Regal Rexnord Corp 2024年度报告

AMESSAGEFROMOURCEO Dear Shareholders, Our high efficiency electric motors provide thepower tocreatemotion.Our portfolio of highlyengineered power transmission componentsand solutions efficientlytransmitmotionfromits source to an application.And our automationportfolio — controls, actuators, drives, software,and small, power-dense servo motors —controlmotionin applications ranging from factoryautomation to precision tools used in surgicalapplications. In2024, we continued to make significant progresstransformingRegalRexnord into an enterprisepositioned for faster and more profitable growth.Early in the year, we took the final step intransforming our portfolio with the divestiture ofour Industrial Systems business, enabling us tomove forward in a more strategically advantagedposition. Our go-forward portfolio is roughly 50%-weightedto markets with secular growth drivers, includingfactory automation, food & beverage, aerospace,medical, and data center. Financially, we achievedadjusted gross andEBITDAmargins of 37.8%* and22.1%*, respectively, in2024, which are top quartilein our sector, and believe we have a clear path tofurther gains. Strong annual adjusted free cashflow, long a hallmark ofRegal, is set to improvefurther, likely achieving a $1 billion annual run ratein the next two years.Our offering is characterizedby technology differentiated products andsolutions, strong brands and channel positions,and robust aftermarket sales.Operationally, wehave an advantaged global footprint.Our teamalso continues to advance a host of organic growthinitiatives, underpinned by further investments inresearch, development and engineering, and incustomer and non-customer facing technologies,includingAI. Perhaps the most valuable characteristic ofour transformed portfolio is its unrivaled scaleand scope, both in terms of our go-to-marketcapabilities, as well as the breadth of our productoffering. We are positioned to create uniquecustomer value propositions by leveraging ourcross-portfolio capabilities.This ranges frominnovative solutions that comprise products fromall three of our segments, to solutions that offerconvenience for customers to source most of theirpower transmission needs from us as a singleprovider.Our2,000global sales professionals allowus to effectively market our offerings in ways ourbusiness historically could not. In particular, oursignificant technology investments are making iteasier for customers to interact withRegal alongevery stage of the buying journey, from productresearch to product configuration, ordering,fulfillment, and aftermarket service and support. AtRegalRexnord,ourpurposeistohelpcreateabettertomorrowwithsustainablesolutionsthatpower,transmitandcontrolmotion. Our disciplined operating model, theRegalRexnord Business System (“RBS”), remainsfoundational to our success. We always prioritizesafety, while relentlessly pursuing quality, and delivering value to our customers. We are guidedby 80/20principles, focusing the majority of ourresources on our most highly valued customersand products. We operate with a continuousimprovement mindset, and leverageRBS acrossthe enterprise to remove waste and variationfrom all processes, while leveraging disciplinedproblem solving to quickly focus on root causeand implement sustainable solutions.This helps usachieve leading service levels for our customers,which is fundamental to our value proposition andan enabler of our growth strategy. We do all ofthis in accordance with ourRegalRexnord Values,which include executing our strategy with a senseof urgency. Selling solutions is also one way thatRegalRexnord is leading in the realm of sustainability,in particular around energy efficiency.Ourcontributions here are broad, with approximately60% of our sales coming from products thatdirectly or indirectly help end users become moreenvironmentally friendly. We also continue to makeour own operations more environmentally friendly,by investing in our building and process equipmentefficiency, including installing solar power andwater reclamation equipment at our factories.Ourefforts on these fronts were recognized in2024withRegalRexnord ranking 14th on Barron’s list ofthe 100Most SustainableU.S.Companies. I am proud of ourRegalRexnord team, and of allwe have accomplished in2024. But I remain evenmore excited about the many opportunities forvalue creation that lie ahead of us. What drives myconfidence is the talent and engagement of ourone global team.Our 30,000associates around theworld are engaged, disciplined, and most of all,motivated by a passion to win with our customers.This team is creating tremendous value for ourkey stakeholders — our customers, our associates,and our shareholders. We do so by leveraging thepower of our portfolio to provide differentiatedvalue for our customers and, in doing so,accelerate profitable growth. It is a key reason thatI am proud to beCEOofRegalRexnord today. In the past year, we continued to make progresson our strat