WH Smith
SMWH · Main Market · Retail · mcap £563m · 373.2p
Financials · balance sheet 28 Feb 26 · last twelve months · today’s market value
Source: results 23 Apr 26 ↗
- Market cap
- £471.9m
- Owner’s net cash
- −£496.0m
- Net cash / market cap
- -105%
- EV ex leases
- £1,002m
- Revenue
- £1,585m
- Operating profit
- £31.0m
- Free cash flow after leases
- £4.0m
- EV / EBIT
- 32.3×
- FCF yield
- 0.8%
- ROCE
- 5%
- Net income (owners)
- −£122.0m
Share price × shares in issue (from the company’s voting-rights notices)flags: shares_older_than_120d
Net cash ex leases − Pension deficit − Deferred consideration − Paid out since−£496.0m − £0.0m − £0.0m − £0.0m = −£496.0m
Owner’s net cash ÷ Market cap−£496.0m ÷ £471.9m
Market cap + Borrowings − Cash + Pension deficit + Deferred consideration + Non-controlling interests − Associates & JVs + Paid out since£471.9m + £544.0m − £48.0m + £0.0m + £0.0m + £36.0m − £2.0m + £0.0m = £1,002m
Revenue, last twelve monthsLTM to 2026-02-28
Operating profit, last twelve monthsLTM to 2026-02-28
Cash from operations − Capex (PP&E) − Capex (intangibles) − Lease principal paid − Lease interest paid£180.0m − £85.0m − £7.0m − £84.0m − £0.0m
EV ex leases ÷ Operating profit (LTM)£1,002m ÷ £31.0m
Free cash flow after leases ÷ Market cap£4.0m ÷ £471.9m
Operating profit (LTM) ÷ (Total assets − Current liabilities)£31.0m ÷ (£1,449m − £866.0m) = £31.0m ÷ £583.0m
Net income (owners), last twelve monthsLTM to 2026-02-28
Market value
- Market cap
- £471.9m
Share price × shares in issue (from the company’s voting-rights notices)flags: shares_older_than_120d
Cash and debt · balance sheet 2026-02-28
- Cash
- £48.0m
- Borrowings
- £544.0m
- Net cash / (debt) ex leases
- −£496.0m
- Lease liabilities
- £514.0m
- Owner’s net cash
- −£496.0m
- Net cash / market cap
- -105%
- Cash − total liabilities
- −£1,240m
Balance sheet 2026-02-28
Borrowings, current + Borrowings, non-current£544.0m + £0.0m
Cash − Borrowings£48.0m − £544.0m = −£496.0m
Lease liabilities, current + non-current (left out of net cash and EV ex leases)£99.0m + £415.0m
Net cash ex leases − Pension deficit − Deferred consideration − Paid out since−£496.0m − £0.0m − £0.0m − £0.0m = −£496.0m
Owner’s net cash ÷ Market cap−£496.0m ÷ £471.9m
Cash − Total liabilities (the strictest view: cash covers everything owed)£48.0m − £1,288m = −£1,240m
Last twelve months · LTM to 2026-02-28
- Revenue
- £1,585m
- Operating profit
- £31.0m
- EBITDA (pre-IFRS 16)
- –
- Net income (owners)
- −£122.0m
- Cash from operations
- £180.0m
- Free cash flow after leases
- £4.0m
Revenue, last twelve monthsLTM to 2026-02-28
Operating profit, last twelve monthsLTM to 2026-02-28
Operating profit + Depreciation (owned assets) + Amortisation
Net income (owners), last twelve monthsLTM to 2026-02-28
Cash from operations, last twelve monthsLTM to 2026-02-28
