BARCELONA, Spain--(BUSINESS WIRE)--
Fluidra, the global leader in equipment and connected solutions in the pool and wellness sector, achieved sales of €2,102 million in 2024, up 3%, at the top end of their expectations for the year.
Adjusted EBITDA amounted to €477 million, up 7% year-on-year, despite inflation in operating expenses, which was more than compensated by the gross margin expansion, benefitting from the Simplification Program, together with positive geographic mix effects and lower raw material costs.
Net income was €138 million, an increase of 21% year-on-year. Adjusted Net Profit stood at €233 million, increasing 10% year-on-year. Cash generation was good, reducing net debt by €40 million year-on-year. At the end of December, the ratio of net debt to Adjusted EBITDA stood at 2.4 times, down 0.3x versus same time last year.
In 2024, North America delivered a strong organic performance, with sales up 7%. Southern Europe and Rest of Europe were down 4% and 1%, respectively. Rest of the world grew 4%. Fluidra finished the year with revenue growth across all regions in Q4, including double-digit growth in North America.
The Simplification Program to drive a more efficient organisation and deliver margin expansion is on track. Cumulative savings since it was launched two years ago amounted to €68 million by the end of 2024. The program is expected to reach its goal of a total of €100 million savings, with global strategic procurement efforts and product design-to-value initiatives as the main value drivers.
2025 guidance
Fluidra has also announced its guidance for 2025. The Company has a positive outlook, anticipating organic sales growth and margin expansion. Fluidra expects 2025 sales between €2,140 and 2,250 million, Adjusted EBITDA between €500 and 540 million and Adjusted EPS between €1.33 and 1.48 per share.
Eloi Planes, Fluidra’s Executive Chairman, said: “We delivered a strong performance in 2024, marking a return to growth. For this coming year, while macro and geopolitical uncertainty remains, we are confident in delivering organic growth alongside continued margin expansion.
Beyond 2025, we are strengthening our leadership in a structurally attractive industry, with long-term growth underpinned by favorable growth drivers and a recurrent aftermarket. Our focus remains on securing long-term success, offering more connected and sustainable products. As the global leader in the pool and wellness sector, I am confident in the attractiveness of our industry and our ability to create value for all stakeholders.”
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