0) | 19.3 | 59.6 | 48.8 | 68.0 | — | — | |
| Depreciation & amortization | 120.9 | 116.8 | 109.6 | 102.4 | 115.7 | 119.4 | +3.1% | |
| Stock-based compensation | 10.3 | 5.9 | 10.5 | 11.0 | 0.0 | — | — | |
| Change in working capital | 14.6 | 3.2 | 33.4 | (22.2) | (2.6) | 33.5 | +1388.5% | |
| Operating cash flow | (35.3) | 119.3 | 362.4 | 172.6 | 193.2 | 204.2 | +5.7% | |
| Capital expenditure | (22.3) | (45.9) | (47.0) | (110.3) | (92.8) | (31.9) | +65.6% | |
| Acquisitions | 2.6 | 10.5 | 11.3 | (11.9) | (24.1) | — | — | |
| Investing cash flow | (57.7) | (112.2) | (67.2) | (98.6) | (108.8) | — | — | |
| Dividends paid | 0.0 | 0.0 | 0.0 | 0.0 | (19.5) | (13.3) | +31.4% | |
| Share buybacks | (7.7) | (12.8) | (12.3) | (39.5) | (89.5) | — | — | |
| Debt issued / repaid | (95.0) | 4.3 | (237.0) | (8.2) | 6.7 | — | — | |
| Financing cash flow | (36.0) | (12.2) | (248.4) | (103.9) | (102.9) | — | — | |
| Free cash flow | (57.6) | 73.5 | 315.5 | 62.3 | 100.4 | 177.9 | +77.2% | |
| Net change in cash | (129.0) | (5.1) | 46.8 | (29.9) | (18.6) | — | — |
Amounts are shown in the stated units; per-share amounts and shares are unscaled. Negative amounts are in brackets.
