Future Cash Flow Statement

Financials in millions GBP. Fiscal year is October - September.

Millions GBP. Fiscal year is Oct - Sep.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep '25 Sep 30, 2025	Sep '24 Sep 30, 2024	Sep '23 Sep 30, 2023	Sep '22 Sep 30, 2022	Sep '21 Sep 30, 2021
Net Income	66.3	76.8	113.4	122.2	66.1
Depreciation & Amortization	71.3	83.6	79.8	80.4	57.4
Other Amortization	4.1	3.9	3.7	2.8	1.7
Asset Writedown & Restructuring Costs	15.2	4.7	10.3	6.6	9.8
Stock-Based Compensation	5.5	8.3	7.6	11.3	10
Other Operating Activities	-19.5	-7.2	-11	-2.3	16
Change in Accounts Receivable	5.7	6.2	7.6	-3.8	8.9
Change in Inventory	-0.9	0.9	-0.1	-0.2	-0.2
Change in Accounts Payable	-30.7	-4.6	-16.4	-14.9	-4.2
Change in Other Net Operating Assets	0.3	-2.8	-12.1	0.5	0.2
Operating Cash Flow	117.3	169.8	182.8	202.6	165.7
Operating Cash Flow Growth	-30.92%	-7.11%	-9.77%	22.27%	103.56%
Capital Expenditures	-3.3	-2.8	-2	-2.6	-3.7
Cash Acquisitions	-3.4	-7.9	-47.5	-113.1	-169.3
Sale (Purchase) of Intangibles	-12.9	-11.1	-9.3	-9	-7.4
Other Investing Activities	-	-	-	8	-
Investing Cash Flow	-19.6	-21.8	-58.8	-116.7	-180.4
Short-Term Debt Issued	-	-	-	1	-
Long-Term Debt Issued	345	140	375.1	95.7	559.4
Total Debt Issued	345	140	375.1	96.7	559.4
Short-Term Debt Repaid	-	-	-4.2	-	-4.6
Long-Term Debt Repaid	-341.2	-239.9	-422.7	-472.5	-219.7
Total Debt Repaid	-341.2	-239.9	-426.9	-472.5	-224.3
Net Debt Issued (Repaid)	3.8	-99.9	-51.8	-375.8	335.1
Repurchase of Common Stock	-102.8	-63.1	-24.5	-7.9	-4.9
Common Dividends Paid	-3.7	-3.9	-4.1	-3.4	-1.6
Other Financing Activities	-6.3	-	-6.5	-1.9	-7.1
Financing Cash Flow	-109	-166.9	-86.9	-389	321.5
Foreign Exchange Rate Adjustments	-0.8	-1.7	-6	8	-1.8
Net Cash Flow	-12.1	-20.6	31.1	-295.1	305
Free Cash Flow	114	167	180.8	200	162
Free Cash Flow Growth	-31.74%	-7.63%	-9.60%	23.46%	101.24%
Free Cash Flow Margin	15.42%	21.19%	22.92%	24.23%	26.70%
Free Cash Flow Per Share	1.07	1.45	1.50	1.65	1.43
Cash Interest Paid	1.5	1.7	2.3	2.1	0.9
Cash Income Tax Paid	42.9	33.7	33.6	50.1	25.7
Levered Free Cash Flow	84.08	177.89	185.55	206.88	150.51
Unlevered Free Cash Flow	98.98	193.74	204.35	215.76	153.69
Change in Working Capital	-25.6	-0.3	-21	-18.4	4.7

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