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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Operating activities      
Net income / (loss) $ 18.4 $ (1.9) $ 26.9
Net loss / (income) from discontinued operations (0.1) (0.7) 5.1
Net income / (loss) from continuing operations 18.3 (2.6) 32.0
Adjustments to reconcile net loss from continuing operations to net cash provided by operating activities      
Depreciation 9.3 11.9 12.9
Depreciation of right of use assets 3.3 3.3 4.4
Amortization of purchased intangible assets 0.8 0.8 0.7
Amortization of debt issuance costs 0.3 0.4 0.5
Share-based compensation charge 3.5 2.8 2.5
Deferred income taxes 1.1 (0.6) 8.7
Loss on disposal of property, plant and equipment 0.1 0.0 0.0
Loss on disposal of business 0.0 0.0 1.0
Asset impairment charges and non-cash restructuring charges 2.8 15.9 0.0
Gain on disposal of held for sale assets (6.1) 0.0 0.0
Loss on held-for-sale asset group 9.8 0.0 0.0
Defined benefit pension (credit) / charge (1.0) 7.9 0.1
Defined benefit pension contributions 0.0 (2.3) (0.4)
Changes in assets and liabilities      
Accounts and notes receivable (4.3) 17.5 (25.3)
Inventories (4.1) 16.6 (25.0)
Current assets held-for-sale (4.7) 1.0 (3.3)
Other current assets 1.5 (1.5) 0.0
Prepayments and accrued income (1.1) 0.9 1.9
Accounts payable 4.8 (19.0) 21.3
Accrued liabilities 4.6 (9.2) 2.4
Current liabilities held-for-sale 5.7 0.5 0.9
Other current liabilities 6.8 (4.3) (8.8)
Other non-current assets and liabilities (2.5) (12.0) (6.9)
Net cash provided by operating activities - continuing 51.1 26.2 15.8
Net cash provided by operating activities - discontinued 0.0 0.1 0.1
Net cash provided by operating activities 51.1 26.3 15.9
Investing activities      
Capital expenditures (10.3) (9.4) (8.3)
Purchase of intangible assets (0.4) 0.0 0.0
Proceeds from sale of property, plant and equipment 0.0 0.0 3.7
Proceeds from disposal of assets held for sale 7.3 0.0 0.0
Settlements from sale of businesses 0.0 0.0 (1.0)
Net cash used for investing activities - continuing (3.4) (9.4) (5.6)
Net cash used for investing activities - discontinued 0.0 (0.1) (0.1)
Net cash used for investing activities (3.4) (9.5) (5.7)
Financing activities      
Repayment of loan notes 0.0 (25.0) 0.0
(Repayment) / drawdown of bank overdraft (1.5) 4.6 0.0
Net (repayment) / drawdown of long-term borrowings (25.7) 10.2 24.8
Debt issuance costs 0.0 (0.2) 0.0
Dividends paid (14.0) (14.0) (14.2)
Share-based compensation cash paid (0.5) (0.4) (1.4)
Repurchase of deferred shares 0.0 0.0 (0.1)
Repurchase of ordinary shares (2.3) (2.7) (11.1)
Net cash used for financing activities (44.0) (27.5) (2.0)
Effect of exchange rate changes on cash and cash equivalents 0.0 0.4 (1.7)
Net increase / (decrease) 3.7 (10.3) 6.5
Cash, cash equivalents and restricted cash; beginning of year 2.6 12.9 6.4
Cash, cash equivalents and restricted cash; end of year 6.3 2.6 12.9
Supplemental cash flow information:      
Interest payments 5.8 6.1 4.0
Income tax (receipts) / payments $ (1.2) $ 3.3 $ 0.6