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v3.25.4

Segment Information (Tables) | 12 Months Ended
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Dec. 31, 2025
Segment Reporting [Abstract] |
Schedule of Segment Reporting Information, by Segment | Financial information by reportable segment for the years ended December 31 is included in the following summary:
|  | 2025 |
| In millions | Gas Cylinders |  | Elektron |  | Graphic Arts |  | Total |
| Net sales | $ | 174.8 |  |  | $ | 196.4 |  |  | $ | 13.4 |  |  | $ | 384.6 |  |
| Manufacturing fixed costs | (29.4) |  |  | (32.5) |  |  | (4.0) |  |  | (65.9) |  |
| Other cost of sales(1) | (117.2) |  |  | (104.9) |  |  | (7.4) |  |  | (229.5) |  |
| Other segment items(2) | (16.5) |  |  | (27.9) |  |  | (4.6) |  |  | (49.0) |  |
| Segment adjusted EBITA | $ | 11.7 |  |  | $ | 31.1 |  |  | $ | (2.6) |  |  | 40.2 |
| Amortization |  |  |  |  |  |  | (0.8) |  |
| Share-based compensation charges |  |  |  |  |  |  | (3.6) |  |
| Restructuring charges |  |  |  |  |  |  | (9.0) |  |
| Other costs |  |  |  |  |  |  | (0.8) |  |
| Disposal related costs |  |  |  |  |  |  | (2.0) |  |
| Defined benefit pension credit |  |  |  |  |  |  | 1.3 |  |
| Interest expense, net |  |  |  |  |  |  | (3.1) |  |
| Income before tax from continuing operations |  |  |  |  |  |  | $ | 22.2 |  |
|  | 2024 |
| In millions | Gas Cylinders |  | Elektron |  | Graphic Arts |  | Total |
| Net sales | $ | 186.3 |  |  | $ | 176.0 |  |  | $ | 29.6 |  |  | $ | 391.9 |  |
| Manufacturing fixed costs | (28.7) |  |  | (28.4) |  |  | (7.7) |  |  | (64.8) |  |
| Other cost of sales(1) | (127.4) |  |  | (95.6) |  |  | (18.4) |  |  | (241.4) |  |
| Other segment items(2) | (15.6) |  |  | (18.5) |  |  | (6.4) |  |  | (40.5) |  |
| Segment adjusted EBITA | $ | 14.6 |  |  | $ | 33.5 |  |  | $ | (2.9) |  |  | 45.2 |
| Amortization |  |  |  |  |  |  | (0.8) |  |
| Share-based compensation charges |  |  |  |  |  |  | (3.5) |  |
| Restructuring charges |  |  |  |  |  |  | (4.7) |  |
| Gain on disposal of assets held for sale |  |  |  |  |  |  | 6.1 |  |
| Disposal related costs |  |  |  |  |  |  | (12.2) |  |
| Defined benefit pension charge |  |  |  |  |  |  | 1.6 |  |
| Interest expense, net |  |  |  |  |  |  | (5.2) |  |
| Loss before tax from continuing operations |  |  |  |  |  |  | $ | 26.5 |  |
|  | 2023 |
| In millions | Gas Cylinders |  | Elektron |  | Graphic Arts |  | Total |
| Net sales | $ | 186.4 |  |  | $ | 187.1 |  |  | $ | 31.5 |  |  | $ | 405.0 |  |
| Manufacturing fixed costs | (29.1) |  |  | (29.4) |  |  | (10.9) |  |  | (69.4) |  |
| Other cost of sales(1) | (129.8) |  |  | (107.9) |  |  | (21.3) |  |  | (259.0) |  |
| Other segment items(2) | (14.9) |  |  | (29.0) |  |  | (5.8) |  |  | (49.7) |  |
| Segment adjusted EBITA | $ | 12.6 |  |  | $ | 20.8 |  |  | $ | (6.5) |  |  | 26.9 |
| Amortization |  |  |  |  |  |  | (0.8) |  |
| Share-based compensation charges |  |  |  |  |  |  | (2.8) |  |
| Restructuring charges |  |  |  |  |  |  | (6.4) |  |
| Impairment charges |  |  |  |  |  |  | (12.7) |  |
| Defined benefit pension credit |  |  |  |  |  |  | (7.6) |  |
| Interest expense, net |  |  |  |  |  |  | (6.3) |  |
| Income before tax from continuing operations |  |  |  |  |  |  | $ | (9.7) |  |
During 2025 there were $0.1 million sales made between our Elektron segment and Graphic Arts segment (2024: $0.7 million and 2023: $0.7 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. 18. Segment Information (continued)
|  | Depreciation and amortization |  |  | Restructuring Charges |
| In millions | 2025 |  | 2024 |  | 2023 |  |  | 2025 |  | 2024 |  | 2023 |
