Dana Incorporated reported a total revenue of $10.284 billion for the fiscal year ending December 31, 2024, a decrease of 2.6% from $10.555 billion in 2023. The company's net loss attributable to shareholders was $57 million, compared to a profit of $38 million in the previous year. This decline in profitability was attributed to several factors, including increased restructuring charges, which rose to $76 million from $25 million in 2023, and a significant loss on a disposal group previously held for sale amounting to $26 million.
The company's performance varied across its four operating segments. The Light Vehicle segment saw a revenue increase to $4.224 billion, up from $4.035 billion in 2023, driven by a full year of production on a light-truck customer program. In contrast, the Commercial Vehicle segment's revenue decreased to $2.005 billion from $2.092 billion, reflecting mixed market conditions. The Off-Highway segment also experienced a decline, with sales falling to $2.767 billion from $3.185 billion, primarily due to softening global markets. The Power Technologies segment reported a slight increase in revenue to $1.288 billion from $1.243 billion.
Dana's operational metrics indicated a diverse customer base, with Ford Motor Company and Stellantis N.V. being the largest customers, accounting for 23% and 8% of total sales, respectively. The company employed approximately 39,600 people across 30 countries as of December 31, 2024. Sales from non-U.S. subsidiaries represented 55% of total sales, highlighting Dana's significant international presence. The company also reported a backlog of net new business amounting to $650 million, with expectations to realize $150 million of this backlog in 2025.
Looking ahead, Dana anticipates a challenging market environment, projecting sales for 2025 to be between $9.525 billion and $10.025 billion. This outlook reflects expected declines in global market demand and currency headwinds, partially offset by new business backlog. The company aims to improve its adjusted EBITDA margin to approximately 10% in 2025, driven by cost-saving initiatives and operational efficiencies. Additionally, Dana is pursuing the divestiture of its Off-Highway business, which may further impact its financial structure and strategic focus in the coming years.
About DANA INC
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