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v3.25.3

Segmental Information (Tables) | 9 Months Ended
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Sep. 28, 2025
Segment Reporting [Abstract] |
Schedule of Segment Reporting Information, by Segment | Financial information by reportable segment in the third quarter and first nine months of 2025 and 2024 were as follows:
|  | Third Quarter 2025 |
| In millions | Gas Cylinders |  | Elektron |  | Graphic Arts |  | Total |
| Net sales | $ | 42.9 |  |  | $ | 50.0 |  |  | $ | — |  |  | $ | 92.9 |  |
| Manufacturing fixed costs | (7.5) |  |  | (8.8) |  |  | — |  |  | (16.3) |  |
| Other cost of sales(1) | (28.5) |  |  | (26.4) |  |  | — |  |  | (54.9) |  |
| Other segment items(2) | (4.1) |  |  | (6.4) |  |  | — |  |  | (10.5) |  |
| Segment adjusted EBITA | $ | 2.8 |  |  | $ | 8.4 |  |  | $ | — |  |  | $ | 11.2 |  |
| Amortization |  |  |  |  |  |  | (0.2) |  |
| Share-based compensation charges |  |  |  |  |  |  | (1.0) |  |
| Restructuring charges |  |  |  |  |  |  | (3.5) |  |
| Disposal costs |  |  |  |  |  |  | (1.1) |  |
| Defined benefit pension credit |  |  |  |  |  |  | 0.6 |  |
| Interest expense, net |  |  |  |  |  |  | (0.7) |  |
| Income before tax from continuing operations |  |  |  |  |  |  | $ | 5.3 |  |
|  | Third Quarter 2024 |
| In millions | Gas Cylinders |  | Elektron |  | Graphic Arts |  | Total |
| Net sales | $ | 42.6 |  |  | $ | 48.8 |  |  | $ | 8.0 |  |  | $ | 99.4 |  |
| Manufacturing fixed costs | (7.3) |  |  | (7.2) |  |  | (1.9) |  |  | (16.4) |  |
| Other cost of sales(1) | (28.5) |  |  | (27.7) |  |  | (4.4) |  |  | (60.6) |  |
| Other segment items(2) | (3.1) |  |  | (4.6) |  |  | (1.8) |  |  | (9.5) |  |
| Segment adjusted EBITA | $ | 3.7 |  |  | $ | 9.3 |  |  | $ | (0.1) |  |  | $ | 12.9 |  |
| Amortization |  |  |  |  |  |  | (0.2) |  |
| Share-based compensation charges |  |  |  |  |  |  | (0.7) |  |
| Restructuring charges |  |  |  |  |  |  | (0.5) |  |
| Loss on disposal of property, plant and equipment |  |  |  |  |  |  | (0.1) |  |
| Gain on disposal of held for sale assets |  |  |  |  |  |  | 6.1 |  |
| Disposal costs |  |  |  |  |  |  | (0.1) |  |
| Defined benefit pension credit |  |  |  |  |  |  | 0.3 |  |
| Interest expense, net |  |  |  |  |  |  | (1.4) |  |
| Income before tax from continuing operations |  |  |  |  |  |  | $ | 16.3 |  |
In the third quarter of 2025 there were no sales made between our segments (2024: $0.1 million sales between our Elektron segment and Graphic Arts segment). 15. Segmental Information (continued)
|  | Year-to-date 2025 |
| In millions | Gas Cylinders |  | Elektron |  | Graphic Arts |  | Total |
| Net sales | $ | 131.0 |  |  | $ | 149.5 |  |  | $ | 13.4 |  |  | $ | 293.9 |  |
| Manufacturing fixed costs | (22.6) |  |  | (24.3) |  |  | (4.0) |  |  | (50.9) |  |
| Other cost of sales(1) | (87.8) |  |  | (80.6) |  |  | (7.5) |  |  | (175.9) |  |