Cash from operations − Capex (PP&E) − Capex (intangibles) − Lease principal paid − Lease interest paid£180.0m − £85.0m − £7.0m − £84.0m − £0.0m
Enterprise value
- EV ex leases
- £1,002m
- EV incl. leases
- £1,516m
Market cap + Borrowings − Cash + Pension deficit + Deferred consideration + Non-controlling interests − Associates & JVs + Paid out since£471.9m + £544.0m − £48.0m + £0.0m + £0.0m + £36.0m − £2.0m + £0.0m = £1,002m
EV ex leases + Lease liabilities£1,002m + £514.0m
Valuation at today’s market cap
- EV / EBIT
- 32.3×
- EV / EBITDA
- –
- FCF yield
- 0.8%
- Price / book
- 2.93×
- Tangible book
- −£284.0m
- Price / tangible book
- –
- NCAV (net current asset value)
- −£1,004m
- Price / NCAV
- –
- Net-net working capital
- −£1,112m
EV ex leases ÷ Operating profit (LTM)£1,002m ÷ £31.0m
EV ex leases ÷ EBITDA (pre-IFRS 16)£1,002m ÷ –
Free cash flow after leases ÷ Market cap£4.0m ÷ £471.9m
Market cap ÷ Total equity£471.9m ÷ £161.0m
Total equity − Goodwill − Other intangibles£161.0m − £401.0m − £44.0m
Market cap ÷ Tangible book£471.9m ÷ −£284.0m
Current assets − Total liabilities£284.0m − £1,288m
Market cap ÷ NCAV£471.9m ÷ −£1,004m
Cash + 75% × Trade receivables + 50% × Inventories − Total liabilities£48.0m + 0.75 × £77.0m + 0.5 × £140.0m − £1,288m
Returns and quality
- ROCE
- 5%
- ROE
- -76%
- Current ratio
- 0.33×
- Net debt / EBITDA
- –
- Accruals ratio
- -20.8%
Operating profit (LTM) ÷ (Total assets − Current liabilities)£31.0m ÷ (£1,449m − £866.0m) = £31.0m ÷ £583.0m
Net income (owners, LTM) ÷ Total equity−£122.0m ÷ £161.0m
Current assets ÷ Current liabilities£284.0m ÷ £866.0m
(Borrowings − Cash) ÷ EBITDA (pre-IFRS 16)£496.0m ÷ –
(Net income − Cash from operations) ÷ Total assets – high: profit not backed by cash(−£122.0m − £180.0m) ÷ £1,449m
H1 Feb 26 vs H1 Feb 25 · results 23 Apr 26 ↗
- Revenue
- £748m +4%
- Operating profit
- £0k −100%
- Net income
- −£27.0m prior −£49.0m
- Cash from operations
- −£4.0m prior £92.0m
Hover or tap a figure for its formula and the values used – the names are the line names of the key figures below. Extracted automatically from the company's results announcements; check the source before relying on a figure. Not investment advice.
The statement exactly as printed in one results announcement – its own columns (the period and its comparatives), lines and headings, in the company's currency and units. Choose the report above; to compare several years, use Key figures.
Standardised line items in £m, comparable across companies; when a later report restated a period, the later figure is shown and marked r (hover for the figure first reported). Italic = calculated (LTM, H2 = FY − H1); a year of other than 12 months is marked (15m). Hover a value for its source.
Trading update 16 Sep 26in line6 figures since the last report
Q4 revenue up 4% on constant currency; full year profit c.£75m in line with expectations; net debt c.£325m.
