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v3.24.2

Segmental Information (Tables) | 6 Months Ended
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Jun. 30, 2024
Segment Reporting [Abstract] |
Schedule of Segment Reporting Information, by Segment | Financial information by reportable segment for the Second Quarter and first half ended June 30, 2024, and July 2, 2023, is included in the following summary:
|  | Net sales |  | Adjusted EBITDA |
|  | Second Quarter |  | Year-to-date |  | Second Quarter |  | Year-to-date |
| In millions | 2024 |  | 2023 |  | 2024 |  | 2023 |  | 2024 |  | 2023 |  | 2024 |  | 2023 |
| Gas Cylinders segment | $ | 49.8 |  |  | $ | 48.5 |  |  | $ | 95.2 |  |  | $ | 90.0 |  |  | $ | 4.9 |  |  | $ | 4.9 |  |  | $ | 9.0 |  |  | $ | 7.4 |  |
| Elektron segment | 42.0 |  |  | 53.0 |  |  | 79.7 |  |  | 105.4 |  |  | 12.4 |  |  | 9.5 |  |  | 18.8 |  |  | 19.0 |  |
| Graphic Arts segment | 7.9 |  |  | 8.9 |  |  | 14.2 |  |  | 16.3 |  |  | 0.1 |  |  | — |  |  | (1.6) |  |  | (0.7) |  |
| Consolidated | $ | 99.7 |  |  | $ | 110.4 |  |  | $ | 189.1 |  |  | $ | 211.7 |  |  | $ | 17.4 |  |  | $ | 14.4 |  |  | $ | 26.2 |  |  | $ | 25.7 |  |
(1) Adjusted EBITA is adjusted EBITDA less depreciation and loss on disposal of property, plant and equipment. 15. Segmental Information (continued)
|  | Depreciation and amortization |  | Restructuring charges |
|  | Second Quarter |  | Year-to-date |  | Second Quarter |  | Year-to-date |
| In millions | 2024 |  | 2023 |  | 2024 |  | 2023 |  | 2024 |  | 2023 |  | 2024 |  | 2023 |
| Gas Cylinders segment | $ | 0.9 |  |  | $ | 1.0 |  |  | $ | 1.7 |  |  | $ | 2.1 |  |  | $ | 1.1 |  |  | $ | 2.5 |  |  | $ | 1.6 |  |  | $ | 2.8 |  |
| Elektron segment | 1.6 |  |  | 1.8 |  |  | 3.2 |  |  | 3.5 |  |  | — |  |  | — |  |  | 0.2 |  |  | — |  |
| Graphic Arts segment | — |  |  | 0.5 |  |  | — |  |  | 1.0 |  |  | — |  |  | — |  |  | — |  |  | — |  |
| Consolidated | $ | 2.5 |  |  | $ | 3.3 |  |  | $ | 4.9 |  |  | $ | 6.6 |  |  | $ | 1.1 |  |  | $ | 2.5 |  |  | $ | 1.8 |  |  | $ | 2.8 |  |
|  | Total assets | Capital expenditures |
|  | June 30, |  | December 31, |  | Second Quarter |  | Year-to-date |
| In millions | 2024 |  | 2023 |  | 2024 |  | 2023 |  | 2024 |  | 2023 |
| Gas Cylinders segment | $ | 136.7 |  |  | $ | 131.0 |  |  | $ | 1.3 |  |  | $ | 0.3 |  |  | $ | 2.1 |  |  | $ | 0.6 |  |
| Elektron segment | 167.7 |  |  | 162.4 |  |  | 1.4 |  |  | 2.3 |  |  | 2.1 |  |  | 3.9 |  |
| Graphic Arts segment | 14.7 |  |  | 19.6 |  |  | 0.1 |  |  | 0.4 |  |  | 0.1 |  |  | 0.5 |  |
| Other | 53.2 |  |  | 51.3 |  |  | — |  |  | — |  |  | — |  |  | — |  |
| Discontinued operations | 7.5 |  |  | 7.8 |  |  | — |  |  | 0.2 |  |  | — |  |  | 0.1 |  |
| Consolidated | $ | 379.8 |  |  | $ | 372.1 |  |  | $ | 2.8 |  |  | $ | 3.2 |  |  | $ | 4.3 |  |  | $ | 5.1 |  |
Property, Plant and Equipment, Net by Geographic Region |
|  | Property, plant and equipment, net |
