Slide 1: Fourth quarter and full year 2024 results
February 12, 2025 Fourth quarter and full year 2024 results © GXO Logistics, Inc.
Slide 2: Disclaimer
Disclaimer Non-GAAP Financial Measures: As required by the rules of the Securities and Exchange Commission (“SEC”), we provide reconciliations of the non-GAAP financial measures contained in this presentation to the most directly comparable measure under GAAP, which are set forth in the financial ta
Slide 3: Presenters
Presenters Malcolm Wilson Baris Oran Kristine Kubacki Chief Executive Officer Chief Financial Officer Chief Strategy Officer © GXO Logistics, Inc. 3
Slide 4: GXO is building the supply chain of the future
GXO is building the supply chain of the future. We design and operate the most technologically advanced logistics solutions in the world. © © GXO GXO Logistics, Logistics, Inc. Inc. 4
Slide 5: Our value creation framework
Our value creation framework Outsized growth driven 1 by secular tailwinds 4 Customer-centric culture 2 Global scale 5 Effective capital allocation Leadership in technology Compelling financial profile 3 and automation 6 and long-term growth algorithm © © GXO GXO Logistics, Logistics, Inc. Inc. 5 5
Slide 6: 4Q 2024 executive summary
4Q 2024 executive summary Delivered record revenues and adjusted EBITDA (1) Organic growth accelerated every quarter throughout 2024 (1) Closed more than $1 billion of new business wins in 2024 (2) Won a landmark $2.5-billion-dollar contract in the health sector (1) Refer to the ‘Non-GAAP Financial
Slide 7: 4Q 2024 financial highlights
4Q 2024 financial highlights Key highlights Organic Revenue $3.3 billion revenue(1) up 4% • Signed new business wins of $366 million in annualized revenue Adjusted during 4Q 2024(2) Net income $100 million EBITDA(1) $251 million • Sales pipeline has increased 15% year over year to $2.3 billion as of
Slide 8: 4Q 2024 revenue growth
4Q 2024 revenue growth (In millions USD) 20% 1% Net M&A FX $3,250 25% 4% revenue Organic(1) growth $2,590 4Q 2023 Revenue Organic growth Net M&A FX 4Q 2024 Revenue Year-over-year revenue growth in 4Q was 25%, of which 4% was organic(1) © GXO Logistics, Inc. (1) Refer to the ‘Non-GAAP Financial Measu
Slide 9: 2024 wins and expansions
2024 wins and expansions © GXO Logistics, Inc. 9
Slide 10: New contract wins and outsourcing underpin long-term growth
New contract wins and outsourcing underpin long-term growth Expected incremental revenue contributions FY 2024 contract wins by source from contracts won through 4Q 2024 $627 million (1) signed for 2025 46% Won from 25% competitors Outsourcing Sites transferred Sites previously from other 3PLs opera
Slide 11: Strong cash flow and investment grade balance sheet
Strong cash flow and investment grade balance sheet 2024 cash flow and returns 4Q 2024 balance sheet Operating FY 2024 Total debt(1) cash flow $549 million $2,631 million Mostly fixed-rate borrowings Free cash FY 2024 Net debt(1,2) flow(2) Liquidity of $1,412 million $251 million $2,218 million avai
Slide 12: FY 2024 financial highlights
FY 2024 financial highlights Key highlights Organic Revenue $11.7 billion revenue(1) up 3% • Record revenue and adjusted EBITDA(1) Adjusted Net income $138 million EBITDA(1) $815 million • New business wins of more than $1 billion; +10% year over year(2) Operating Free cash cash flow $549 million fl
Slide 13: FY 2025 guidance
FY 2025 guidance 2025 guidance(1) Organic revenue growth(2) 3% – 6% Adjusted EBITDA(2) $840 – $860 million Adjusted EBITDA(2) to free cash flow conversion 25% – 35% Adjusted diluted EPS(2) $2.40 – $2.60 Adjusted EBITDAR(3) $2.23 – $2.26 billion (1) Based on current FX rates (2) Refer to the ‘Non-GAA
Slide 14: FY 2025 adjusted EBITDA bridge
