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Investing.com -- Accelleron reported robust results for 2024, surpassing the $1 billion revenue milestone, sending its shares up by over 2% on Thursday.
In 2024, Accelleron’s revenues reached $1.02 billion, marking an 11.8% increase from the previous year.
Operational EBITA grew by 17.4% to $261.9 million, while net income saw a significant rise of 63.1%, totaling $179.4 million.
The Board of Directors has proposed a dividend of CHF 1.25 per share, a 47% increase from the prior year, underscoring the company’s solid financial standing.
The Medium & Low Speed segment experienced a 16.3% revenue increase, reaching $773.5 million.
This growth was driven by heightened demand for marine products and services, particularly retrofit solutions that enhance fuel efficiency and reduce emissions.
Strategic acquisitions, including Italy’s OMC2 and Canada’s True North Marine (TNM), expanded Accelleron’s capabilities in fuel injection and marine digital solutions. Operational EBITA for this segment rose by 21.6% to $199.1 million.
The High Speed segment reported revenues of $249 million, a slight decrease of 0.4% from the previous year.
Despite this, the segment benefited from strong demand for turbocharged emergency power generation, especially for data centers.
Operational EBITA increased by 5.9% to $62.8 million, attributed to effective cost management and a favorable product mix.
Accelleron anticipates continued growth in the marine and energy industries, driven by the global push for decarbonization and the need for flexible, reliable energy solutions.
The company forecasts a 4-6% revenue growth in constant currency for 2025 and aims for an operational EBITA margin between 25-26%.
“We experienced extraordinary demand for marine products and services. In the energy industry, high demand for emergency power solutions for data centers compensated for a temporary slowdown in the gas compression market. Strong topline growth and operating leverage resulted in increased profitability,” said Accelleron CEO Daniel Bischofberger, chef executive at Accelleron in a statement.