| GBP millions | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | Trend | YoY |
|---|---|---|---|---|---|---|---|---|
| Net income | (532.6) | (138.1) | (540.0) | (248.4) | (180.5) | (63.7) | +64.7% | |
| Depreciation & amortization | 105.3 | 169.5 | 203.2 | 214.5 | 90.2 | 90.9 | +0.7% | |
| Stock-based compensation | 331.6 | 0.0 | 10.7 | 16.7 | 0.0 | 0.0 | — | |
| Change in working capital | 26.1 | (65.3) | 23.5 | 48.2 | 22.1 | (21.8) | −198.8% | |
| Operating cash flow | 40.4 | (1.7) | 12.2 | 141.8 | 96.5 | (10.1) | −110.4% | |
| Capital expenditure | (239.4) | (189.2) | (176.4) | (125.7) | (31.7) | (4.0) | +87.3% | |
| Acquisitions | (112.0) | (768.5) | (5.7) | (20.3) | (0.0) | 101.4 | +440904.3% | |
| Investing cash flow | (351.3) | (959.1) | (182.1) | (77.1) | (92.1) | 33.5 | +136.4% | |
| Dividends paid | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | — | |
| Share buybacks | (1.9) | 0.0 | (0.1) | 0.0 | 0.0 | 0.0 | — | |
| Debt issued / repaid | (114.4) | (36.2) | 156.0 | (25.0) | (23.8) | (149.8) | −529.2% | |
| Financing cash flow | 772.3 | 724.0 | 106.9 | (122.3) | (22.9) | (149.0) | −550.3% | |
| Free cash flow | (199.0) | (190.9) | (164.3) | 16.1 | 29.0 | (14.1) | −148.6% | |
| Net change in cash | 461.3 | (236.8) | (63.0) | (57.6) | (107.5) | (125.5) | −16.7% |
Amounts are shown in the stated units; per-share amounts and shares are unscaled. Negative amounts are in brackets.
