Introduction of New Products
Janus International introduced several new product lines in 2024, including the Nokē ION and NS Door series, which have been well-received by customers.
Successful Acquisition
Acquired assets of TMC, a provider of terminal maintenance services, which has contributed favorably to results.
Credit Rating Upgrades and Debt Management
Received upgrades from S&P and Moody's and successfully repriced the term loan, resulting in improved financial leverage.
Strong Free Cash Flow
Generated free cash flow of $133.9 million for the full year, representing a conversion rate of 163% of adjusted net income.
Increase in Installed Units
Nokē installed units increased by 32% to 365,000 units in 2024.
Cost Reduction Plan
A structural cost reduction plan is on track, with expected annual pretax savings of $10 to $12 million.