| Full year Headline Group profit before tax | c.£75m | |
| Net debt position | c.£325m | |
| Leverage | around 2.0x | |
| Group revenue growth (FY) | 5% | |
| UK LFL revenue growth (Q4) | 4% | |
| North America LFL revenue growth (Q4) | (3)% |
As stated by the company, unaudited. Read it →
Latest report: H1 Feb 26 (six months to 28 Feb 26), published 23 Apr 26 · read the results ↗
| 6 months to 28 Feb 2026 (unaudited) Before non-underlying items 2 £m | 6 months to 28 Feb 2026 (unaudited) Non-underlying items 3 £m | 6 months to 28 Feb 2026 (unaudited) Total £m | 6 months to 28 Feb 2025 restated 1 (unaudited) Before non-underlying items 2 £m | 6 months to 28 Feb 2025 restated 1 (unaudited) Non-underlying items 3 £m | 6 months to 28 Feb 2025 restated 1 (unaudited) Total £m | 12 months to 31 Aug 2025 (audited) Before non-underlying items 2 £m | 12 months to 31 Aug 2025 (audited) Non-underlying items 3 £m | 12 months to 31 Aug 2025 (audited) Total £m | |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | 748 | - | 748 | 716 | - | 716 | 1,553 | - | 1,553 |
| Group operating profit/(loss) - continuing operations | 27 | (27) | - | 39 | (21) | 18 | 148 | (99) | 49 |
| Net finance costs | (25) | - | (25) | (22) | - | (22) | (46) | (1) | (47) |
| Profit/(loss) before tax - continuing operations | 2 | (27) | (25) | 17 | (21) | (4) | 102 | (100) | 2 |
| Income tax credit/(expense) | - | 4 | 4 | (4) | 3 | (1) | (44) | 18 | (26) |
| Profit/(loss) for the period - continuing operations | 2 | (23) | (21) | 13 | (18) | (5) | 58 | (82) | (24) |
| (Loss)/profit for the period - discontinued operations | - | (2) | (2) | 13 | (55) | (42) | 24 | (137) | (113) |
| Profit/(loss) for the period - total operations | 2 | (25) | (23) | 26 | (73) | (47) | 82 | (219) | (137) |
| Attributable to equity holders of the parent | (2) | (25) | (27) | 24 | (73) | (49) | 75 | (219) | (144) |
| Attributable to non-controlling interests | 4 | - | 4 | 2 | - | 2 | 7 | - | 7 |
| 2 | (25) | (23) | 26 | (73) | (47) | 82 | (219) | (137) | |
| Loss per share - continuing operations | |||||||||
| Basic | – | – | (20.0) | – | – | (5.5) | – | – | (24.4) |
| Diluted | – | – | (20.0) | – | – | (5.5) | – | – | (24.4) |
| Loss per share - total operations | |||||||||
| Basic | – | – | (21.6) | – | – | (38.3) | – | – | (113.4) |
| Diluted | – | – | (21.6) | – | – | (38.3) | – | – | (113.4) |
| 28 Feb 2026 (unaudited) £m | 28 Feb 2025 restated 1 (unaudited) £m | 31 Aug 2025 (audited) £m | |
|---|---|---|---|
| Non-current assets | |||
| Goodwill | 401 | 428 | 402 |
| Other intangible assets | 44 | 60 | 45 |
| Property, plant and equipment | 267 | 321 | 254 |
| Right-of-use assets | 393 | 467 | 367 |
| Investments in joint ventures | 2 | 2 | 2 |
| Non-current investments | 2 | 10 | 4 |
| Retirement benefit surplus | 1 | - | 1 |
| Deferred tax assets | 19 | 43 | 16 |
| Trade and other receivables | 36 | 25 | 25 |
| Total non-current assets | 1,165 | 1,356 | 1,116 |
| Current assets | |||
| Inventories | 140 | 212 | 148 |
| Trade and other receivables | 77 | 109 | 102 |
| Current tax receivable | 19 | 19 | 23 |
| Cash and cash equivalents | 48 | 39 | 71 |
| Total current assets | 284 | 379 | 344 |
| Total assets | 1,449 | 1,735 | 1,460 |
| Current liabilities | |||
