Elementis PLC

Latest Results (09.07.2026):

Elementis PLC — results for the year ended 31 December 2025 (reported at Q4 2025). Elementis delivered a resilient FY2025 with revenue of $597.5m (‑1.0% reported, ‑1.9% constant currency) and adjusted operating profit of $126.7m (adjusted margin 21.2%, +150bps cc). Personal Care grew (revenue $224.5m, margin 32.4%) while Coatings saw softer demand (revenue $373.0m, margin 18.9%). Statutory loss was $45.5m reflecting a $110.5m loss on the sale of the Talc business. The Group completed a $53.8m share buyback, ended the year with net debt of $185.4m (net debt/EBITDA 1.3x) and proposed a final dividend of 3.0 cents (full-year 4.3 cents, +7.5%). Management launched the Elevate Elementis strategy, completed the $22m Alchemy acquisition and agreed the sale of its pharmaceutical manufacturing business to ABF (expected Q2 2026).

Financial headline

Revenue $597.5m (FY2025, ‑1.0% reported / ‑1.9% cc). Adjusted operating profit $126.7m (+4.6% cc) and adjusted operating margin 21.2% (+150bps cc). Statutory loss $45.5m after a $110.5m loss on Talc disposal.

Divisional performance

Personal Care: $224.5m revenue (+2.4% cc), adjusted operating profit $72.8m, margin 32.4% (strong pricing, volumes and cost actions). Coatings: $373.0m revenue (‑4.3% cc), adjusted operating profit $70.4m, margin 18.9% (weaker volumes; Energy business performed well).

Cash, capital returns and balance sheet

Net debt $185.4m at year end; net debt/EBITDA 1.3x (pre‑IFRS16). Share buyback ~$53.8m completed (c.£40m). Free cash flow $41.0m; adjusted operating cash flow $104.7m. Final dividend proposed 3.0c (full-year 4.3c, +7.5%).

Strategy, M&A and disposals

Elevate Elementis strategy launched to focus on specialty chemicals with medium‑term targets (mid‑single digit growth, >23% adjusted margin, >90% 3‑yr cash conversion, ROCE >30%). Acquired Alchemy for $22m (Nov‑2025). Agreed sale of pharmaceutical manufacturing business to ABF for ~€34m (c.$40m), expected Q2 2026.

Costs, savings and margins

Adjusted operating profit and margins benefited from $18m of cost savings delivered in 2025 (additional $4m targeted for 2026 as part of announced $10m incremental savings). Adjusting items before tax ~$17.6m in 2025.

Innovation and commercial momentum

Innovation revenue increased 200bps to 16.4% of Group sales; R&D investment increased target from 2% to 3% of revenue. New-product momentum and pipeline: Personal Care new/innovation revenue 22.2%; Coatings pipeline $170m.

Operational & sustainability progress

Debottlenecking at St. Louis lifted capacity utilisation ~20% since H1 2025. Safety: zero lost time accidents in 2025 (four recordable but non‑serious injuries). SBTi‑validated GHG target in place and moves on low‑carbon electricity and biobased product launches continue.

Outlook

Management expects another year of progress despite soft coatings demand and geopolitical uncertainty, pointing to continued focus on innovation, customer intimacy, operational simplification and returning proceeds from disposals to shareholders.