FRA:A5SA Cash Flow Statement

Financials in millions GBP. Fiscal year is January - December.

Millions GBP. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Net Income	-384.3	-323.5	-228.1	-528.6	-191.6	-419.3
Depreciation & Amortization	299.1	353.7	383	94.4	76.8	58.1
Other Amortization	-	-	-	224.7	132.5	96.7
Loss (Gain) From Sale of Assets	0.1	0.1	2.6	-	-	-
Asset Writedown & Restructuring Costs	-	-	-	-	-	79.3
Stock-Based Compensation	4.8	4.8	5.4	-	-	-
Other Operating Activities	281.1	203.7	65.1	350.6	105.6	84.4
Change in Accounts Receivable	106.7	106.7	-82.3	0.1	-75.4	67.4
Change in Inventory	-12.8	-12.8	11.9	-78.4	7.7	-4.8
Change in Accounts Payable	-33.8	-33.8	50.9	81.5	52.8	-118.6
Change in Other Net Operating Assets	-175	-175	-62.6	-17.2	70.5	-41.8
Operating Cash Flow	85.9	123.9	145.9	127.1	178.9	-198.6
Operating Cash Flow Growth	36.13%	-15.08%	14.79%	-28.95%	-	-
Capital Expenditures	-42.7	-88.7	-91.1	-58.6	-40.7	-81
Sale (Purchase) of Intangibles	-311.9	-311.9	-306.3	-228.3	-144	-179.7
Investment in Securities	18.7	18.7	-	-	-	-
Other Investing Activities	7.1	7.1	13.5	2.2	1.1	2.3
Investing Cash Flow	-328.8	-374.8	-383.4	-284.7	-184.1	-258.4
Long-Term Debt Issued	-	1,470	49.5	75.7	127.5	1,330
Long-Term Debt Repaid	-	-1,174	-177.6	-242.7	-87.2	-1,185
Net Debt Issued (Repaid)	295.6	295.6	-128.1	-167	40.3	145
Issuance of Common Stock	111.2	111.2	325.9	653.9	-	812.8
Other Financing Activities	-75.7	-191	-138.1	-171.9	-106.8	-117.6
Financing Cash Flow	331.1	215.8	59.7	315	-66.5	840.2
Foreign Exchange Rate Adjustments	2.3	2.3	-13.1	7	1.2	-1.7
Net Cash Flow	90.5	-32.8	-190.9	164.4	-70.5	381.5
Free Cash Flow	43.2	35.2	54.8	68.5	138.2	-279.6
Free Cash Flow Growth	-	-35.77%	-20.00%	-50.43%	-	-
Free Cash Flow Margin	3.25%	2.22%	3.36%	4.96%	12.62%	-45.70%
Free Cash Flow Per Share	0.04	0.04	0.07	0.16	1.20	-3.62
Cash Interest Paid	122	122	122.5	141.2	118	82.3
Cash Income Tax Paid	0.9	0.9	5.6	6.8	9	9.2
Levered Free Cash Flow	-	-301.66	-274.34	-102.63	-92.45	-324.25
Unlevered Free Cash Flow	-	-202.1	-172.4	8.94	7.55	-259
Change in Working Capital	-114.9	-114.9	-82.1	-14	55.6	-97.8

Source: S&P Global Market Intelligence. Standard template. Financial Sources.