Nexteer Automotive reports increased revenue, profit for 2024

Nexteer Automotive Group (HKEX:1316) reported a 1.6% increase in revenue to US$4.276 billion for the year ended December 31, 2024, compared to US$4.207 billion in 2023. Net profit attributable to equity holders rose significantly by 68.1% to US$61.7 million, up from US$36.7 million the previous year. Adjusted EBITDA also saw a substantial increase of 22.5% to US$424.4 million. The company's growth was largely driven by its Asia Pacific segment. Basic earnings per share increased to US$0.025 from US$0.015. The company plans to pay a final dividend of approximately US$21.8 million, or US$0.0087 per share and is strategically positioned for continued growth with US$6 billion in customer programme bookings for 2024, despite global economic headwinds and OEM production decreases.