Atmus Filtration Technologies (ATMU) Corporate presentation summary

Business profile

• FY24 net sales $1.7bn; geographic mix: U.S. and Canada 52%, Europe, Middle East and Africa 17%, Asia Pacific 17%, Latin America 14%.

• Founded in 1958; 10 manufacturing facilities plus 10 at joint ventures, 5 technical centers plus 2 at joint ventures, ~4,500 employees, and 1,200+ issued and pending patents.

• Aftermarket accounted for 86% of sales; end markets span on-highway vehicles and off-highway agriculture, construction, mining and power generation.

• FY24 sales mix was 60% on-highway and 40% off-highway; key customer relationships span 10+ years.

Strategy and competitive position

• Differentiators include technology leadership, deep industry knowledge, the Fleetguard brand, leading OEM partnerships, global multichannel reach and an experienced leadership team.

• Growth priorities: gain first-fit share in core markets, accelerate profitable aftermarket growth, transform the supply chain and expand into industrial filtration.

• 2024 milestones included completing the March Cummins share exchange, launching a capital return program, and establishing an independent distribution network covering 95% of sales volume.

• FY24 sales by channel: 86% aftermarket and 14% first fit; 45,000+ independent aftermarket retail outlets serve markets across six continents.

FY24 financial performance

• Sales $1,670M, adjusted EBITDA $330M, adjusted EBITDA margin 19.7%, adjusted free cash flow $115M and adjusted EPS $2.50.

• GAAP net income was $186M, diluted EPS $2.22 and cash provided by operating activities $105M for the 12 months ended Dec. 31, 2024.

• 2022–2024 CAGRs: net sales 3.4%, gross profit 13.4% and adjusted EBITDA 16.4%; adjusted free cash flow was $129M in 2022, $152M in 2023 and $115M in 2024.

• Aftermarket exposure and a large installed base with multi-year useful lives support recurring revenue and cash generation; industrial filtration is an additional growth avenue.