v3.26.3
Segment reporting (Tables)
 9 Months Ended
Sep. 30, 2026
Segment Reporting [Abstract]  
Schedule of segment reporting
Revenues are reported for the Equipment and Service groupings described above; sub-unit information is presented where it is regularly provided to the CODM.

Three Months Ended September 30,Nine Months Ended September 30,
(in millions of $)
2026202520262025
Equipment revenue
Data Center463.0 38.5 802.4 208.7 
Power Solutions239.4 326.8 681.1 622.6 
Compression75.2 52.1 185.8 150.4 
Total equipment revenue
777.6 417.4 1,669.3 981.7 
Service revenue
Transactional268.8 218.0 711.0 582.8 
Contractual121.5 107.3 393.9 331.7 
Total service revenue
390.3 325.3 1,104.9 914.5 
Total revenue
1,167.9 742.7 2,774.2 1,896.2 
Selected financial information for each segment is as follows:
Three Months Ended September 30, 2026
 (in millions of $)
EquipmentServiceTotal from Reportable Segments
Total revenue
777.6 390.3 1,167.9 
Less: Significant segment expenses regularly provided to the CODM (a)
Cost of goods and services sold
(580.4)(219.8)(800.2)
Research and development
(20.9)(11.3)(32.2)
Selling, general and administrative expenses
(59.9)(49.8)(109.7)
Depreciation and amortization14.4 11.8 26.2 
Other non-cash items (b)1.5 1.0 2.5 
Management adjustments (c)0.8 1.4 2.2 
Other segment items (d)
(0.3)0.1 (0.2)
Adjusted Segment EBITDA (e)
132.8 123.7 256.5 

Three Months Ended September 30, 2025
 (in millions of $)
EquipmentServiceTotal from Reportable Segments
Total revenue417.4 325.3 742.7 
Less: Significant segment expenses regularly provided to the CODM (a)
Cost of goods and services sold(310.6)(191.5)(502.1)
Research and development(15.6)(14.7)(30.3)
Selling, general and administrative expenses(41.8)(46.2)(88.0)
Depreciation and amortization12.5 15.6 28.1 
Other non-cash items (b)1.3 1.0 2.3 
Management adjustments (c)0.2 0.8 1.0 
Other segment items (d)2.3 (0.2)2.1 
Adjusted Segment EBITDA (e)65.7 90.1 155.8 
Nine Months Ended September 30, 2026
(in millions of $)
EquipmentServiceTotal from Reportable Segments
Total revenue
1,669.3 1,104.9 2,774.2 
Less: Significant segment expenses regularly provided to the CODM (a)
Cost of goods and services sold
(1,242.8)(622.0)(1,864.8)
Research and development
(60.1)(32.9)(93.0)
Selling, general and administrative expenses
(180.4)(150.1)(330.5)
Depreciation and amortization41.5 37.0 78.5 
Other non-cash items (b)4.8 3.2 8.0 
Management adjustments (c)1.4 2.9 4.3 
Other segment items (d)
0.7 0.4 1.1 
Adjusted Segment EBITDA (e)
234.4 343.4 577.8 
Nine Months Ended September 30, 2025
 (in millions of $)EquipmentServiceTotal from Reportable Segments
Total revenue981.7 914.5 1,896.2 
Less: Significant segment expenses regularly provided to the CODM (a)
Cost of goods and services sold(708.1)(529.7)(1,237.8)
Research and development(39.4)(37.4)(76.8)
Selling, general and administrative expenses(115.1)(127.1)(242.2)
Depreciation and amortization34.3 41.7 76.0 
Other non-cash items (b)3.5 2.5 6.0 
Management adjustments (c)0.4 1.7 2.1 
Other segment items (d)2.8 (0.1)2.7 
Adjusted Segment EBITDA (e)160.1 266.1 426.2 
(a) Significant segment expenses represent categories that are regularly provided to and used by the CODM to assess performance and allocate resources. These include Cost of equipment and products sold, Cost of services sold, Selling, general and administrative expenses, Research and development expenses, and Other segment items that are not individually significant.
(b) Other non-cash items include amortization expenses of capitalized costs to obtain contracts.
(c) Management adjustments are described below in the reconciliation of Adjusted Segment EBITDA to Net income.
(d) Other segment items represent the residual components of the CODM measure of segment profit that are not otherwise separately disclosed as revenue or significant expense categories. It primarily includes Other operating (income) expense - net and other non-significant cost categories (including certain shared or allocated costs included in segment results) that are reviewed by the CODM in aggregate (e.g., foreign currency transaction gains and losses, gains and losses on asset disposals, and miscellaneous operating items).
(e) Adjusted Segment EBITDA is the CODM’s segment profit measure. Corporate/unallocated costs ("HQ") are not included in Adjusted Segment EBITDA and are presented in the reconciliation to consolidated Net income.
Schedule of reconciliation of profit (loss) by segment
Three Months Ended September 30,Nine Months Ended September 30,
 (in millions of $)
2026202520262025
Total Adjusted Segment EBITDA
256.5 155.8 577.8 426.2 
Unallocated corporate costs (HQ & other not included in Adjusted Segment EBITDA)
(11.1)(11.6)(37.6)(24.0)
Acquisition and Divestment related gains (losses) - net(1.7)(0.6)(2.4)(1.0)
Transaction costs(0.1)(0.1)(4.7)(0.1)
Transformation costs(2.0)(2.7)(7.3)(8.4)
IPO and Public market readiness costs(2.5)(4.8)(93.6)(4.9)
Share-based compensation(3.9)— (5.0)— 
Management adjustments(10.2)(8.2)(113.0)(14.4)
Other non-cash items(2.5)(2.3)(8.0)(6.0)
Depreciation and amortization
(39.1)(41.1)(117.4)(113.2)
Other income (expense) - net
4.0 (3.3)10.9 (1.8)
Interest expense and related financing costs - net
(46.9)(34.9)(170.6)(84.9)
Income tax expense(41.5)(14.9)(58.8)(45.0)
Net income (loss)
109.2 39.5 83.3 136.9 
Schedule of Incurred Costs During the nine months ended September 30, 2026, the Company incurred the following costs:
•Long-term incentive program 2023
$61.5 million
•Costs related to financial statements in US GAAP and comfort letter costs related to S1 filing
$18.8 million
•Others
$5.9 million
•Advisory fees
$4.6 million
•Legal fees
$2.8 million