Q4 2024 Fluidra SA Earnings Call Transcript
Key Points
- Fluidra SA (FLUIF) delivered a strong 2024 performance with sales and adjusted EBITDA growing by 3% and 7%, respectively.
- The company returned to year-on-year volume growth for the first time since 2021, with Q4 sales up 9% across all regions.
- Fluidra SA (FLUIF) achieved double-digit growth at the net profit level and improved cash generation, reducing leverage.
- The simplification program is on track, contributing to margin expansion and expected to deliver EUR100 million in savings by 2025.
- The company is well-positioned for sustained leadership in the global pool industry, with a focus on organic growth and margin expansion in 2025.
- Despite strong performance, Fluidra SA (FLUIF) faces macro and geopolitical uncertainties that could impact future growth.
- Operating expenses increased by 10% due to higher production volumes, inflation, and increased provisions, partially offsetting gross margin improvements.
- The company anticipates potential impacts from tariffs on Mexican imports, which could affect financial performance if not mitigated.
- New construction demand remains weaker year-on-year, with softer markets in France and Central Europe affecting overall growth.
- Free cash flow decreased to EUR85 million from EUR160 million last year, driven by lower contributions from net working capital and higher cash taxes.
Good morning, and welcome to our full year 2024 results call. I'm Clara Valera, Strategy, Investor Relations, and FP&A Senior Director. Joining me today on this call is our Executive Chairman, Eloy Planes; our CEO, Jaime Ramirez; and Xavier Tintore, our CFO. They will walk you through a few slides on our results, and then they will be available to take your questions. You can follow this presentation in its original English version or in Spanish. Please select your preferred option in the menu at the bottom right-hand side of your screen. (Event Instructions)
The presentation is accessible via our website, fluidra.com, and has also been uploaded to the Stock Exchange Commission this morning. A replay of today's presentation will be made available on our website later today. With that, I hand it over to our Executive Chairman, Eloy Planes.
Thank you, Clara. Good morning, and thank you for joining our
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