Land Securities Group Cash Flow Statement

Financials in millions GBP. Fiscal year is April - March.

Millions GBP. Fiscal year is Apr - Mar.

Fiscal Year	FY 2026	FY 2025	FY 2024	FY 2023	FY 2022
Period Ending	Mar '26 Mar 31, 2026	Mar '25 Mar 31, 2025	Mar '24 Mar 31, 2024	Mar '23 Mar 31, 2023	Mar '22 Mar 31, 2022
Net Income	343	396	-319	-619	869
Depreciation & Amortization	2	3	2	3	3
Other Amortization	-	1	2	2	2
Gain (Loss) on Sale of Assets	103	15	16	144	-109
Gain (Loss) on Sale of Investments	-2	-	-3	-	-2
Asset Writedown	-96	-69	629	832	-410
Restructuring Activities	7	-	-	-	-
Stock-Based Compensation	9	6	8	6	4
Income (Loss) on Equity Investments	-52	-37	-2	1	-33
Change in Accounts Receivable	-56	-128	-32	-17	28
Change in Other Net Operating Assets	-71	43	-14	-80	21
Other Operating Activities	27	26	51	70	8
Operating Cash Flow	214	256	338	342	381
Operating Cash Flow Growth	-16.41%	-24.26%	-1.17%	-10.24%	63.52%
Acquisition of Real Estate Assets	-529	-781	-465	-449	-491
Sale of Real Estate Assets	734	404	176	1,269	265
Net Sale / Acq. of Real Estate Assets	205	-377	-289	820	-226
Cash Acquisition	-	-18	-	-	-399
Investment in Marketable & Equity Securities	11	12	17	14	22
Other Investing Activities	-	-	-	-	-4
Investing Cash Flow	216	-383	-272	834	-607
Long-Term Debt Issued	300	963	708	394	1,053
Long-Term Debt Repaid	-338	-562	-427	-1,407	-489
Net Debt Issued (Repaid)	-38	401	281	-1,013	564
Repurchase of Common Stock	-27	-	-	-	-
Common Dividends Paid	-290	-305	-291	-289	-190
Other Financing Activities	-8	-8	-19	21	-12
Net Cash Flow	67	-39	37	-105	136
Cash Interest Paid	180	144	101	92	84
Levered Free Cash Flow	274.5	96	248.38	260.75	157.5
Unlevered Free Cash Flow	352	167.25	313.38	300.75	200.63
Change in Working Capital	-127	-85	-46	-97	49

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