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Dole(DOLE) - 2024 Q4 - Earnings Call Presentation
2025-02-26 15:27
Financial Performance - FY'24 revenue reached $8475 million, a 28% increase compared to $8245 million in FY'23, with a 67% increase on a Like-For-Like (LFL) basis[10] - Adjusted EBITDA for FY'24 was $3922 million, up 18% from $3851 million in FY'23, also showing a 67% increase on a LFL basis[10] - Adjusted Diluted EPS for FY'24 stood at $127, a 24% increase from $124 in the previous year[10] - Net debt decreased by $1811 million to $6371 million at the end of the year due to proceeds from the sale of Progressive Produce and strong free cash flow generation[11] - Net Leverage was reduced to 16x at year end[8, 10] Segment Performance - Fresh Fruit revenue increased by 94% to $819 million in Q4'24 from $749 million in Q4'23[27], with Adjusted EBITDA increasing by 108% to $319 million[29] - Diversified Fresh Produce – EMEA saw a 55% increase in revenue to $911 million in Q4'24, up from $863 million in Q4'23[33], with a slight decrease in Adjusted EBITDA of 05% to $325 million[34] - Diversified Fresh Produce – Americas & ROW experienced a 54% decrease in revenue to $463 million in Q4'24 compared to $490 million in Q4'23[38], but on a LFL basis, revenue increased 161%[38] Capital Allocation and Future Outlook - Capital expenditure for continuing operations in FY'24 was $824 million, with free cash flow from continuing operations at $1803 million[42] - The company anticipates Adjusted EBITDA for FY'25 to be approximately $370-$380 million, with maintenance capital expenditure around $100 million and interest expense around $70 million[47]