| Gas Cylinders segment | $ | 3.3 |  |  | $ | 3.4 |  |  | $ | 4.1 |  |  |  | $ | 6.5 |  |  | $ | 4.5 |  |  | $ | 5.9 |  |
| Elektron segment | 6.6 |  |  | 6.7 |  |  | 6.6 |  |  |  | 2.5 |  |  | 0.2 |  |  | 0.5 |  |
| Graphic Arts segment | — |  |  | — |  |  | 2.0 |  |  | — |  |  | — |  |  | — |  |
| Consolidated | $ | 9.9 |  |  | $ | 10.1 |  |  | $ | 12.7 |  |  |  | $ | 9.0 |  |  | $ | 4.7 |  |  | $ | 6.4 |  |
|  | Total assets |  | Capital expenditure |
| In millions | 2025 |  | 2024 |  | 2025 |  | 2024 |  | 2023 |
| Gas Cylinders segment | $ | 121.8 |  |  | $ | 122.5 |  |  | $ | 1.9 |  |  | $ | 4.8 |  |  | $ | 2.1 |  |
| Elektron segment | 171.0 |  |  | 173.1 |  |  | 5.8 |  |  | 5.4 |  |  | 6.1 |  |
| Graphic Arts segment | — |  |  | 14.8 |  | 0.1 |  |  | 0.3 |  | 1.0 |
| Total reportable segments | 292.8 |  | 310.4 |  | 7.8 |  | 10.5 |  | 9.2 |
| Other | 71.4 |  |  | 64.3 |  |  | — |  |  | — |  |  | — |  |
| Discontinued operations | 5.5 |  |  | 7.7 |  |  | 0.2 |  |  | — |  |  | 0.1 |  |
|  | $ | 369.7 |  |  | $ | 382.4 |  |  | $ | 8.0 |  |  | $ | 10.5 |  |  | $ | 9.3 |  |
The following tables present certain geographic information by geographic region for the years ended December 31:
|  | Net Sales(1) |
|  | 2025 |  | 2024 |  | 2023 |
|  | $M | Percent |  | $M | Percent |  | $M | Percent |
| United States | $ | 244.0 |  | 63.5 | % |  | $ | 228.1 |  | 58.2 | % |  | $ | 243.1 |  | 60.0 | % |
| Germany | 24.0 |  | 6.2 | % |  | 22.6 |  | 5.8 | % |  | 19.2 |  | 4.7 | % |
| U.K. | 23.8 |  | 6.2 | % |  | 26.1 |  | 6.7 | % |  | 19.7 |  | 4.9 | % |
| Japan | 18.2 |  | 4.7 | % |  | 22.0 |  | 5.6 | % |  | 19.3 |  | 4.8 | % |
| Canada | 11.2 |  | 2.9 | % |  | 11.3 |  | 2.8 | % |  | 11.2 |  | 2.8 | % |
| Top five countries | $ | 321.2 |  | 83.5 | % |  | $ | 310.1 |  | 79.1 | % |  | $ | 312.5 |  | 77.2 | % |
| Rest of Europe | 35.6 |  | 9.3 | % |  | 47.0 |  | 12.0 | % |  | 47.5 |  | 11.7 | % |
| Asia Pacific | 22.1 |  | 5.7 | % |  | 23.2 |  | 5.9 | % |  | 28.0 |  | 6.9 | % |
| Rest of the World(2) | 5.7 |  | 1.5 | % |  | 11.6 |  | 3.0 | % |  | 17.0 |  | 4.2 | % |
|  | $ | 384.6 |  |  |  | $ | 391.9 |  |  |  | $ | 405.0 |  |  |
(1) Net sales are based on the geographic destination of sale. (2) Rest of the World
Revenue from External Customers and Long-term Assets by Geographic Areas |
|  |  | Property, plant and equipment, net |
| In millions |  | 2025 |  | 2024 |
| United States |  | $ | 23.3 |  |  | $ | 26.7 |  |
| United Kingdom |  | 34.1 |  |  | 33.0 |  |
| Canada |  | 2.5 |  |  | 2.8 |
| Asia Pacific |  | 0.3 |  |  | 0.3 |  |
|  |  | $ | 60.2 |  |  | $ | 62.8 |  |

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- Definition Tabular disclosure of information concerning material long-lived assets (excluding financial instruments, customer relationships with financial institutions, mortgage and other servicing rights, deferred policy acquisition costs, and deferred taxes assets) located in identified geographic areas and/or the amount of revenue from external customers attributed to that country from which revenue is material. An entity may also provide subtotals of geographic information about groups of countries. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 220 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03(1)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147483621/220-10-S99-2 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-41 + Details
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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-25 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-22 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-30 + Details
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