Chart Industries (GTLS) CMD 2024 summary

Safety and Operational Excellence

• Achieved lowest-ever total recordable incident rate (TRIR) of 0.43, a 20% reduction year-over-year, and lowest lost-time incident rate of 0.13, down 35% from last year.

• Safety is closely linked to team engagement and operational execution, with a goal of zero accidents.

• Hundreds of employees trained in Six Sigma and Kaizen, driving margin and throughput improvements.

• Friction stir welding implemented, reducing poor quality costs by over 50% and improving manpower efficiency.

• Chart Business Excellence and digitalization drive productivity, customer service, and aftermarket expansion.

Strategic Vision and Business Overview

• Aims to be the global independent leader in process technologies and equipment for gas and liquid molecule handling, serving clean power, water, food, and industrials.

• Operates in 50 countries with 64 manufacturing and 50+ service sites, supporting a 450,000-unit installed base as of 2024.

• Portfolio spans LNG, hydrogen, biogas, CO2 capture, water treatment, data centers, and more, with a molecule-agnostic approach.

• Competitive advantages include engineering expertise, flexible manufacturing, global proximity, and a unified operating system.

Business Model Evolution and Strategic Positioning

• Molecule-agnostic manufacturing enables serving diverse end markets without changing product lines.

• Aftermarket service, repair, and leasing now comprise 33% of revenue, up from 0% in 2017.

• 64 global manufacturing sites and 50 service centers support over 300 new customers annually.

• Divested biomedical business to redeploy capital into core and growth areas.