| Trade and other payables | (222) | (275) | (318) |
| Bank overdrafts and other borrowings | (544) | (178) | (461) |
| Lease liabilities | (99) | (120) | (90) |
| Derivative financial liabilities | (1) | - | - |
| Current tax payable | - | - | (1) |
| Short-term provisions | - | (2) | (1) |
| Total current liabilities | (866) | (575) | (871) |
| Non-current liabilities | |||
| Bank loans and other borrowings | - | (315) | - |
| Long-term provisions | - | (15) | - |
| Lease liabilities | (415) | (481) | (394) |
| Deferred tax liabilities | (7) | - | (7) |
| Total non-current liabilities | (422) | (811) | (401) |
| Total liabilities | (1,288) | (1,386) | (1,272) |
| Total net assets | 161 | 349 | 188 |
| Shareholders' equity | |||
| Called up share capital | 28 | 28 | 28 |
| Share premium | 316 | 316 | 316 |
| Capital redemption reserve | 14 | 14 | 14 |
| Translation reserve | (16) | 10 | (15) |
| Other reserves | (254) | (267) | (254) |
| Retained earnings | 37 | 219 | 69 |
| Total equity attributable to equity holders of the parent | 125 | 320 | 158 |
| Non-controlling interests | 36 | 29 | 30 |
| Total equity | 161 | 349 | 188 |
| 6 months to 28 Feb 2026 (unaudited) £m | 6 months to 28 Feb 2025 restated 1 (unaudited) £m | 12 months to 31 Aug 2025 ( audited ) £m | |
|---|---|---|---|
| Operating activities | |||
| Cash generated from continuing operations | 20 | 99 | 330 |
| Interest paid 2 | (18) | (17) | (32) |
| Financing arrangement fees | (1) | - | (3) |
| Income taxes refunded/(paid) | 5 | (17) | (28) |
| Net cash (outflow)/inflow from operating activities - discontinued operations | (10) | 27 | 9 |
| Net cash (outflow)/inflow from operating activities | (4) | 92 | 276 |
| Investing activities | |||
| Purchase of property, plant and equipment | (46) | (38) | (77) |
| Purchase of intangible assets | (4) | (1) | (4) |
| (Payment)/receipt on settlement of financial instruments | - | (6) | 7 |
| Proceeds received from investments | 2 | 3 | 8 |
| Net cash inflow/(outflow) from investing activities - discontinued operations | 1 | (12) | (3) |
| Net cash outflow from investing activities | (47) | (54) | (69) |
| Financing activities | |||
| Dividends paid | (8) | (29) | (43) |
| Purchase of own shares for cancellation | - | (23) | (50) |
| Distributions to non-controlling interests | (3) | (4) | (7) |
| Net drawdown on borrowings | 78 | 61 | 24 |
| Capital repayments of obligations under leases 3 | (39) | (41) | (86) |
| Net cash outflow from financing activities - discontinued operations | - | (19) | (30) |
| Net cash inflow/(outflow) from financing activities | 28 | (55) | (192) |
| Net (decrease)/increase in cash and cash equivalents in the period | (23) | (17) | 15 |
| Opening cash and cash equivalents | 71 | 56 | 56 |
| Closing cash and cash equivalents | 48 | 39 | 71 |
| Before non-underlying items £m | Non-underlying items £m | Total £m | Before non-underlying items £m | Non-underlying items £m | Total £m | Accelerated supplier income recognition Before non-underlying items £m | Inventory related items Non-underlying items £m | Total restatement Total £m | |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | - | - | - | - | - | - | - | - | - |
| Group operating loss 1 | (13) | - | (13) | (7) | - | (7) | (20) | - | (20) |
