Nexteer Automotive Group ( (NTXVF) ) has released its Q4 earnings. Here is a breakdown of the information Nexteer Automotive Group presented to its investors.
Nexteer Automotive Group Limited, a company incorporated in the Cayman Islands, specializes in the design and manufacture of steering and driveline systems, as well as Advanced Driver Assistance Systems (ADAS) and Automated Driving (AD) components for the automotive industry, with a global operational presence.
Nexteer Automotive Group has reported its annual financial results for the year ending December 31, 2024, showing a modest increase in revenue and significant improvements in profitability. The company’s revenue reached US$4.3 billion, marking a 1.6% increase from the previous year, while operating profit and net profit saw substantial growth.
Key financial highlights include a gross profit of US$448.5 million, representing a 21.7% increase year-over-year, and an operating profit of US$114.8 million, nearly doubling from the previous year. The company’s net profit attributable to equity holders rose by 68.1% to US$61.7 million. Despite challenges such as unfavorable foreign currency translation and customer pricing pressures, Nexteer achieved a 2.5% revenue growth when adjusted for these factors.
Looking ahead, Nexteer Automotive Group remains focused on leveraging its global footprint and technological advancements to navigate the dynamic automotive market. The management anticipates continued growth driven by new customer program launches and strategic initiatives, despite potential macroeconomic challenges.