March 5, 2025, Guelph, Ontario, Canada (TSX: LNR)
Strong financial performance
- Sales up 8.7% to $10.6 billion in 2024;
- Normalized Operating Earnings1 up 18.1% in 2024; and
- Normalized Diluted Earnings per Share 1 up 11.7% in 2024.
Excellent Free Cash Flow
- $490.8 million of Free Cash Flow 1 generated in Q4 2024, up $407.7 million from the prior year on stronger earnings and careful cash management; and
- Full year exceptional Free Cash Flow at $788 million, the 12th consecutive year of positive FCF.
Returning Cash to Shareholders
- Linamar repurchased 0.7 million shares in the quarter as part of its normal course issuer bid;
- Linamar has repurchased 1.4 million shares since the start of the NCIB program in November 2024; and
- Linamar is maintaining its dividend to shareholders at quarterly $0.25 per share.
Sales Growth in Both Segments on Strong Market Share Growth
- Sales up 16.9% for Industrial for the year, due to:
- Increased sales related to our most recent acquisition of Bourgault Industries Ltd.; and
- Market share growth in key agricultural markets.
- Sales up 5.7% for Mobility for the year despite market declines, driven by:
- Linamar Structures acquisitions completed in 2023;
- Launching programs; and
- Annual Content per vehicle 1 (“CPV”) up 15% in North America reflective of continued market share growth.
Mobility Segment Double Digit Annual Normalized Earnings Growth Continues
- Sales increased 5.7% to a record of almost $7.5 billion for 2024;
- Mobility segment normalized operating earnings of $427.7 million, up 30.6% compared to 2023; and
- Normalized 2024 margins of 5.7% up from 4.6% in prior year.
Strong Performance in the Industrial Segment Continues
- Sales increased 4.9% to $637.1 million in Q4 2024 and up 16.9% to a record of almost $3.1 billion for 2024; and
- Industrial normalized operating earnings of $516.2 million are up 9.5% over 2023.