| Finance costs | - | - | - | - | - | - | - | - | - |
| Profit/(loss) before tax - continuing operations | (13) | - | (13) | (7) | - | (7) | (20) | - | (20) |
| Income tax credit | 2 | - | 2 | 1 | - | 1 | 3 | - | 3 |
| Loss for the year - continuing operations | (11) | - | (11) | (6) | - | (6) | (17) | - | (17) |
| Profit/(loss) for the year - discontinued operations | - | - | - | - | - | - | - | - | - |
| Loss for the year - total operations | (11) | - | (11) | (6) | - | (6) | (17) | - | (17) |
| Attributable to equity holders of the parent | (8) | - | (8) | (5) | - | (5) | (13) | - | (13) |
| Attributable to non-controlling interests | (3) | - | (3) | (1) | - | (1) | (4) | - | (4) |
| (11) | - | (11) | (6) | - | (6) | (17) | - | (17) | |
| Total comprehensive income | (11) | (6) | (17) | – | – | – | – | – | – |
| 2025 £m | 2024 (restated 1 ) £m | 2023 (restated 1 ) £m | |
|---|---|---|---|
| Non-current assets | |||
| Goodwill | 402 | 426 | 436 |
| Other intangible assets | 45 | 64 | 69 |
| Property, plant and equipment | 254 | 316 | 270 |
| Right-of-use assets | 367 | 505 | 444 |
| Investments in joint ventures | 2 | 2 | 2 |
| Non-current investments | 4 | - | - |
| Retirement benefit surplus | 1 | - | - |
| Deferred tax assets | 16 | 37 | 45 |
| Trade and other receivables | 25 | 24 | 19 |
| Total non-current assets | 1,116 | 1,374 | 1,285 |
| Current assets | |||
| Inventories | 148 | 209 | 201 |
| Trade and other receivables | 102 | 126 | 101 |
| Retirement benefit surplus | - | 87 | - |
| Derivative financial asset | - | - | 1 |
| Current tax receivable | 23 | 2 | 3 |
| Cash and cash equivalents | 71 | 56 | 56 |
| Total current assets | 344 | 480 | 362 |
| Total assets | 1,460 | 1,854 | 1,647 |
| Current liabilities | |||
| Trade and other payables | (318) | (361) | (344) |
| Bank overdrafts and other borrowings | (461) | (117) | (84) |
| Lease liabilities | (90) | (125) | (116) |
| Derivative financial liabilities | - | - | (1) |
| Current tax payable | (1) | (1) | (1) |
| Short-term provisions | (1) | (4) | (1) |
| Total current liabilities | (871) | (608) | (547) |
| Non-current liabilities | |||
| Bank loans and other borrowings | - | (310) | (301) |
| Long-term provisions | - | (13) | (16) |
| Lease liabilities | (394) | (501) | (450) |
| Deferred tax liabilities | (7) | - | - |
| Total non-current liabilities | (401) | (824) | (767) |
| Total liabilities | (1,272) | (1,432) | (1,314) |
| Total net assets | 188 | 422 | 333 |
| Shareholders' equity | |||
| Called up share capital | 28 | 29 | 29 |
| Share premium | 316 | 316 | 316 |
| Capital redemption reserve | 14 | 13 | 13 |
| Translation reserve | (15) | (9) | 5 |
| Other reserves | (254) | (268) | (255) |
| Retained earnings | 69 | 315 | 202 |
| Total equity attributable to equity holders of the parent | 158 | 396 | 310 |
| Non-controlling interests | 30 | 26 | 23 |
| Total equity | 188 | 422 | 333 |
| 2025 £m | 2024 (restated 1 ) £m | |
|---|---|---|
| Operating activities | ||
| Cash generated from continuing operations | 330 | 249 |
| Interest paid 2 | (32) | (35) |
| Financing arrangement fees | (3) | (1) |
| Income taxes paid | (28) | (18) |
| Net cash inflow from operating activities - discontinued operations | 9 | 71 |