FY 2025 adjusted EBITDA(1) bridge (In millions USD) a $35-$45 $(15)-$(20) • Strong new business wins see profitability build through 2025 $840-$860 as productivity increases • New contracts offset impact of $25-$30 c customer capacity realignment linked to a few large customers $815 ~$(15) b b • Inc
Slide 15: Q1 2025 adjusted EBITDA bridge
Q1 2025 adjusted EBITDA(1) bridge (In millions USD) a • Strong new business wins see profitability build through 2025 as productivity increases • Impact of customer capacity ~$19 ~$(3) $153-$157 realignment and open space $154 ~$(15) more pronounced in Q1 c a b b • Incremental three months of Wincan
Slide 16: The GXO investment case
The GXO investment case Compelling financial Effective capital The GXO Difference profile allocation framework • Tech and automation leadership + + • Invest in innovation and organic = • Structural organic growth • Global scale growth • Resilient margins • Trusted expertise • Investment grade balanc
Slide 17: Appendix
Appendix
Slide 18: Reconciliation of net income to adjusted EBITDA and adjusted EBITDA margins
GXO Logistics, Inc. Reconciliation of net income to adjusted EBITDA and adjusted EBITDA margins (unaudited) Three months ended December 31, Year ended December 31, (In millions USD) 2024 2023 2024 2023 Net income attributable to GXO $ 100 $ 73 $ 134 $ 229 Net income attributable noncontrolling inter
Slide 19: Reconciliation of net income to adjusted EBITA and adjusted EBITA margins
GXO Logistics, Inc. Reconciliation of net income to adjusted EBITA and adjusted EBITA margins (unaudited) Three months ended December 31, Year ended December 31, (In millions USD) 2024 2023 2024 2023 Net income attributable to GXO $ 100 $ 73 $ 134 $ 229 Net income attributable to NCI — — 4 4 Net inc
Slide 20: Reconciliation of net income to adjusted net income and adjusted EPS
GXO Logistics, Inc. Reconciliation of net income to adjusted net income and adjusted earnings per share (unaudited) Three months ended December 31, Year ended December 31, (Dollars in millions, shares in thousands, except per share amounts) 2024 2023 2024 2023 Net income $ 100 $ 73 $ 138 $ 233 Net i
Slide 21: Other reconciliations: free cash flow
GXO Logistics, Inc. Other reconciliations (unaudited) Reconciliation of cash flows from operations to free cash flow: Three months ended December 31, Year ended December 31, (In millions USD) 2024 2023 2024 2023 Cash flows from operations (1) $ 186 $ 215 $ 549 $ 558 Capital expenditures (104) (69) (
Slide 22: Other reconciliations: organic revenue
GXO Logistics, Inc. Other reconciliations (unaudited) Reconciliation of revenue to organic revenue: Three months ended December 31, Year ended December 31, (In millions USD) 2024 2023 2024 2023 Revenue $ 3,250 $ 2,590 $ 11,709 $ 9,778 Revenue from acquired business(1) (538) — (1,588) — Revenue from
Slide 23: Liquidity reconciliations
GXO Logistics, Inc. Liquidity reconciliations (unaudited) Reconciliation of total debt and net debt: (In millions USD) December 31, 2024 Current debt $ 110 Long-term debt 2,521 Total debt(1) $ 2,631 Less: Cash and cash equivalents (excluding restricted cash) (413) Net debt(2) $ 2,218 Reconciliation
Slide 24: Return on invested capital
GXO Logistics, Inc. Return on invested capital (unaudited) Adjusted EBITA, net of income taxes paid: Year ended (In millions USD) December 31, 2024 Adjusted EBITA(1) $ 508 Less: Cash paid for income taxes (43) Adjusted EBITA(1), net of income taxes paid $ 465 Return on invested capital: Year ended D
Slide 25: Reconciliation of net loss to adjusted EBITDA
GXO Logistics, Inc. Reconciliation of net loss to adjusted EBITDA (unaudited) Three months ended March 31, (In millions USD) 2024 Net loss attributable to GXO $ (37) Net income attributable noncontrolling interest 1 Net loss $ (36) Interest expense, net 13 Income tax benefit (10) Depreciation and am