Coats Group Reports Strong 2024 Results and Sets Ambitious Growth Targets

An announcement from Coats Group plc ( (GB:COA) ) is now available.

Coats Group plc reported strong financial results for 2024, with an 8% increase in revenue and a 16% rise in adjusted EBIT. The company achieved significant market share gains in apparel and footwear, and saw a 144% revenue growth in recycled thread products. Strategic initiatives, including the closure of the Toluca site and a UK pension de-risking, have positioned Coats for further growth. The company has set ambitious medium-term targets, including organic revenue growth of over 5% and EBIT margins of 19-21%, while maintaining a strong financial position to support capital allocation strategies.

More about Coats Group plc

Coats Group plc is a global leader in the manufacturing of industrial threads and footwear components, with a strong focus on innovative performance materials. The company serves various industries, including apparel, footwear, automotive, telecoms, and personal protection, providing sustainable and value-adding solutions. Headquartered in the UK, Coats operates in over 50 countries with a workforce of more than 16,000 employees.

YTD Price Performance: -8.16%

Average Trading Volume: 2,102,350

Technical Sentiment Consensus Rating: Sell

Current Market Cap: £1.37B

For detailed information about COA stock, go to TipRanks’ Stock Analysis page.