| Other segment items(2) | (12.0) |  |  | (21.2) |  |  | (3.0) |  |  | (36.2) |  |
| Segment adjusted EBITA | $ | 8.6 |  |  | $ | 23.4 |  |  | $ | (1.1) |  |  | $ | 30.9 |  |
| Amortization |  |  |  |  |  |  | (0.6) |  |
| Share-based compensation charges |  |  |  |  |  |  | (2.8) |  |
| Restructuring charges |  |  |  |  |  |  | (5.6) |  |
| Disposal costs |  |  |  |  |  |  | (1.2) |  |
| Defined benefit pension credit |  |  |  |  |  |  | 1.8 |  |
| Interest expense, net |  |  |  |  |  |  | (2.4) |  |
| Income before tax from continuing operations |  |  |  |  |  |  | $ | 20.1 |  |
|  | Year-to-date 2024 |
| In millions | Gas Cylinders |  | Elektron |  | Graphic Arts |  | Total |
| Net sales | $ | 137.8 |  |  | $ | 128.5 |  |  | $ | 22.2 |  |  | $ | 288.5 |  |
| Manufacturing fixed costs | (22.3) |  |  | (21.3) |  |  | (5.8) |  |  | (49.4) |  |
| Other cost of sales(1) | (92.7) |  |  | (70.3) |  |  | (13.3) |  |  | (176.3) |  |
| Other segment items(2) | (11.8) |  |  | (11.6) |  |  | (4.8) |  |  | (28.2) |  |
| Segment adjusted EBITA | $ | 11.0 |  |  | $ | 25.3 |  |  | $ | (1.7) |  |  | $ | 34.6 |  |
| Amortization |  |  |  |  |  |  | (0.6) |  |
| Share-based compensation charges |  |  |  |  |  |  | (2.1) |  |
| Restructuring charges |  |  |  |  |  |  | (2.3) |  |
| Loss on disposal of property, plant and equipment |  |  |  |  |  |  | (0.1) |  |
| Gain on disposal of held for sale assets |  |  |  |  |  |  | 6.1 |  |
| Disposal costs |  |  |  |  |  |  | (9.5) |  |
| Defined benefit pension credit |  |  |  |  |  |  | 0.8 |  |
| Interest expense, net |  |  |  |  |  |  | (4.1) |  |
| Income before tax from continuing operations |  |  |  |  |  |  | $ | 22.8 |  |
During the first nine months of 2025 there were $0.1 million sales made between our Elektron segment and Graphic Arts segment (2024: $0.4 million) (1) Other cost of sales includes material costs and variable costs. (2) Other segment items primarily consists of sales, marketing, research and development, general and admin costs.
|  | Depreciation and amortization |  | Restructuring charges |
|  | Third Quarter |  | Year-to-date |  | Third Quarter |  | Year-to-date |
| In millions | 2025 |  | 2024 |  | 2025 |  | 2024 |  | 2025 |  | 2024 |  | 2025 |  | 2024 |
| Gas Cylinders segment | $ | 0.9 |  |  | $ | 0.9 |  |  | $ | 2.6 |  |  | $ | 2.6 |  |  | $ | 0.9 |  |  | $ | 0.5 |  |  | $ | 3.0 |  |  | $ | 2.1 |  |
| Elektron segment | 1.7 |  |  | 1.7 |  |  | 4.9 |  |  | 4.9 |  |  | 2.6 |  |  | — |  |  | 2.6 |  |  | 0.2 |  |
| Graphic Arts segment | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |
| Consolidated | $ | 2.6 |  |  | $ | 2.6 |  |  | $ | 7.5 |  |  | $ | 7.5 |  |  | $ | 3.5 |  |  | $ | 0.5 |  |  | $ | 5.6 |  |  | $ | 2.3 |  |
15. Segmental Information (continued)
|  | Total assets | Capital expenditures |
|  | September 28, |  | December 31, |  | Third Quarter |  | Year-to-date |
