Morgan Sindall Group 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	Jun '25 Jun 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	152.1	131.7	117.7	60.9	97.9	45.4
Depreciation & Amortization	35.7	33.6	29.7	24.9	22	25.1
Loss (Gain) From Sale of Assets	-0.6	-0.7	-0.1	-0.5	-0.5	-1
Asset Writedown & Restructuring Costs	2.4	-	-	-	-	0.6
Loss (Gain) From Sale of Investments	-5.1	-5.1	-	0.9	1.2	0.6
Loss (Gain) on Equity Investments	-6.5	-4.6	-14.1	-14.3	-5.4	-2.3
Stock-Based Compensation	10.4	10.5	6.6	9.7	12.1	-0.1
Other Operating Activities	1.9	-2.8	12.6	36.5	31.9	3.9
Change in Accounts Receivable	13.5	53.8	-83.8	-86.4	-154.8	56.6
Change in Inventory	-142.2	-131.3	-10.8	-45.4	5.7	43.9
Change in Accounts Payable	76.7	29.1	116.2	71.6	73.5	2.7
Change in Unearned Revenue	2.1	14.6	21.6	-4.3	22.9	-0.6
Operating Cash Flow	140.4	128.8	196	54.7	110.5	177.7
Operating Cash Flow Growth	-23.98%	-34.29%	258.32%	-50.50%	-37.82%	263.39%
Capital Expenditures	-10.7	-18.2	-14.3	-10.5	-6.7	-4.2
Sale of Property, Plant & Equipment	2.4	1.9	2	0.6	1.4	1.4
Cash Acquisitions	-	-	-	-	-	-0.1
Sale (Purchase) of Intangibles	-0.1	-	-0.3	-1.3	-1.3	-1.6
Investment in Securities	-10.1	-1.2	-10	16.3	-	8.8
Other Investing Activities	22.7	22.2	11.6	3.2	2.1	-11.7
Investing Cash Flow	4.2	4.7	-11	8.3	-4.5	-7.4
Long-Term Debt Issued	-	-	-	-	-	180.4
Long-Term Debt Repaid	-	-25.8	-21.2	-17.6	-15.2	-195.1
Net Debt Issued (Repaid)	-27.2	-25.8	-21.2	-17.6	-15.2	-14.7
Issuance of Common Stock	24.7	29.2	4.1	11.8	2	7.9
Repurchase of Common Stock	-39.2	-47.2	-11.3	-15.7	-33.6	-9.6
Common Dividends Paid	-61.9	-56.1	-48.1	-43.5	-32.3	-9.6
Other Financing Activities	-2	-1.9	-2.4	-1.8	-1.7	-3.8
Financing Cash Flow	-105.6	-101.8	-78.9	-66.8	-80.8	-29.8
Net Cash Flow	39	31.7	106.1	-3.8	25.2	140.5
Free Cash Flow	129.7	110.6	181.7	44.2	103.8	173.5
Free Cash Flow Growth	-22.84%	-39.13%	311.09%	-57.42%	-40.17%	377.96%
Free Cash Flow Margin	2.76%	2.43%	4.41%	1.22%	3.23%	5.72%
Free Cash Flow Per Share	2.66	2.28	3.87	0.95	2.17	3.75
Cash Interest Paid	2	1.9	2.4	1.8	1.7	3.8
Cash Income Tax Paid	44.1	43.9	25.2	20.3	28.3	19.9
Levered Free Cash Flow	128.54	113.88	166.56	65.55	40.13	157.31
Unlevered Free Cash Flow	132.41	117.63	169.38	68.11	42.75	160.75
Change in Working Capital	-49.9	-33.8	43.2	-64.5	-52.7	102.6

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