Enovis Corporation · NYSE:ENOV
Enovis — Q4 2024 Earnings Presentation
23 slides from Enovis's earnings presentation, Feb 26, 2025
Slide 1: Fourth Quarter 2024 Results
Fourth Quarter 2024 Results February 26th, 2025
Slide 2: Forward-looking Statements Non-GAAP Financial Information
Forward-looking Statements Non-GAAP Financial Information This presentation includes forward-looking statements, including forward-looking statements Enovis has provided in this presentation financial information that has not been prepared in accordance with within the meaning of the U.S. Private Se
Slide 3: Q4 2024 Highlights
Q4 2024 Highlights • +23% reported growth, +7% xFx on a comparable basis • +10% comparable growth in Recon • +3% comparable growth in P&R • Successfully executing Lima integration plans • Double-digit growth OUS with cross-selling opportunities advancing • Executing against near and long-term cost s
Slide 4: Q4 Reconstructive Segment Sales Performance
Q4 Reconstructive Segment Sales Performance Reconstructive Q4 Sales • WW performance back to above market growth • +10% Recon growth on a comparable basis Growth: +59% Y/Y, +10% Comparable • DD global growth in both Hip/Knee and Extremities • US comparable growth of 7% • US channel integration compl
Slide 5: Integration of Lima Continues to Track Above Expectations
Integration of Lima Continues to Track Above Expectations 2024 Goals Progress 3 Year Goals/Focus Retain Key Talent & Partners ▪ Drive Cross-Selling to Support HSD/LDD growth Integrate Commercial Channel ▪ Ramp to >$40M of Cost Synergy with less than $30M impact Capture greater than $10M of cost ▪ Ex
Slide 6: Q4 Prevention & Recovery Segment Sales Performance
Q4 Prevention & Recovery Segment Sales Performance P&R Q4 Sales • Comparable growth of 3% • Global Bracing growth of 5% Growth: +2% Y/Y, +3% Comparable • Stable market environment • Diverse set of products and channels • Adjusted EBITDA margin expansion +130bps Recovery Sciences Q4 ‘24 Y/Y Bracing S
Slide 7: P&L Performance
P&L Performance millions Q4 2023 Q4 2024 millions FY 2023 FY 2024 Net Sales $455 $561 Net Sales $1,707 $2,108 Adj. Gross Profit $267 $337 Adj. Gross Profit $993 $1,250 Margin 58.6% 60.1% Margin 58.2% 59.3% Adj. EBITDA $82 $113 Adj. EBITDA $269 $377 Margin 18.0% 20.1% Margin 15.8% 17.9% Adj. EPS $0.7
Slide 8: Met/Exceeded Full Year Guidance
Met/Exceeded Full Year Guidance February May August November Actual Reported Revenue $2.05-$2.15B $2.06-$2.16B $2.08-$2.13B ~$2.10B $2.11B (+5.5%*) aEBITDA $365-$380mm $368-$383mm $368-$383mm $373-$378mm $377mm Depreciation $115-$120mm $115-$120mm $115-$120mm ~$115mm $117mm Interest Expense $70-$75m
Slide 9: Full Year 2024 Progression
Full Year 2024 Progression Comparable sales growth vs. 2023 (%, constant currency) • Q/Q improvements in Recon Recon P&R performance during major 10.1 periods of integration 8.6 8.2 6.6 7.0 7.1 • Acceleration in 2H24, 5.5 4.9 5.0 5.2 2.9 3.3 2.6 3.4 3.0 momentum into YE on NPI and focused execution
Slide 10: Full Year 2025 Outlook
Full Year 2025 Outlook 2024 Results 2025 Outlook Comments • Global markets grow in line with historical Revenue $2.11B $2.19-$2.22B averages • ~6.0-6.5% core organic xFx growth aEBITDA $377mm $405-$415mm • 1-2% Fx headwind at current rates • HSD recon growth, P&R stable at LSD Depreciation $117mm $1
Slide 11: Summary
Summary • Solid Q4 and Full Year performance against 2024 Strategic Goals, starting 2025 with encouraging momentum • Lima acquisition exceeded all year-one targets • Underlying growth fundamentals in position to accelerate in 2025 behind new product launches • 2025 Guidance of ~$2.2B of sales, stron
Slide 12: Appendix
Appendix enovis. Creating Better Together” 2
Slide 13: QTD Comparable Sales
QTD Comparable Sales © 2025 Enovis Corporation
Slide 14: QTD Adjusted EPS Reconciliation
QTD Adjusted EPS Reconciliation © 2025 Enovis Corporation
Slide 15: QTD Adjusted EBITDA Reconciliation
QTD Adjusted EBITDA Reconciliation © 2025 Enovis Corporation
Slide 16: QTD Adjusted Gross Margin Reconciliation
QTD Adjusted Gross Margin Reconciliation © 2025 Enovis Corporation
Slide 17: Q4'24 GAAP to Adjusted Non-GAAP Financial Measures
Q4’24 GAAP to Adjusted Non-GAAP Financial Measures © 2025 Enovis Corporation
Slide 18: Q4'23 GAAP to Adjusted Non-GAAP Financial Measures
Q4’23 GAAP to Adjusted Non-GAAP Financial Measures © 2025 Enovis Corporation
Slide 19: Full Year 2024 GAAP to Adjusted Non-GAAP Financial Measures
Full Year 2024 GAAP to Adjusted Non-GAAP Financial Measures © 2025 Enovis Corporation
Slide 20: Full Year 2023 GAAP to Adjusted Non-GAAP Financial Measures
Full Year 2023 GAAP to Adjusted Non-GAAP Financial Measures © 2025 Enovis Corporation
Slide 21: Selected Historical Financial Information With Lima – Q424
Selected Historical Financial Information With Lima – Q424 3-months ended 12/31/2024 (Unaudited: $ in millions) (1): Represents historical financial statements of Enovis Corporation, adjusted to exclude the impact of the acquired Lima and Novastep businesses as reflected in columns (B) and (C), resp
Slide 22: Selected Historical Financial Information With Lima – FY2024
Selected Historical Financial Information With Lima – FY2024 Year ended 12/31/2024 (Unaudited: $ in millions) (1): Represents historical financial statements of Enovis Corporation, adjusted to exclude the impact of the acquired Lima and Novastep businesses as reflected in columns (B) and (C), respec
Slide 23: enovis.
enovis. Creating Better Together”