|  | June 30, |  | December 31, |  |  |
| In millions | 2024 |  | 2023 |  |  |
| U.S. | $ | 26.8 |  |  | $ | 26.8 |  |  |  |
| United Kingdom | 32.0 |  |  | 32.8 |  |  |  |
| Canada | 3.0 |  |  | 2.9 |  |  |  |
| Rest of Europe | 1.0 |  |  | 1.0 |  |  |  |
| Asia Pacific | 0.3 |  |  | 0.3 |  |  |  |
|  | $ | 63.1 |  |  | $ | 63.8 |  |  |  |
Reconciliation of Operating Profit (Loss) from Segments to Consolidated | The following table presents a reconciliation of Adjusted EBITDA to net income before income taxes, from continuing operations:
|  | Second Quarter |  | Year-to-date |
| In millions | 2024 |  | 2023 |  | 2024 |  | 2023 |
| Adjusted EBITDA | $ | 17.4 |  |  | $ | 14.4 |  |  | $ | 26.2 |  |  | $ | 25.7 |  |
| Other share-based compensation charges | (0.8) |  |  | (0.7) |  |  | (1.4) |  |  | (1.3) |  |
| Depreciation and amortization | (2.5) |  |  | (3.3) |  |  | (4.9) |  |  | (6.6) |  |
| Restructuring charges | (1.1) |  |  | (2.5) |  |  | (1.8) |  |  | (2.8) |  |
| Acquisition and disposal related costs | (9.2) |  |  | — |  |  | (9.4) |  |  | — |  |
| Defined benefits pension credit / (charge) | 0.2 |  |  | 0.6 |  |  | 0.5 |  |  | (8.3) |  |
| Interest expense, net | (1.3) |  |  | (1.8) |  |  | (2.7) |  |  | (3.1) |  |
| Net income before income taxes from continuing operations | $ | 2.7 |  |  | $ | 6.7 |  |  | $ | 6.5 |  |  | $ | 3.6 |  |
Revenue from External Customers and Long-term Assets by Geographic Areas | The following tables present certain geographic information by geographic region for the Second Quarter ended June 30, 2024, and July 2, 2023:
|  | Net Sales(1) |
|  | Second Quarter |  | Year-to-date |
|  | 2024 |  | 2023 |  | 2024 |  | 2023 |
|  | $M | Percent |  | $M | Percent |  | $M | Percent |  | $M | Percent |
| United States | $ | 57.3 |  | 57.6 | % |  | $ | 67.8 |  | 61.5 | % |  | $ | 110.5 |  | 58.4 | % |  | $ | 125.5 |  | 59.3 | % |
| Germany | 7.2 |  | 7.2 | % |  | 3.8 |  | 3.4 | % |  | 12.6 |  | 6.7 | % |  | 10.1 |  | 4.8 | % |
| United Kingdom | 6.3 |  | 6.3 | % |  | 5.2 |  | 4.7 | % |  | 10.6 |  | 5.6 | % |  | 10.8 |  | 5.1 | % |
| Japan | 5.0 |  | 5.0 | % |  | 6.3 |  | 5.7 | % |  | 9.0 |  | 4.8 | % |  | 10.8 |  | 5.1 | % |
| Canada | 2.8 |  | 2.8 | % |  | 3.4 |  | 3.1 | % |  | 6.5 |  | 3.4 | % |  | 5.2 |  | 2.5 | % |
| Top five countries | 78.6 |  | 78.9 | % |  | 86.5 |  | 78.4 | % |  | 149.2 |  | 78.9 | % |  | 162.4 |  | 76.7 | % |
| Rest of Europe | 12.3 |  | 12.3 | % |  | 11.7 |  | 10.6 | % |  | 24.4 |  | 13.0 | % |  | 24.7 |  | 11.7 | % |
| Asia Pacific | 6.7 |  | 6.7 | % |  | 8.3 |  | 7.5 | % |  | 10.3 |  | 5.4 | % |  | 17.3 |  | 8.2 | % |
| Other (2) | 2.1 |  | 2.1 | % |  | 3.9 |  | 3.5 | % |  | 5.2 |  | 2.7 | % |  | 7.3 |  | 3.4 | % |
|  | $ | 99.7 |  |  |  | $ | 110.4 |  |  |  | $ | 189.1 |  |  |  | $ | 211.7 |  |  |
(1) Net sales are based on the geographic destination of sale. (2) Other includes South America, Latin America and Africa.

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