卡莱尔伙伴 2024年度报告

adjustedEBITDA*$1.3B adjustedEBITDA margin*26.6% adjusted earningsper share*$20.20 return oninvested capital*28.5% free cashflow margin*18.8% *Refer to page 36 for a reconciliation of non-GAAP financial measures to relatedGAAP financial measures The Bunker Tower in Eindhoven, the Netherlands was built with Carlisle Hertalan®EPDM waterproofing membrane On cover (clockwise from top left): Henry Blueskin®VP160 installed on a multifamilystructure in Malvern, PA; Insulfoam R-Tech®FF roof recover on a warehouse inPhoenix, AZ; Drexlume wall panels on the Switch Building in Manhattan, NY; an 80-mil mechanically fastened TPO roof at Tecumseh Vista Academy in Ontario, Canada ReportContents This is Carlisle CompaniesIncorporated’s annual report,covering all our operations forthe period of January 1, 2024,through December 31, 2024. Our Company 4681012To Our ShareholdersAbout CarlisleOur Pure Play TransformationCarlisle Construction MaterialsCarlisle Weatherproofing Technologies Our Vision & Strategy 14161820222426Building on Vision 2030The Carlisle Operating SystemThe Carlisle ExperienceResearch & InnovationStrategic AcquisitionsSuperior Capital AllocationExceptional Talent Our Culture & Commitments 283032343536Shareholder Value through SustainabilityBuilding Envelope Case StudiesCarlisle in the CommunityBoard of DirectorsCompany OfficersInvestor Resources The Brooklyn Children’s Museum in Brooklyn, NYfeatures Henry Pumadeq waterproofing, a UV-resistantwaterproofing system that sets in 30 minutes and canwithstand traffic one hour after installation To OurShareholders through the acquisition of businesses thatprovided deeper inroads into attractive marketsand embarked on our strategic pivot from adiversified industrial portfolio of businesses to apremier pure play building products company. The Foundation:Vision 2025 In 2018 we launched Vision 2025, a strategicplan that set a new tone for Carlisle as welooked ahead to our next one hundred years.Vision 2025 was built on detailed, tangible, andexecutable plans that aligned employees andengaged shareholders through clear actions,including: Drive superior organic growth andcomplement with acquisitionsLeverage growth and COS intoexcellent operating performanceDeploy record amounts of capitalthrough M&A, capital expenditures,dividends, and share repurchases Almost a decade ago we transitioned to thenext phase of our value creation journey,focusing ondriving to "maximum potential"at our highest performing businessesand in turn unlocking additional value forour shareholders. We aimed to unlock thisadditional value while adhering to Carlisle’slongstanding philosophies of continuousimprovement, innovation, decentralization,and an entrepreneurial culture. We haveprovided a clear vision and a dedicated teamof employees engaged in delivering the vision. With a sharper focus, results came quickly.Under Vision 2025 we nearly doubled revenuein our building products segments, more thandoubled adjusted EBITDA in those segments,and increased free cash flow by over 200%.Furthermore, we exceeded our earnings targetof over $15 per share three years ahead ofour Vision 2025 target by delivering $17.58 ofGAAP diluted EPS from continuing operationsin 2022. Throughout our journey we made boldstrategic moves, generated record sales,drove organic growth, deployed capital instrategic acquisitions, and returned cash toour shareholders. We optimized our portfolio 2024 provided a strongstart to our Vision 2030objectives, with Carlisleachieving record adjustedEPS of $20.20 for anincrease of 30% YoY,revenue growth of 9%,and record adjustedEBITDA margin of 26.6%,up 150 basis points YoY. The Next Chapter:Vision 2030 We built on our successful early achievementof Vision 2025 with the release of ourVision 2030 strategy, the next chapter inour journey to deliver extraordinary returnsto our shareholders. Vision 2030 focuseson delivering innovative building envelopesolutions and driving above-market growth tounlock additional shareholder value through afocused set of six key pillars: 2024 provided a strong start to our Vision2030 objectives, with Carlisle achievingrecord adjusted EPS of $20.20 for anincrease of 30% year over year, revenuegrowth of 9%, and record adjusted EBITDAmargin of 26.6%, up 150 basis points yearover year. These pillars will help us deliver superior returnsto our shareholders: As we look ahead to the next phase ofour value creation journey, we’re focusedon Vision 2030 and what it means for ourfuture. Our investments in innovation andthe development of our M&A playbook arealready paying dividends for Carlisle andour shareholders. We are very thankful forthe diligent Carlisle team members whosuccessfully delivered Vision 2025, hitthe ground running with Vision 2030, andcompleted our pivot to a pure play buildingproducts company. We are more invigoratedthan ever to lead Carlisle into the future, andare fully confident that Carlisle is exceptionallywell positioned