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TI Fluid Systems (TIFS) investor relations material
TI Fluid Systems Q4 2024 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Revenue declined 4.4% year-over-year to €3,360.3m, with constant currency decline of 3.5%, reflecting industry headwinds and regional market challenges.
Adjusted EBIT margin expanded 40bps to 7.8% due to productivity and efficiency initiatives, despite lower volumes and persistent labor inflation.
Adjusted Net Income rose 2.9% to €136.7m and Adjusted EPS increased 5.7% to 27.2 Euro cents, reflecting operational discipline and share buybacks.
Largest annual cash return to shareholders since IPO, totaling €69.2m via dividends and share buybacks.
Pending acquisition by ABC Technologies expected to complete in H1 2025.
Financial highlights
Adjusted EBIT up 0.5% to €260.8m; Adjusted EBITDA up 0.5% to €394.9m.
Adjusted Free Cash Flow of €113.0m, with 29% conversion of Adjusted EBITDA, in line with guidance.
Statutory Operating Profit fell 32% to €132.4m due to higher restructuring costs and a non-cash write-down from the Americas product line exit.
Profit for the year (statutory) was €32.5m, down from €83.6m.
Net leverage at 1.6x Adjusted EBITDA; Adjusted ROCE at 26.8%.
Outlook and guidance
2025 expected to be a transition year with flat global light vehicle production before growth resumes in 2026-27.
Strategic focus on EV growth, operational efficiency, and capitalizing on slower ICE decline.
No final dividend for 2024 due to pending acquisition; future returns to be determined post-transaction.
- Revenue rose 11.1% at constant currency as adjusted EBIT margin reached 7.4%.TIFS
H2 2023 - Electrification, margin recovery, and sustainability drive growth and shareholder value.TIFS
Investor Presentation - Revenue down 2.9% YTD, bookings up 9%, with EMEA outperforming amid market headwinds.TIFS
Q3 2024 TU - Adjusted EBIT margin rose to 7.9% and bookings increased 11% despite softer revenue.TIFS
H1 2024
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