博格华纳 2024年度报告

also delivered meaningful cash to our shareholdersthrough buybacks and dividend payments, including$400 million in share repurchases and $100 million individends. This was supported by our strong net cashprovided by operating activities of $1,382 million or$729 million of free cash flow for the year, despite asubstantial reduction in global industry volumes. Importantly, I believe BorgWarner has incredibleopportunities to build on this momentum in 2025 andbeyond as the company ushers in its next phase ofleadership. Following thoughtful succession planning,we announced the Board’s decision to appoint JoeFadool as BorgWarner’s CEO as of February 6, 2025.Joe has been a trusted member of our leadershipteam for 14 years and possesses a vast understandingof our industry, technology-focused solutions,operations, culture and key customer relationships.His track record of excellence and thoughtful teamleadership makes him the right person to driveBorgWarner forward. 2024 was another pivotal year for BorgWarner andone in which we saw continued progress towardour vision of a clean, energy-efficient world. Ourtechnology-focused portfolio remained strong in adynamic market allowing us to deliver another year ofstrong underlying results, demonstrated by our focuson expanding margins and free cash flow generationin 2024 versus the prior year. It was also my final yearas President and CEO. As I leave BorgWarner after 26years of service, I am confident about our future andour ability to create long-term shareholder value foryears to come. On a personal note, serving as BorgWarner’s CEOhas been an incredible honor. I’m proud of thecarefully curated and resilient portfolio we have builtthroughout the last several years. I’m confident thatour market-leading, technology-focused portfoliowill be successful for years to come as the worldaccelerates its transition toward electrification.Additionally, I know the company is in great handswith Joe leading the way and I’m confident he will bean exceptional CEO. Finally, I want to personally thankthe entire BorgWarner team around the globe fortheir support. I will continue to follow BorgWarner’sjourney with great admiration for years to come. BorgWarner achieved several milestones during thepast year, including establishing a new business unitstructure, which has enhanced the execution of ourstrategy through increased operational agility andcross-functional efficiency. In addition, our passionateand dedicated team spent meaningful time enhancingour market-leading products. This has further deepenedour customer relationships, enabling us to better meettheir rapidly changing needs. Our efforts are evidencedby multiple new product awards in 2024. Best regards, Our financial results further reflect the strength of ourbusiness. We reported $14.1 billion in sales in 2024and delivered year-over-year margin expansion. We Frédéric B. LissaldeRetired President and Chief Executive Officer We believe these actions will help us drive greaterfinancial performance, including expanding marginsand generating free cash flow that can be directlyconverted into shareholder value. Everything we do at BorgWarner is about deliveringvalue to our customers. An important part of this workis enabling our customers to meet their propulsionneeds. We do this with world-class, emissions-reducing hybrid and combustion products as wellas electrified products. As a leader in clean mobilitysolutions, we are keenly focused on acceleratingthe world’s transition to advanced mobility. That iswhat we do at BorgWarner, and what our teams arefocused on delivering every day. It is my great privilege to write to you today asBorgWarner’s President and CEO. On behalf of everyone at BorgWarner, I’d like to thankFred for his contributions over the last 26 years,including his seven years as President and CEO. Fred’spassion for our business and commitment to ourcustomers has positioned BorgWarner to help shapean energy-efficient world. Over the last 14 years, I have been dedicated toBorgWarner’s success, collaborating with our globalteams and customers to solve the world’s propulsionproblems in new and innovative ways. From serving asa President of four business units to my most recentrole as COO, I am deeply familiar with our globaloperations and am passionate about the developmentand commercialization of our market-leadingtechnologies. I’m extremely excited about our roadahead and thrilled to get started as CEO. The entire BorgWarner team remains relentless in ourpursuit of excellence, and I look forward to keepingyou updated on our progress. We believe our strong operating model andtechnology-focused portfolio have put us squarely onthe path to continue to outgrow industry productionin 2025, and for years to come. We will also focus onenhancing BorgWarner’s product leadership throughincreased scale, market share and innovation to winbusiness across all areas of propulsion. And we willremain diligent in efficiently mana