Vestis (US:VSTS)2024-11-21 20:42Fiscal Year 2024 Results - Revenue for Fiscal Year 2024 reached $2.81 billion, a decrease of 0.7% year-over-year[6] - Adjusted EBITDA for Fiscal Year 2024 was $353 million, with a margin of 12.6%[7] - Free Cash Flow for Fiscal Year 2024 amounted to $165 million, representing a 47% Free Cash Flow conversion rate[7] - Customer retention improved by 150 basis points in Fiscal Year 2024 compared to Fiscal Year 2023[8] - Net Debt to Adjusted EBITDA ratio stood at 3.6x, reflecting strong cash generation and debt reduction efforts[8] Q4 2024 Results - Revenue for Q4 2024 was $684 million, a decrease of 4.4% year-over-year[5] - Adjusted EBITDA for Q4 2024 was $81 million, resulting in an 11.8% margin[6] - Free Cash Flow for Q4 2024 was $40 million, with a 49% Free Cash Flow conversion rate[7] Fiscal Year 2025 Outlook - The company anticipates revenue between $2.8 billion and $2.83 billion, representing a growth of -0.2% to +0.9%[45] - Adjusted EBITDA is projected to be between $345 million and $360 million, with a margin of 12.3% to 12.7%[45] - The company targets a Free Cash Flow conversion rate of approximately 50% of Adjusted EBITDA[46]