Strong Sales Growth
Sales growth was approximately 12% in Q4 and 7% for the full year 2024. Core sales growth was nearly 3% in Q4 driven by international currency.
Robust Free Cash Flow
Adjusted free cash flow conversion was 109% in Q4 and 76% for the full year, indicating strong cash generation capabilities.
Successful Strategic Initiatives
Completion of acquisitions such as OpSec and TruTag Smart Packaging, with further acquisition of De La Rue Authentication Solutions expected to close in Q2 2025.
Recurring Revenue Increase
Increase in recurring revenue through contracts like the micro-optics agreement with a luxury perfume company, showcasing successful integration of OpSec.
Record Backlogs
CPI ended the year with a backlog of $146 million, while security and authentication technologies finished with a segment backlog of $248 million.