| GBP millions | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 | Trend | YoY |
|---|---|---|---|---|---|---|---|---|
| Net income | (97.0) | 56.1 | (96.0) | 12.2 | 44.6 | — | — | |
| Depreciation & amortization | 81.7 | 67.4 | 69.0 | 54.3 | 55.2 | 59.7 | +8.2% | |
| Stock-based compensation | (0.2) | (0.3) | 1.1 | 1.2 | 2.6 | — | — | |
| Change in working capital | (9.7) | (6.2) | 3.0 | 27.0 | 9.3 | 3.6 | −61.3% | |
| Operating cash flow | (31.6) | 153.8 | 67.5 | 113.2 | 125.9 | 111.8 | −11.2% | |
| Capital expenditure | (22.2) | (40.6) | (44.1) | (46.7) | (58.5) | (50.2) | +14.2% | |
| Acquisitions | 25.2 | 8.2 | (0.4) | (0.8) | 3.8 | — | — | |
| Investing cash flow | 3.0 | (32.4) | (44.5) | (47.5) | (54.7) | — | — | |
| Dividends paid | 0.0 | 0.0 | 0.0 | 0.0 | (7.0) | (13.8) | −97.1% | |
| Share buybacks | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | — | — | |
| Debt issued / repaid | (8.7) | (40.6) | (16.5) | (20.9) | (11.5) | — | — | |
| Financing cash flow | 27.6 | (94.3) | (60.1) | (59.9) | (58.2) | — | — | |
| Free cash flow | (53.8) | 113.2 | 23.4 | 66.5 | 67.4 | 71.1 | +5.5% | |
| Net change in cash | (4.0) | 26.1 | (35.7) | 5.9 | 13.0 | — | — |
Amounts are shown in the stated units; per-share amounts and shares are unscaled. Negative amounts are in brackets.
