Cash Generation And Balance SheetStrong free cash flow enabled meaningful shareholder returns and substantial deleveraging after accounting adjustments, strengthening financial flexibility.
End-market DiversificationMomentum in automotive, packaging and industrial markets offset weakness in luxury and leather, demonstrating diversified demand drivers that can sustain revenue streams.
Profitability And MarginsExpanded margins driven by lower input costs and disciplined control of operating expenses improved profitability and supported earnings resilience.