LUXFER HOLDINGS PLCLXFR
LUXFER HOLDINGS PLC Segments Disclosure
Segment Information
We classify our operations into business segments based primarily on shared economic characteristics, including the nature of the products and services; the production processes; the type or class of customer; the methods used to distribute products or provide services; and the nature of the regulatory environment.
During 2025, the Company operated five business units, which aggregated into three reportable segments within continuing operations, and one within discontinued operations. Luxfer Gas Cylinders forms the Gas Cylinders segment, and Luxfer MEL Technologies and Luxfer Magtech aggregate into the Elektron segment.
As of December 31, 2023, it was determined that the Luxfer Graphic Arts business no longer met the criteria, specifically similar economic characteristics, for it to be aggregated within the Elektron segment. As a result, Luxfer Graphic Arts was disaggregated from the Elektron segment and reported separately as the Graphic Arts segment. The Graphic Arts business was classified as held for sale as of December 31, 2024 and was sold on July 2, 2025.
The Superform business unit previously aggregated into the Gas Cylinders segment and is presented within discontinued operations.
A summary of the operations of the Company’s reportable segments within continuing operations is provided below.
Gas Cylinders segment
The Gas Cylinders segment manufactures and markets specialized cylinders using carbon composite materials and aluminum alloys. Products include pressurized cylinders for self-contained breathing apparatus (“SCBA”) used by firefighters and other emergency responders; cylinders for the containment of oxygen and other medical gases used in healthcare and aviation applications; aerospace and aviation cylinders used in aircraft safety systems, including emergency slide inflation and onboard oxygen storage; cylinders and systems for alternative fuel vehicles, including compressed natural gas (“CNG”) and hydrogen; space-related cylinders used in launch vehicle applications; and cylinders used in specialty industrial applications.
Elektron segment The Elektron segment focuses on specialty materials based primarily on magnesium and zirconium. Key product lines include advanced lightweight magnesium alloys used across aerospace, defense, transportation, and industrial applications; magnesium powders used in aircraft countermeasure flares and heater meal applications; and high-performance zirconium-based materials and oxides used in automotive emissions control, industrial catalysis, pharmaceuticals, and other specialty applications.
Graphic Arts segment
The Graphic Arts segment provided a range of pre-sensitized magnesium, copper, and zinc plates, along with associated chemicals, used in the production of foil-stamping and embossing dies. The segment also manufactured non-sensitized polished brass and magnesium plates for computer numerical control (“CNC”) engraving and offered advisory services for turnkey engraving operations, including etching machines, computer-to-plate (“CtP”) machines, exposure units, and film setters. The Company completed the sale of the Graphic Arts business on July 2, 2025.
Other
Other primarily represents unallocated corporate expenses and includes non-service-related defined benefit pension cost or credit.
Management monitors the operating results of its reportable segments separately for the purpose of making decisions about resource allocation and performance assessment. Segment performance is evaluated by the chief operating decision maker "CODM", the CEO, who is responsible for allocating resources and assessing performance of the operating segments, using net sales and adjusted EBITA, which is defined as the Company's measure of segment profit or loss, and is based on income before tax from continuing operations, adjusted for share-based compensation charges; restructuring charges; impairment charges; disposal costs; gain on disposal of assets held for sale/property, plant and equipment; defined benefit credit/charge, interest expense, net and amortization.
Unallocated assets and liabilities include those which are held on behalf of the Company and cannot be allocated to a segment, such as taxation, investments, cash, retirement benefits obligations, bank and other loans and holding company assets and liabilities.
Financial information by reportable segment for the years ended December 31 is included in the following summary:
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 )
| 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) | |||||||||||||||||||||||||||
(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 comprises South America, Latin and South America, Africa and the Middle East.
| 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 | |||||||||||||||||
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Feb 24, 2026 | Showing above |
| 2024 | Feb 25, 2025 | |
| 2023 | Feb 27, 2024 | |
| 2022 | Mar 1, 2023 | |
| 2021 | Feb 24, 2022 | |
| 2020 | Mar 2, 2021 | |
| 2019 | Mar 10, 2020 | |
| 2018 | Mar 12, 2019 | |
About Segments Disclosures
Segment disclosures break a company into its reportable operating units, revealing revenue, profit, and asset allocation that consolidated financial statements obscure. Under ASC 280, segments must match how the chief operating decision maker views the business, providing a window into internal management structure and resource allocation priorities.
Key signals: compare segment margins to identify which units drive profitability and which destroy value. Watch for changes in the number of reportable segments — segment aggregation or disaggregation often coincides with strategic shifts or attempts to obscure declining performance. Intersegment elimination patterns reveal internal pricing practices. The reconciliation between segment totals and consolidated figures exposes corporate overhead allocation and unallocated items. Geographic revenue concentration highlights regulatory and currency exposure. Compare segment-level capital expenditure against segment revenue to assess where management is investing for future growth versus harvesting existing assets.