| Net cash inflow from operating activities | 276 | 266 |
| Investing activities | ||
| Purchase of property, plant and equipment | (77) | (97) |
| Purchase of intangible assets | (4) | (9) |
| Receipt from settlement of financial instruments | 7 | 9 |
| Acquisition of subsidiaries, net of cash acquired | - | (6) |
| Proceeds received from investments | 8 | - |
| Net cash outflow from investing activities - discontinued operations | (3) | (25) |
| Net cash outflow from investing activities | (69) | (128) |
| Financing activities | ||
| Dividends paid | (43) | (41) |
| Purchase of own shares for employee share schemes | - | (12) |
| Purchase of own shares for cancellation | (50) | - |
| Distributions to non-controlling interests | (7) | (6) |
| Net drawdown on borrowings | 24 | 33 |
| Capital repayments of obligations under leases 3 | (86) | (73) |
| Net cash outflow from financing activities - discontinued operations | (30) | (39) |
| Net cash outflow from financing activities | (192) | (138) |
| Net increase in cash and cash equivalents in the year | 15 | - |
| Opening cash and cash equivalents | 56 | 56 |
| Closing cash and cash equivalents | 71 | 56 |
| LTM Feb 26 | FY Aug 25 | FY Aug 24 | |
|---|---|---|---|
| Revenue to operating profit | |||
| Revenue | 1,585.0 | 1,553.0 | 1,473.0 |
| Adjusted EBITDA | 173.0 | 187.0 | 198.0 |
| Adjusted operating profit | 136.0 | 148.0 | – |
| Operating profit | 31.0 | 49.0 | 113.0 |
| Operating profit to net income | |||
| Finance costs | (50.0) | (47.0) | (48.0) |
| Profit before tax | (19.0) | 2.0 | 65.0 |
| Tax | (21.0) | (26.0) | (22.0) |
| Net income (owners) | (122.0) | (144.0) | 54.0 |
| Discontinued operations | (73.0) | (113.0) | 17.0 |
| Per share | |||
| EPS basic | (96.7p) | (113.4p) | 4,190.0p |
| EPS diluted | (96.7p) | (113.4p) | 4,120.0p |
| H1 Feb 26 | vs H1 Feb 25 | H2 Aug 25 | H1 Feb 25 | |
|---|---|---|---|---|
| Revenue to operating profit | ||||
| Revenue | 748.0 | +4% | 837.0 | 716.0 |
| Adjusted EBITDA | 48.0 | −23% | 125.0 | 62.0 |
| Adjusted operating profit | 27.0 | −31% | 109.0 | 39.0 |
| Operating profit | 0.0 | n/m | 31.0 | 18.0 |
| Operating profit to net income | ||||
| Finance costs | (25.0) | +14% | (25.0) | (22.0) |
| Profit before tax | (25.0) | n/m | 6.0 | (4.0) |
| Tax | 4.0 | n/m | (25.0) | (1.0) |
| Net income (owners) | (27.0) | n/m | (95.0) | (49.0) |
| Discontinued operations | (2.0) | −95% | (71.0) | (42.0) |
| Per share | ||||
| EPS basic | (21.6p) | – | (75.1p) | (38.3p) |
| EPS diluted | (21.6p) | – | (75.1p) | (38.3p) |
| LTM Feb 26 | FY Aug 25 | FY Aug 24 | |
|---|---|---|---|
| Operating activities | |||
| Cash from operations | 180.0 | 276.0 | 266.0 |
| Interest paid | (33.0) | (32.0) | (35.0) |
| Tax paid | (6.0) | (28.0) | (18.0) |
| Investing activities | |||
| Capex (PP&E) | (85.0) | (77.0) | (97.0) |
| Capex (intangibles) | (7.0) | (4.0) | (9.0) |
| Financing activities | |||
| Lease principal paid | (84.0) | (86.0) | (73.0) |
| Dividends paid | (22.0) | (43.0) | (41.0) |
| Share buybacks | (27.0) | (50.0) | 0.0 |
| H1 Feb 26 | vs H1 Feb 25 | H2 Aug 25 | H1 Feb 25 | |
|---|---|---|---|---|
| Operating activities | ||||
| Cash from operations | (4.0) | n/m | 184.0 | 92.0 |
| Interest paid | (18.0) | +6% | (15.0) | (17.0) |
