Gates Industrial Corporation plc reported fourth-quarter 2024 net sales of $829.4 million, a 3.9% decrease year-over-year, with core sales declining 2.6%. For the full year 2024, net sales were $3,408.2 million, down 4.5% from the prior year, primarily due to lower volume and unfavorable foreign currency impacts.
Despite revenue declines, the company achieved full-year 2024 Adjusted EBITDA of $761.1 million, resulting in a 22.3% margin, an expansion of 140 basis points compared to 20.9% in the prior year. This improvement was driven by enterprise initiatives that enhanced manufacturing performance, pricing, and favorable mix, partially offset by lower volumes.
Gates Industrial introduced its full-year 2025 financial guidance, projecting core revenues to be in the range of down 0.5% to up 3.5%. Adjusted EBITDA is guided between $735 million and $795 million, with Adjusted earnings per share expected to be $1.36 to $1.52, reflecting anticipated margin improvements.
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