Business
Linamar Delivers Record Sales over $10 Billion, Exceptional Free Cash Flow and Another Year of Double-Digit Earnings Growth
GUELPH, Ontario, March 05, 2025 (GLOBE NEWSWIRE) -- (TSX: LNR) Strong financial performance...
About this update from Linamar Corporation
[{"type":"text","content":"Linamar Delivers Record Sales over $10 Billion, Exceptional Free Cash Flow and Another Year of Double-Digit Earnings Growth\n\n\n\n GUELPH, Ontario, March 05, 2025 (GLOBE NEWSWIRE) -- (TSX: LNR)\n \n\n\n Strong financial performance\n \n\n\n\n Sales up 8.7% to $10.6 billion in 2024;\n \n\n Normalized Operating Earnings\n \n 1\n \n up 18.1% in 2024; and\n \n\n Normalized Diluted Earnings per Share\n \n 1\n \n up 11.7% in 2024.\n \n\n\n\n\n Excellent Free Cash Flow\n \n\n\n\n $490.8 million of Free Cash Flow\n \n 1\n \n generated in Q4 2024, up $407.7 million from the prior year on stronger earnings and careful cash management; and\n \n\n Full year exceptional Free Cash Flow at $788 million, the 12\n \n th\n \n consecutive year of positive FCF.\n \n\n\n\n Returning Cash to Shareholders\n \n\n\n\n Linamar repurchased 0.7 million shares in the quarter as part of its normal course issuer bid;\n \n\n Linamar has repurchased 1.4 million shares since the start of the NCIB program in November 2024; and\n \n\n Linamar is maintaining its dividend to shareholders at quarterly $0.25 per share.\n \n\n\n\n Sales Growth in Both Segments on Strong Market Share Growth\n \n\n\n\n Sales up 16.9% for Industrial for the year, due to:\n \n\n Increased sales related to our most recent acquisition of Bourgault Industries Ltd.; and\n \n\n Market share growth in key agricultural markets.\n \n\n\n\n Sales up 5.7% for Mobility for the year despite market declines, driven by:\n \n\n Linamar Structures acquisitions completed in 2023;\n \n\n Launching programs; and\n \n\n Annual Content per vehicle\n \n 1\n \n (“CPV”) up 15% in North America reflective of continued market share growth.\n \n\n\n\n\n\n\n Mobility Segment Double Digit Annual Normalized Earnings Growth Continues\n \n\n\n\n Sales increased 5.7% to a record of almost $7.5 billion for 2024;\n \n\n Mobility segment normalized operating earnings of $427.7 million, up 30.6% compared to 2023; and\n \n\n Normalized 2024 margins of 5.7% up from 4.6% in prior year.\n \n\n\n\n\n Strong Performance in the Industrial Segment Continues\n \n\n\n\n Sales increased 4.9% to $637.1 million in Q4 2024 and up 16.9% to a record of almost $3.1 billion for 2024; and\n \n\n Industrial normalized operating earnings of $516.2 million are up 9.5% over 2023.\n \n\n\n\n\n\n\n\n\n\n\n\n\n Three Months Ended\n \n\n...