LON:PINE 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 2024	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Jan '24 Jan 31, 2024	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Net Income	50.3	6.22	75.42	45.5	61.5
Depreciation & Amortization	12.1	0.65	-26.12	0.2	32.4
Other Amortization	-	5.45	4.8	4.2	3.7
Loss (Gain) From Sale of Assets	-	-	-38.58	-7.7	-1.8
Asset Writedown & Restructuring Costs	-	-	-	4.8	9.6
Loss (Gain) on Equity Investments	1.6	0.55	-	-	-
Stock-Based Compensation	3.6	1.09	5.45	3.3	2.9
Other Operating Activities	-61	2.51	-71.35	-52.4	-3
Change in Accounts Receivable	0.3	-5.13	-42.37	-15.2	-1.1
Change in Inventory	-	-	35.54	-119.8	107.8
Change in Accounts Payable	-0.1	-1.42	36.65	150.8	-111.1
Change in Other Net Operating Assets	-	-	-52.89	-20.9	-36.8
Operating Cash Flow	6.8	9.93	44.68	76.1	63.2
Operating Cash Flow Growth	-31.50%	-77.78%	-41.29%	20.41%	113.51%
Capital Expenditures	-11.4	-8.18	-37.11	-44.3	-18.6
Sale of Property, Plant & Equipment	-	-	10.15	13.3	5.4
Cash Acquisitions	-13.5	-	-	-	-
Divestitures	10	-	-12.92	-	27.2
Investment in Securities	-	-14.4	-	-	-
Other Investing Activities	-	431.35	-6.09	-	-
Investing Cash Flow	-14.9	408.76	-43.75	-25.1	16.2
Long-Term Debt Issued	-	-	-	93.8	18.7
Long-Term Debt Repaid	-1.2	-	-	-112.7	-116
Total Debt Repaid	-1.2	-102	-21.23	-112.7	-116
Net Debt Issued (Repaid)	-1.2	-102	-21.23	-18.9	-97.3
Issuance of Common Stock	35.7	32.73	-	0.1	-
Repurchase of Common Stock	-	-	-	-0.5	-
Other Financing Activities	-1.6	-	-	-	-
Financing Cash Flow	32.9	-460.25	-21.23	-19.3	-97.3
Foreign Exchange Rate Adjustments	-	-	-	0.1	-0.5
Net Cash Flow	24.8	-41.56	-20.31	31.8	-18.4
Free Cash Flow	-4.6	1.75	7.57	31.8	44.6
Free Cash Flow Growth	-	-76.94%	-76.20%	-28.70%	-
Free Cash Flow Margin	-11.36%	5.13%	33.47%	166.49%	1.30%
Free Cash Flow Per Share	-0.04	0.02	0.05	0.44	0.63
Cash Interest Paid	0.2	0.22	56.86	40.2	30.1
Cash Income Tax Paid	0.6	0.11	6.09	1.4	7.1
Levered Free Cash Flow	11.93	-	-	391.98	76.36
Unlevered Free Cash Flow	12.11	-	-	391.98	98.18
Change in Working Capital	0.2	-6.55	-23.08	-5.1	-41.2

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