Elementis PLC

Latest Results (18.04.2026):

Elementis PLC — results for the year ended 31 December 2025 (FY2025, Q4 2025). The Group delivered a resilient full-year performance: adjusted operating profit rose to $126.7m (margin 21.2%), adjusted PBT was $107.5m and adjusted diluted EPS was 13.7 cents, despite weak Coatings demand. Statutory loss of $45.5m reflects a $110.5m loss on the H1 2025 sale of the Talc business. Elementis completed strategic portfolio moves (Alchemy acquisition, Talc disposal) while returning cash to shareholders through dividends and a $53.8m buyback and entering an agreement to sell its pharmaceutical manufacturing business (expected Q2 2026).

Headline financials

Revenue $597.5m (down 1.0% reported, 1.9% constant currency). Adjusted operating profit $126.7m (+4.6% cc) and adjusted operating margin 21.2% (+150bps). Adjusted PBT $107.5m and adjusted diluted EPS 13.7 cents. Statutory loss $45.5m driven by $110.5m loss on Talc disposal.

Segment performance — Personal Care

Personal Care revenue $224.5m (+2.4% cc), adjusted operating profit $72.8m and margin 32.4% (strong improvement driven by pricing, volumes and cost actions). Personal Care now ~37.6% of Group revenue and ~50.8% of adjusted operating profit.

Segment performance — Coatings

Coatings revenue $373.0m (down 4.3% cc) with adjusted operating profit $70.4m and resilient margin of 18.9%; Energy sub‑business performed well but overall volumes were weak across regions.

Cash, balance sheet and returns

Net debt $185.4m (net debt/EBITDA 1.3x pre‑IFRS16). Free cash flow $41.0m; adjusted operating cash flow $104.7m. Share buyback of $53.8m completed in 2025 and full-year dividend 4.3 cents per share (final 3.0 cents proposed, +7.5%).

Portfolio & M&A

Acquired Alchemy for $22m (Nov 2025) to expand natural skincare/cosmetics rheology capability. Agreed sale of pharmaceutical manufacturing business to ABF for ~€34m (c.$40m), expected to complete Q2 2026; that business contributed ~$35m revenue in 2025.

Costs, savings and operations

$18m of cost savings delivered in 2025 with a further $4m targeted in 2026 (part of an additional $10m programme). Debottlenecking at St. Louis increased capacity utilisation by ~20% since H1 2025. Adjusting items before tax $17.6m in 2025.

Strategy & medium‑term targets

"Elevate Elementis" positions the company as a pure‑play specialty chemicals business with targets: mid‑single digit revenue growth through the cycle, adjusted operating margin 23%+, three‑year operating cash conversion >90%, and ROCE (ex‑goodwill) >30%.

Innovation & sustainability

Innovation revenue rose 200bps to 16.4%; R&D investment being increased toward 3% of Group revenue. Sustainability progress includes SBTi-validated GHG targets, rooftop solar/low-carbon electricity rollouts and zero lost time accidents in 2025.

Outlook

Management notes continued softness in Coatings demand and geopolitical uncertainty but expresses confidence in another year of progress given portfolio repositioning, operational momentum and strategic actions started under Elevate Elementis.