NN, Inc. Announces Second Consecutive Year of Record-Setting New Business Wins

Core Insights - NN, Inc. achieved new business wins of $73 million in 2024, bringing the two-year total to $136 million [1][5] - The company aims to grow sales to $600 million and achieve 13% adjusted EBITDA rates over the next five years [3][7] Business Performance - New business wins in 2024 exceeded the high end of the company's guidance range, with 2023 wins at $63 million and 2022 at $38.5 million [5] - The company has a new business pipeline of over $720 million, which has grown more than 40% compared to the previous year [4][5] Strategic Focus - Key focus areas for new business in 2024 included vehicle control, energy efficiency, electrical grid devices, and medical components [5] - The company plans to launch 80 new programs in 2025, with 70 already won, and has over 50 new business programs underway for Q1 2025 [6][5] Market Positioning - NN, Inc. is positioning itself as an elite supplier in targeted high-value markets, leveraging its unique capabilities and technical advantages [4][3] - The company has been recognized with the Cummins Innovation Award for its work on new products [5]