| In millions | 2025 |  | 2024 |  | 2025 |  | 2024 |  | 2025 |  | 2024 |
| Gas Cylinders segment | $ | 128.7 |  |  | $ | 122.5 |  |  | $ | 0.5 |  |  | $ | 1.1 |  |  | $ | 1.3 |  |  | $ | 3.2 |  |
| Elektron segment | 172.8 |  |  | 173.1 |  |  | 1.2 |  |  | 1.8 |  |  | 3.3 |  |  | 3.9 |  |
| Graphic Arts segment | — |  |  | 14.8 |  |  | — |  |  | 0.1 |  |  | 0.1 |  |  | 0.2 |  |
| Total reportable segments | $ | 301.5 |  |  | $ | 310.4 |  |  | $ | 1.7 |  |  | $ | 3.0 |  |  | $ | 4.7 |  |  | $ | 7.3 |  |
| Other | 69.1 |  |  | 64.3 |  |  | — |  |  | — |  |  | — |  |  | — |  |
| Discontinued operations | 6.8 |  |  | 7.7 |  |  | — |  |  | — |  |  | 0.2 |  |  | — |  |
| Consolidated | $ | 377.4 |  |  | $ | 382.4 |  |  | $ | 1.7 |  |  | $ | 3.0 |  |  | $ | 4.9 |  |  | $ | 7.3 |  |
Property, Plant and Equipment, Net by Geographic Region |
|  | Property, plant and equipment, net |
|  | September 28, |  | December 31, |  |  |
| In millions | 2025 |  | 2024 |  |  |
| U.S. | $ | 22.4 |  |  | $ | 26.7 |  |  |  |
| United Kingdom | 33.5 |  |  | 33.0 |  |  |  |
| Canada | 2.6 |  |  | 2.8 |  |  |  |
| Asia Pacific | 0.3 |  |  | 0.3 |  |  |  |
|  | $ | 58.8 |  |  | $ | 62.8 |  |  |  |
Revenue from External Customers and Long-term Assets by Geographic Areas | The following tables present certain geographic information by geographic region for the first nine months and Third Quarter ended September 28, 2025, and September 29, 2024:
|  | Net Sales(1) |
|  | Third Quarter |  | Year-to-date |
|  | 2025 |  | 2024 |  | 2025 |  | 2024 |
|  | $M | Percent |  | $M | Percent |  | $M | Percent |  | $M | Percent |
| United States | $ | 63.4 |  | 68.3 | % |  | $ | 57.7 |  | 58.1 | % |  | $ | 189.2 |  | 64.4 | % |  | $ | 168.2 |  | 58.3 | % |
| United Kingdom | 6.0 |  | 6.5 | % |  | 7.4 |  | 7.4 | % |  | 18.0 |  | 6.1 | % |  | 18.0 |  | 6.2 | % |
| Japan | 4.3 |  | 4.6 | % |  | 5.7 |  | 5.7 | % |  | 14.9 |  | 5.1 | % |  | 14.7 |  | 5.1 | % |
| Germany | 5.8 |  | 6.2 | % |  | 5.8 |  | 5.8 | % |  | 17.0 |  | 5.8 | % |  | 18.4 |  | 6.4 | % |
| Canada | 1.4 |  | 1.5 | % |  | 2.8 |  | 2.8 | % |  | 7.2 |  | 2.4 | % |  | 9.3 |  | 3.2 | % |
| Top five countries | $ | 80.9 |  | 87.1 | % |  | $ | 79.4 |  | 79.8 | % |  | $ | 246.3 |  | 83.8 | % |  | $ | 228.6 |  | 79.2 | % |
| Rest of Europe | 7.0 |  | 7.5 | % |  | 12.1 |  | 12.3 | % |  | 26.6 |  | 9.1 | % |  | 36.5 |  | 12.7 | % |
| Asia Pacific | 4.1 |  | 4.4 | % |  | 5.8 |  | 5.8 | % |  | 16.3 |  | 5.5 | % |  | 16.1 |  | 5.6 | % |
| Other (2) | 0.9 |  | 1.0 | % |  | 2.1 |  | 2.1 | % |  | 4.7 |  | 1.6 | % |  | 7.3 |  | 2.5 | % |
|  | $ | 92.9 |  |  |  | $ | 99.4 |  |  |  | $ | 293.9 |  |  |  | $ | 288.5 |  |  |
(1) Net sales are based on the geographic destination of sale. (2) Other includes South America, Latin America the Middle East and Africa.

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