Record Revenue and Year-over-Year Growth
Total revenue reached $4.6 billion in FY2025, up 7.2% YoY, marking record revenue for the third consecutive year and outperforming market growth by ~320 basis points on an adjusted basis (6.9% adjusted growth).
Strong EBITDA and Margin Expansion
EBITDA increased 11.2% YoY to $472 million with EBITDA margin expanding 40 basis points to 10.3%, driven by favorable volume, improved operating performance and mix.
Robust New Business Bookings and Program Launches
$4.9 billion of customer program bookings in 2025, including 2 Steer-by-Wire wins; launched 57 customer programs (42 new/conquest wins) with 36 programs for EV platforms, demonstrating strong conversion of bookings into revenue.
Asia Pacific Outperformance
APAC revenue ~ $1.5 billion, a record for the region, up 9.8% YoY (10.2% excluding FX/commodity), representing sustained organic growth and expansion from ~$1.0B to $1.5B in under 3 years.
Product and Technology Leadership — Motion-by-Wire & EMB
Progress on Motion-by-Wire portfolio with 2 Steer-by-Wire production awards and EMB (electromechanical braking) public debut; EMB completed winter testing with 17 OEMs reporting positive feedback and a first EMB booking expected during the year.
Customer Diversification and Market Footprint
Serving more than 60 OEMs globally with wins across Chinese domestic OEMs, Indian market leaders and premium EV manufacturers; over 75% of bookings in EPS product line and ~45% of bookings in APAC indicating diversified, high-demand portfolio.
Improved Profitability and Net Profit Recovery
Net profit attributable to equity holders increased to $102 million (2.2% of revenue) from $62 million in 2024; adjusted for impairment-related one-offs, net income would be $126 million (2.7%).
Strong Balance Sheet and Increased Shareholder Returns
Ended FY2025 with $501 million cash, only $50 million gross debt (net cash $414 million), total liquidity $833 million, generated positive free cash flow of $124 million; Board approved a $46 million dividend (45% payout ratio, more than double prior year).
Supply and Manufacturing Expansion in APAC
Opened Changshu manufacturing & testing facility and Suzhou technical center (China), expanded India technical center, began production in Rayong (Thailand), and broke ground on new smart manufacturing in Liuzhou and Suzhou to support localized growth.