|
2021 £m |
2022 £m |
2023 £m |
2024 £m |
2025 £m |
| Consolidated income statement |
|
|
|
|
|
| Continuing operations |
|
|
|
|
|
| Revenue |
2,222.5 |
2,944.6 |
2,966.0 |
2,986.7 |
3,087.3 |
| Underlying EBITDA |
185.9 |
205.6 |
293.1 |
321.4 |
327.3 |
| Underlying operating profit |
88.5 |
108.6 |
180.9 |
212.6 |
218.2 |
| Underlying net finance costs |
(8.9) |
(15.1) |
(27.5) |
(21.2) |
(20.9) |
| Underlying profit before taxation |
79.6 |
93.5 |
153.4 |
191.4 |
197.3 |
| Underlying taxation |
(18.9) |
(20.3) |
(38.8) |
(43.9) |
(45.2) |
| Underlying profit for the period |
60.7 |
73.2 |
114.6 |
147.5 |
152.1 |
| Non-underlying items(1) |
(5.1) |
(28.2) |
(24.8) |
(4.8) |
(9.0) |
| Profit/(loss) for the period |
55.6 |
45.0 |
89.8 |
142.7 |
143.1 |
| Underlying EBITDA (IAS 17 covenant basis) |
153.2 |
177.7 |
259.3 |
287.1 |
289.7 |
| Consolidated balance sheet |
|
|
|
|
|
| Working capital |
149.6 |
303.4 |
261.5 |
232.0 |
193.6 |
| Property, plant and equipment |
443.4 |
486.5 |
480.2 |
461.4 |
456.9 |
| Intangible and other non-current assets |
228.0 |
203.1 |
185.9 |
204.3 |
214.3 |
| Net debt (statutory) |
(193.3) |
(298.9) |
(237.3) |
(126.9) |
(28.9) |
| Other net liabilities |
(199.7) |
(197.3) |
(172.3) |
(174.1) |
(191.7) |
| Net assets |
428.0 |
496.8 |
518.0 |
596.7 |
644.2 |
| Net debt (IAS 17 covenant basis) |
(119.4) |
(218.8) |
(146.2) |
(29.5) |
59.7 |
| Key performance indicators (underlying) |
|
|
|
|
|
| Diluted earnings per share from continuing operations (p) |
84.2 |
100.7 |
153.9 |
199.9 |
211.3 |
| Dividend per share (p) |
35.9 |
37.7 |
45.2 |
49.7 |
70.4 |
| Operating margin |
4.0% |
3.7% |
6.1% |
7.1% |
7.1% |
| Return on capital employed(2) |
13.9% |
14.9% |
22.8% |
28.2% |
30.7% |
| Net debt : EBITDA (statutory) |
1.0x |
1.5x |
0.8x |
0.4x |
0.1x |
| Net debt : EBITDA (IAS 17 covenant basis) |
0.8x |
0.2x |
0.6x |
0.1x |
-0.2x |
(1) Non-underlying items are items which are exceptional by their size and/or are non-trading in nature and are disclosed separately in the financial statements where it is necessary to do so to provide further understanding of the financial position of the Group.
(2) Calculated as underlying operating profit expressed as a percentage of average capital employed. ‘Capital employed’ is net assets before non-controlling interests plus net debt and net defined benefit retirement liabilities.