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Segment analysis (Tables)
12 Months Ended
Dec. 31, 2024
Segment analysis  
Schedule of reconciliation of (loss)/profit for the year to Adjusted EBITDA

Year ended December 31, 

2024

2023

2022

    

$’m

    

$’m

    

$’m

(Loss)/profit for the year

 

(3)

(50)

237

Income tax charge/(credit) (note 7)

 

13

 

(21)

 

19

Net finance expense/(income) (note 6)

 

192

 

147

 

(80)

Depreciation and amortization (notes 10, 11)

 

449

 

418

 

359

Exceptional operating items (note 5)

 

21

 

106

 

90

Adjusted EBITDA

 

672

 

600

 

625

Schedule of segment results

The segment results for the year ended December 31, 2024 are:

Europe

Americas

Total

    

$’m

    

$’m

    

$’m

Revenue

 

2,161

2,747

4,908

Adjusted EBITDA

 

257

415

672

Capital expenditure

 

76

103

179

Segment assets

 

2,589

2,873

5,462

The segment results for the year ended December 31, 2023 are:

Europe

Americas

Total

    

$’m

    

$’m

    

$’m

Revenue

 

2,030

 

2,782

 

4,812

Adjusted EBITDA

 

211

 

389

 

600

Capital expenditure

 

155

 

223

 

378

Segment assets

 

2,648

 

3,021

 

5,669

The segment results for the year ended December 31, 2022 are:

Europe

Americas

Total

    

$’m

    

$’m

    

$’m

Revenue

 

1,963

 

2,726

 

4,689

Adjusted EBITDA

 

200

 

425

 

625

Capital expenditure

 

213

 

382

 

595

Segment assets

 

2,754

 

3,111

 

5,865

Schedule of revenue by geographic area

Year ended December 31, 

2024

2023

2022

Revenue

    

$’m

    

$’m

    

$’m

U.S.

 

2,122

 

2,307

 

2,181

U.K.

509

495

385

Schedule of disaggregation of revenue

The following illustrates the disaggregation of revenue by destination for the year ended December 31, 2024:

North

Rest of the

Europe

America

world

Total

$'m

$'m

$'m

$'m

Europe

2,134

3

24

2,161

Americas

2,295

452

2,747

Group

2,134

2,298

476

4,908

The following illustrates the disaggregation of revenue by destination for the year ended December 31, 2023:

North

Rest of the

Europe

America

world

Total

$'m

$'m

$'m

$'m

Europe

2,010

7

13

2,030

Americas

2,311

471

2,782

Group

2,010

2,318

484

4,812

The following illustrates the disaggregation of revenue by destination for the year ended December 31, 2022:

North

Rest of the

Europe

America

world

Total

$'m

$'m

$'m

$'m

Europe

1,937

10

16

1,963

Americas

2,178

548

2,726

Group

1,937

2,188

564

4,689

The following illustrates the disaggregation of revenue based on the timing of transfer of goods and services:

    

Year ended December 31, 

2024

2023

2022

    

$’m

    

$’m

    

$’m

Over time

 

3,876

 

3,831

 

3,747

Point in time

 

1,032

 

981

 

942

Total

 

4,908

 

4,812

 

4,689