LON:LWDB Cash Flow Statement

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

Millions GBP. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Net Income	304.67	96.95	75.15	-86.35	148.83
Depreciation & Amortization	1.89	1.66	1.66	1.63	1.42
Other Amortization	0.74	0.68	0.52	0.31	0.15
Asset Writedown & Restructuring Costs	-	17.04	-	-	-
Loss (Gain) From Sale of Investments	-262.65	-76.3	-37.38	126.23	-121.17
Other Operating Activities	3.38	6.58	5.55	5.51	4.93
Change in Accounts Receivable	2.53	5.68	-3.22	0.2	-4.42
Change in Accounts Payable	1.4	-4.39	2.03	-9.6	1.92
Change in Unearned Revenue	0.32	0.46	1.2	-0.48	-
Change in Other Net Operating Assets	-0.45	-1.47	-1.29	1.33	-
Operating Cash Flow	51.82	46.88	44.23	38.78	31.67
Operating Cash Flow Growth	10.54%	5.98%	14.06%	22.47%	-0.43%
Capital Expenditures	-0.16	-0.27	-0.87	-0.15	-1.08
Cash Acquisitions	-	-	-	-	-18.21
Sale (Purchase) of Intangibles	-0.34	-0.28	-0.05	-0.64	-
Investment in Securities	-52.96	-0.51	-36.84	-24.76	-59.66
Other Investing Activities	-	0.74	1.2	-0.16	-
Investing Cash Flow	-53.45	-0.32	-36.57	-25.71	-78.95
Long-Term Debt Issued	50	-	-	-	50
Long-Term Debt Repaid	-1.26	-1.3	-1.27	-0.51	-0.37
Net Debt Issued (Repaid)	48.74	-1.3	-1.27	-0.51	49.63
Issuance of Common Stock	11.64	12.41	24.24	41.51	32.81
Repurchase of Common Stock	-0.61	-1.23	-0.8	-	-1.75
Common Dividends Paid	-45.63	-43.01	-40.52	-37.17	-34.92
Other Financing Activities	-7.13	-6.29	-6.54	-6.54	-5.28
Financing Cash Flow	7.01	-39.42	-24.9	-2.71	40.49
Foreign Exchange Rate Adjustments	0.04	-0.22	-0.89	3.32	0.61
Miscellaneous Cash Flow Adjustments	-	-	0	-	0.31
Net Cash Flow	5.42	6.92	-18.12	13.68	-5.88
Free Cash Flow	51.67	46.61	43.36	38.63	30.59
Free Cash Flow Growth	10.85%	7.50%	12.24%	26.28%	-0.43%
Free Cash Flow Margin	13.80%	26.48%	32.51%	-	15.49%
Free Cash Flow Per Share	0.39	0.36	0.33	0.31	0.25
Cash Interest Paid	7.13	6.29	6.54	6.54	5.28
Cash Income Tax Paid	5.33	0.77	-	0.7	0.31
Levered Free Cash Flow	192.68	67.89	51.56	-59.99	94.4
Unlevered Free Cash Flow	197.32	72.15	55.82	-55.71	97.7
Change in Working Capital	3.8	0.28	-1.28	-8.55	-2.5

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