Company Overview - Avery Dennison's 2024 net sales reached $8.8 billion[8] - The Materials Group accounted for 69% of sales, while the Solutions Group represented 31%[8] - High-value categories constitute approximately 44% of sales, showing a 10 percentage point increase compared to 2019[11] - The U S market accounts for approximately 40% of sales[11] Growth Strategy - The company is targeting over 5% sales growth, excluding currency impacts[27] - This growth is expected to be driven by approximately 1 percentage point from base business growth, 2 percentage points from high-value categories, and 1.5+ percentage points from Intelligent Labels[26] - Intelligent Labels are projected to grow at a rate of 15%+[26] Financial Performance and Capital Allocation - From 2014 to 2024, the adjusted EBITDA margin increased from 11 3% to 16 4%[23] - The company plans to allocate capital with 25-30% for capex/restructuring, ~20% for dividends, and 50-55% for buybacks/M&A[30] - Approximately $8 billion of capital is available for deployment between 2024 and 2028[31]