Commercial Vehicle(US:CVGI)2022-03-01 15:54Financial Highlights - Q4 2021 net sales reached $228.9 million, a 6% year-over-year increase[4] - Full year 2021 sales were $972 million[5] - Q4 2021 adjusted EBITDA was $12.9 million, a 1% year-over-year decrease[4] - The company targets to pay down $25-40 million of debt in 2022[21, 37] Segment Performance - Vehicle Solutions achieved full year 2021 net sales of $499 million and adjusted operating income of $24.1 million[14] - Warehouse Automation full year 2021 net sales reached $187.9 million with adjusted operating income of $24.5 million[14, 31] - Electrical Systems full year 2021 net sales were $169 million and adjusted operating income was $15.6 million[14, 33] - Aftermarket & Accessories full year 2021 net sales were $115.8 million and adjusted operating income was $12.1 million[14, 35] Strategic Initiatives and Market Outlook - The company estimates the 2022 North American Class 8 truck build rate to be approximately 270,000 units[13] - Electric vehicles represent a $7 trillion market opportunity between today and 2030 and $46 trillion between today and 2050[16] - The company anticipates a line of sight to approximately 10% compound annual growth rate (CAGR) in the Aftermarket business over the next five years[18] - The company aims to achieve $1.4 billion in revenue by 2025, with an adjusted operating income margin of 8.5%[22, 23]