Concentrix Corp 2024年度报告

About Concentrix Globally recognized market leader drivingrevenue growth and free cash flow Diversified portfolio ofintegrated intelligentbusiness solutions Proven leadershipteam with a historyof innovation andvalue creation Partner of choice forthousands of clientsacross sectors “We will continue to challengethe status quo and seek newways to innovate and drive valuefor our 2,000 clients who rely onConcentrix every day to power aworld that works.” Chris CaldwellPresident and CEOConcentrix Corporation Concentrix Shareholders, Thank you for your trust in Concentrix. In 2024 we demonstrated the agility of our teams and thedurability of our business model as we grew our market share, invested in the future, reduced ourdebt, and returned more than $220 million to shareholders. Most importantly, we evolved our business to take advantage of what clients want – fewerproviders that can do more, invest more, and that have the global scale and technologycapabilities to meet their needs. In doing so, we believe we enter 2025 in a position of remarkable strength, with a proventechnology-led, global delivery model rooted in the fundamentals of our business strategy to: 1)Be the partner of choice for thousands of clients who seek innovation, growth, andoperational excellence;2)Expand our service offerings to increase value for our clients and grow our share of wallet;3)Extend our relationships with technology partners to build joint propositions; and4)Develop and deliver differentiated Gen AI solutions that improve our clients’ outcomes. While we are disappointed with our share price in 2024, our management team is confident thatas we execute our multi-year growth strategy and remain committed to our culture of excellence,over time our public valuation will align with the strength of our business and the value of ourmarket leadership. I am proud of our business achievements in 2024 and am excited by our growth opportunities aswe continue to execute our strategy for 2025 and beyond. TRANSFORMING OUR BUSINESS, DELIVERING RESULTS Looking back on 2024, we achieved a number of important milestones for the Company. The year was marked by a muted economic environment amidst a seismic shift in client needsand expectations for AI adoption. As we have done throughout our history, we seized thisopportunity to elevate our business by creating new growth opportunities for Concentrix whiledelivering essential innovation and value to our clients. Today we are confident that we have one of the larger deployments of AI technology at scale inthe world, with Generative AI (“GenAI”) deployed across approximately 1,000 clients, 200,000desktops in our own operations, and across tens of thousands of autonomous digital workersaround the globe. As we executed our AI strategy, we also delivered strong financial results. We generated revenueof $9.6 billion in 2024, marking constant currency pro forma revenue growth of 2.7%, at the topend of our initial guidance range and well ahead of many peers in the IT and business servicessector. Our non-GAAP operating income was $1.3 billion or 13.7% of revenue, and our adjustedEBITDA was $1.6 billion or 16.2% of revenue for the fiscal year. For the full year 2024, wegenerated $475 million in adjusted free cash flow.1 We continued to be disciplined capital allocators, using our strong free cash flow to repurchase$136 million or approximately 2.2 million shares of our common stock, representing more than 3% of our total shares outstanding. We also paid $84 million in dividends and reduced our debtby approximately $209 million during the year. EXTENDING OUR GLOBAL SCALE EXCELLENCE, INNOVATING FOR THE FUTURE Our financial achievements in 2024 were underpinned by our strong operational performance aswe continued our journey of global scale leadership and excellence. During the year we successfully integrated Webhelp across all areas of our business whileexceeding our stated synergy goals for the combination. Importantly, we aligned our culturearound one company one team, ensuring we deliver global scale consistency and local relevanceand expertise for every client in every location around the globe. The Webhelp integration is nowlargely complete with ongoing net synergy benefits expected through 2025 and beyond. We continue to make prudent investments in the business that we believe will allow us to drivegrowth and margin expansion in the future. In 2024 we formed our new software productsorganization with strong leadership, enhanced our AI tools and technologies, and expanded ourrelationships with our technology partners. Building on our decade-long leadership in AI, we haveexpanded our capabilities and driven new levels of innovation by leading our clients through theirAI journey, from designing and building their operations, to deploying automation to reduce low-complexity transactions, to enhancing their internal productivity. By doing so, we have proven ourability to reduce our client