Strong Revenue and Growth Metrics
Total turnover growth at constant exchange rate was 8.9% for 2024, with organic growth of 6.3%. Excluding Argentina, organic growth was 7.7%.
EBITDA Margin Expansion
Core EBITDA increased faster than revenues, with the EBITDA margin expanding by 40 basis points from 9% in 2023 to 9.4% in 2024.
Significant Increase in Equity Free Cash Flow
Equity free cash flow reached CHF425 million, a 32% increase, with an equity free cash flow conversion of 33.5%.
Successful Debt Reduction and Shareholder Returns
Net debt to EBITDA dropped to 2.1, a 0.6 improvement from the prior year. A share buyback program was completed, canceling 4% of shares, and a new buyback program was announced for 2025. The dividend is proposed to increase by 43%.
Digital and Commercial Transformation Progress
The company is consistently delivering on commercial and digital transformation, with strong business development and good opportunities for 2025.
Operational Highlights by Region
EMEA showed 9.4% organic growth, North America had 5.6% growth despite challenges, Latin America grew 7% excluding Argentina, and Asia Pacific had more than 12% like-for-like growth.