Strong SAS Segment Performance
The SAS segment showed a nearly 13% year-over-year organic sales growth in Q4 and a full-year adjusted EBITDA increase of almost 19% in 2024, with margin up 210 basis points.
Cost Reduction and Organizational Restructuring
Over $20 million in overhead costs were removed in 2024, with plans for an additional $20 million reduction by the end of 2026. Operations were streamlined, and debt reduced by over 35%.
Improved Healthcare Business Performance
The healthcare segment experienced over 10% growth in 2024, with margins becoming accretive due to a successful turnaround strategy.
Increased Sales Pipeline for 2025
The SAS sales pipeline for 2025 is more than 50% greater than the previous year, indicating strong future growth potential.
Strategic Investments in New Markets
New smart glass film partnerships were announced, expected to support growth in optical films by 2026, and investments in digital print, e-commerce, and specialty tapes were highlighted.