In Q4 2024, net sales grew 30% and Adjusted EBITDA increased 33%, contributing to a full-year increase of 32% in Adjusted Net Sales and 32% Adjusted EBITDA growth.Highlights for the Year Ended 2024 as compared to the Year Ended 2023
Net sales increased 30.0% to $5,528.6 million and Adjusted Net Sales increased 32.4% to $5,528.6 million.
Gross margin and Adjusted Gross Margin increased 320 and 220 basis points, respectively.
Operating income increased 72.4% to $644.2 million. Adjusted Operating Income increased 31.5% to $839.5 million.
Net income increased 162.6% to $438.7 million. Adjusted Net Income increased 37.2% to $616.2 million.
Adjusted EBITDA increased 32.2% to $951.1 million, or 17.2% of Adjusted Net Sales.
Mark Barrocas, Chief Executive Officer, commented, “SharkNinja delivered exceptional performance throughout 2024, capping off our strongest year to date with outstanding fourth quarter results. Our proven three-pillar growth strategy continues to drive market share gains across our expanding product portfolio, fuel category expansion, and accelerate our global presence
Category Archives: Financial
Acquisitions fuel uptick in Electrolux Professional sales
Electrolux Professional’s CEO Alberto Zanata has said the company “expects to continue our improvements” in 2025 after registering a 12% increase in sales during the fourth quarter.
Revenue for the three months to the end of December rose to SEK3.3 billion (£241m), with the company posting organic growth of 3% while acquisitions contributed almost 8%.
French induction cooking manufacturer Adventys was among the companies that Electrolux Professional bought last year, along with Japanese laundry firm TOSEI.
Arcelik financial
Arçelik has released its financial data for Q4 2024. Sales increased by 19% year-on-year to 108.3 billion Turkish liras (€3 billion), but were down 3% from the previous quarter. EBITDA dropped by 9% to 4.8 billion Turkish liras (€0.13 billion), with a profit of 1.7 billion Turkish liras reported to shareholders.
For the entire year of 2024, Beko Europe’s parent company recorded sales of 428.5 billion Turkish liras (€11.61 billion) and an operating profit of 15.8 billion Turkish liras (€0.4 billion), a 30% decrease. EBITDA was 25% lower than in 2023, at 23 billion Turkish liras.
Whirlpool shares fall
Whirlpool shares are falling sharply following the appliance manufacturer’s fourth quarter earnings report, which fell short of analysts’ expectations. The company missed Wall Street’s revenue and profit forecasts, while also issuing lower-than-expected guidance for 2025.
Whirlpool India shares plunge as parent plans to halve stake
Whirlpool Corp said it would more than halve its stake in its Indian unit to about 20%, sending Whirlpool of India’s shares plunging an exchange-allowed maximum of 20% to a near ten-month low on Thursday.
The U.S.-listed home appliance maker, which currently has a 51% stake in the India unit, said it estimates net cash proceeds, opens new tab of $550 million to $600 million from the sale, which it expects to close by mid-to-late 2025.The company will remain Whirlpool of India’s largest shareholder, followed by a number of mutual funds with stakes of less than 10%.
Whirlpool Corp sold a 24% stake in the Indian unit for about $468 million last year and the latest sale comes as it aims to pay off a major chunk of its debt amid a major rejig of its global assets, including folding its European business into a new firm and selling its Middle Eastern and African businesses
Elica renews Ducati Corse sponsorship
Elica will once again be the Official Sponsor of Ducati Corse for the 2025 MotoGP Championship. The renewal of the agreement was announced in Madonna di Campiglio during the presentation of the riders, including the highly anticipated Marc Marquez, during a ceremony attended by the entire Ducati team and Elica Chief Sales & Marketing Officer Marco Garbuglia .
Groupe SEB: Consumer sales recover
After the difficult phase, Groupe SEB resumes growth by 5% in 2024, drawing satisfaction from the sales of Tefal, Moulinex, Krups, Rowenta, Lagostina, Emsa and Wmf also in Western Europe. Little satisfaction from the professional segment, which increases by only 1.4% and does not exceed one billion euros despite the investments of the management.The Professional area in which the group had invested by acquiring the brands La San Marco, Pacojet, Forge Adour and Sofilace and which had driven sales and profits in the difficult years perhaps disappointed with an increase of only 1.4% just under one billion euros (but the operating margin increased by 10%).
LG drop in profit
LG Electronics logged 6.4 percent drop in operating profit due to slow demand recovery in global home appliances and surge in logistic costs last year, the company said.
The Korean electronics giant posted 3.4 trillion won ($2.4 billion) in operating profit for the full year of 2024, according to its earnings announcement on Thursday, falling short of 3.7 trillion won market consensus compiled by FnGuide.
Its revenue marked a record high of 87.7 trillion won during the same period.
Growth of home appliance and vehicle solutions businesses contributed to the record-high generation of revenue in 2024, the company explained. Its TV and business-to-business sales also improved its sales last year.
Electrolux Group receives EIB loan for development of energy efficient appliances
Electrolux Group has signed a €200 million loan with the European Investment Bank (EIB) to support research, development and innovation (RDI) on more energy-efficient household appliances.
The financing will enable Electrolux Group to develop advanced appliances for food preparation, food preservation, fabric care, and dish care, while also enhancing digital technologies across all product platforms. This support will back the Group’s research aimed at improving performance, user-friendliness, and user experience, as well as reducing energy consumption and resource use for a variety of household goods.
Currys results
Currys has recently highlighted the significant impact of Labour’s tax policies on its financial performance. In its half-year results for the six months ending 26 October 2024, the company estimated that these tax changes could cost up to £32 million.
This figure includes a £9 million increase due to National Living Wage hikes, a £12 million rise in National Insurance contributions, £2 million from inflation-based business rate increases, and up to £9 million in costs passed on from suppliers.
To mitigate these pressures, Currys plans to implement cost-saving measures such as process improvements, automation, offshoring, outsourcing, and overhead efficiencies. However, some price increases are expected to be unavoidable.
Despite these challenges, Currys reported a strong financial performance for the period. Adjusted earnings before interest and tax rose by 52% to £41 million, and group free cash flow increased to £50 million, up by £46 million. Revenue grew by 2% on a like-for-like basis, and the company ended the period with a net cash balance of £107 million.
CEO Alex Baldock expressed optimism about the company’s progress, noting significant growth in profits and cash flow, and a robust balance sheet. He highlighted the company’s preparedness for the peak trading period, with strong stock levels and competitive deals. Baldock also pointed out the rising demand for AI laptops, where Currys holds over 75% market share in the UK.
Looking ahead, Baldock remains confident in Currys’ ability to continue its growth trajectory, despite the new challenges posed by government policies. He emphasized the company’s focus on maintaining high levels of colleague engagement, increasing customer satisfaction, and growing cash flow for shareholders. Baldock also expressed gratitude to the Currys team for their hard work and dedication in driving the company’s success.
