| GBP millions | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 | Trend | YoY |
|---|---|---|---|---|---|---|---|---|
| Net income | 2.8 | (12.4) | (91.8) | (108.0) | (225.4) | (326.3) | −44.8% | |
| Depreciation & amortization | 74.5 | 87.6 | 132.0 | 139.1 | 127.3 | 116.4 | −8.6% | |
| Stock-based compensation | 1.0 | 2.3 | 3.6 | 2.7 | 3.5 | 0.0 | −100.0% | |
| Change in working capital | (18.3) | (26.2) | 8.0 | (27.3) | (35.6) | 40.0 | +212.4% | |
| Operating cash flow | 57.5 | 68.1 | 89.1 | 55.2 | (2.2) | (4.5) | −104.5% | |
| Capital expenditure | (28.5) | (53.3) | (99.6) | (62.5) | (77.2) | (55.2) | +28.5% | |
| Acquisitions | (17.2) | (135.3) | (119.0) | (4.1) | (2.3) | 5.7 | +347.8% | |
| Investing cash flow | (45.7) | (188.6) | (218.6) | (38.1) | (32.0) | (46.5) | −45.3% | |
| Dividends paid | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | — | |
| Share buybacks | (30.0) | (0.6) | (7.8) | (3.2) | (1.1) | 0.0 | +100.0% | |
| Debt issued / repaid | (176.0) | (104.8) | (9.4) | 14.0 | 40.7 | 81.3 | +99.8% | |
| Financing cash flow | 163.0 | 30.4 | (41.1) | (17.9) | 16.9 | 49.6 | +193.5% | |
| Free cash flow | 29.0 | 14.8 | (10.5) | (7.3) | (79.4) | (59.7) | +24.8% | |
| Net change in cash | 170.1 | (86.8) | (167.6) | (3.2) | (18.9) | (9.2) | +51.3% |
Amounts are shown in the stated units; per-share amounts and shares are unscaled. Negative amounts are in brackets.
