Significant Revenue Growth
Consolidated revenue grew by 27% to $127.2 million in Q4 2024, demonstrating strong performance despite geopolitical and macroeconomic headwinds.
Improved Profitability
Gross profit increased by 31% to $31.1 million, and adjusted EBITDA rose to $17.3 million from a loss of $1.1 million, driven by strong performance from core holdings and reduced SG&A expenses.
Cost Reduction Achievements
Board changes resulted in approximately $1.3 million in annual savings, with $350,000 in cash savings at the Holdco level.
Positive Performance at Bozzetto and Cortland
Bozzetto generated $85.8 million in revenue, up 22% year-over-year. Cortland's revenue grew by 39% to $41.4 million, with adjusted EBITDA increasing by 168%.
Successful Strategic Initiatives
Completion of strategic initiatives like the substantial issuer bid (SIB) led to a $5 million annual cash savings and a $4 million gain on the transaction.