Strong Cash Flow and Leverage Reduction
Generated $281.5 million of net cash from operating activities in Q4 2024 with free cash flow of $261 million, contributing to full-year 2024 free cash flow of $388 million. Achieved a year-end 2024 net leverage ratio of 2.8, making progress towards the target of 2 to 2.5.
Significant Order Growth
Q4 2024 orders were $1.55 billion, a 29.4% increase from the previous year, contributing to full-year orders of $5 billion, a 13% increase compared to 2023.
Record Adjusted EBITDA and Operating Margin
Achieved Q4 2024 adjusted EBITDA of $283.6 million, contributing to a full-year adjusted EBITDA of $1.014 billion, with an EBITDA margin of 24.4%, a year-over-year increase of 330 basis points. Adjusted operating margin for full year 2024 was 21.1%, up 400 basis points.
Robust End Market Diversification
In 2024, Chart sold to 267 new customers and had record hydrogen sales in Europe. The commercial pipeline of opportunities not yet in backlog is approximately $24 billion, with $2 billion in customer commitments.
Strong Space Exploration Orders
Q4 2024 saw $28.4 million in space exploration orders, the highest quarterly total for the year. Orders for Q1 2025 have already reached approximately $60 million.