Strong Sales Growth in 2024
Integer finished the year with strong sales growth in the fourth quarter, up 11% on both an organic and a reported basis. For the full year, sales grew double-digit at 10% and adjusted operating income grew 20% over 2023 levels.
Strategic Acquisitions
Integer acquired Precision Coatings for $152 million and signed a definitive agreement to acquire BSI Parylene for $28 million, furthering vertical integration and maintaining debt leverage within the strategic target range.
2025 Growth Outlook
For 2025, Integer expects reported sales to grow 8% to 10% and adjusted operating income growth of 11% to 16%. Organic sales are expected to grow 6% to 8%.
Emerging PMA Product Sales
Sales from emerging PMA products came in above the projected range at approximately $125 million in 2024, with an expected growth rate of 15% to 20% over the next three to five years.
Strong Cash Flow Generation
Integer generated $205 million in cash flow from activities in 2024, a 14% increase versus 2023, and free cash flow of $100 million, up 65% year-over-year.