| Tax paid | 5.0 | n/m | (11.0) | (17.0) |
| Investing activities | ||||
| Capex (PP&E) | (46.0) | +21% | (39.0) | (38.0) |
| Capex (intangibles) | (4.0) | +300% | (3.0) | (1.0) |
| Financing activities | ||||
| Lease principal paid | (39.0) | −5% | (45.0) | (41.0) |
| Dividends paid | (8.0) | −72% | (14.0) | (29.0) |
| Share buybacks | 0.0 | n/m | (27.0) | (23.0) |
| 28 Feb 26 | 31 Aug 25 | 31 Aug 24 | |
|---|---|---|---|
| Non-current assets | |||
| Goodwill | 401.0 | 402.0 | 426.0 |
| Other intangibles | 44.0 | 45.0 | 64.0 |
| Property, plant & equipment | 267.0 | 254.0 | 316.0 |
| Associates & JVs | 2.0 | 2.0 | – |
| Non-current assets | 1,165.0 | 1,116.0 | 1,374.0 |
| Current assets | |||
| Inventories | 140.0 | 148.0 | 209.0 |
| Trade receivables | 77.0 | 102.0 | – |
| Cash | 48.0 | 71.0 | 56.0 |
| Current assets | 284.0 | 344.0 | 480.0 |
| Total assets | 1,449.0 | 1,460.0 | 1,854.0 |
| Current liabilities | |||
| Trade payables | 222.0 | 318.0 | 361.0 |
| Borrowings, current | 544.0 | 461.0 | 117.0 |
| Lease liabilities, current | 99.0 | 90.0 | 125.0 |
| Current liabilities | 866.0 | 871.0 | 608.0 |
| Non-current liabilities | |||
| Borrowings, non-current | 0.0 | 0.0 | 310.0 |
| Lease liabilities, non-current | 415.0 | 394.0 | 501.0 |
| Pension surplus / (deficit) | 1.0 | 1.0 | – |
| Non-current liabilities | 422.0 | 401.0 | 824.0 |
| Total liabilities | 1,288.0 | 1,272.0 | 1,432.0 |
| Equity | |||
| Non-controlling interests | 36.0 | 30.0 | 26.0 |
| Total equity | 161.0 | 188.0 | 422.0 |
| Net cash and other figures | |||
| Net cash / (debt) ex leases | (496.0) | (390.0) | (371.0) |
| Net cash / (debt) incl. leases | (1,010.0) | (874.0) | – |
| 28 Feb 26 | 31 Aug 25 | 28 Feb 25 | 31 Aug 24 | |
|---|---|---|---|---|
| Non-current assets | ||||
| Goodwill | 401.0 | 402.0 | 428.0 | 426.0 |
| Other intangibles | 44.0 | 45.0 | 60.0 | 64.0 |
| Property, plant & equipment | 267.0 | 254.0 | 321.0 | 316.0 |
| Associates & JVs | 2.0 | 2.0 | 2.0 | – |
| Non-current assets | 1,165.0 | 1,116.0 | 1,356.0 | 1,374.0 |
| Current assets | ||||
| Inventories | 140.0 | 148.0 | 212.0 | 209.0 |
| Trade receivables | 77.0 | 102.0 | 109.0 | – |
| Cash | 48.0 | 71.0 | 39.0 | 56.0 |
| Current assets | 284.0 | 344.0 | 379.0 | 480.0 |
| Total assets | 1,449.0 | 1,460.0 | 1,735.0 | 1,854.0 |
| Current liabilities | ||||
| Trade payables | 222.0 | 318.0 | 275.0 | 361.0 |
| Borrowings, current | 544.0 | 461.0 | 178.0 | 117.0 |
| Lease liabilities, current | 99.0 | 90.0 | 120.0 | 125.0 |
| Current liabilities | 866.0 | 871.0 | 575.0 | 608.0 |
| Non-current liabilities | ||||
| Borrowings, non-current | 0.0 | 0.0 | 315.0 | 310.0 |
| Lease liabilities, non-current | 415.0 | 394.0 | 481.0 | 501.0 |
| Pension surplus / (deficit) | 1.0 | 1.0 | – | – |
| Non-current liabilities | 422.0 | 401.0 | 811.0 | 824.0 |
| Total liabilities | 1,288.0 | 1,272.0 | 1,386.0 | 1,432.0 |
| Equity | ||||
| Non-controlling interests | 36.0 | 30.0 | 29.0 | 26.0 |
| Total equity | 161.0 | 188.0 | 349.0 | 422.0 |
| Net cash and other figures | ||||
| Net cash / (debt) ex leases | (496.0) | (390.0) | (454.0) | (371.0) |
| Net cash / (debt) incl. leases | (1,010.0) | (874.0) | (1,055.0) | – |
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Company filings. Not investment advice.