The Shyft Group Inc 2024年度报告

High-Performing Teams We foster a culture of excellence,innovation, and inclusion, empowering everyteam member to contribute meaningfully. Operational Excellence Our dedication to understanding and exceedingcustomer expectations fuels our innovation and growth. Customer-Centric Approach :HFRQWLQXRXVO\UHÀQHDQGRSWLPL]HRXUSURFHVVHVZLWKDVWURQJIRFXVRQHIÀFLHQF\DQGVXVWDLQDELOLW\ Financial Growth We are committed to sustained, strategicÀQDQFLDOJURZWKOHYHUDJLQJRXUWHDP·Vexpertise and operational strength. “The strength of our team and our shared commitment toexcellence position us for the opportunities ahead. As we moveforward together, we will build on our momentum and continuedelivering lasting value for our customers and stakeholders.” Dear Shareholders, As I reflect on 2024, I am proud of the progress we have made and the foundation we have strengthened.Throughout the year, we remained focused on execution and efficiency, advancing our strategy and deepeningcustomer relationships to position The Shyft Group for long-term success. 2XU2QH6K\IWPLQGVHWJXLGHGRXUSULRULWLHVHPSKDVL]LQJVDIHW\OHDGHUVKLSGHYHORSPHQWDQGFRQWLQXRXVimprovement. Through Mission Zero, we reduced workplace injuries by 40%, advancing our commitment toD]HURLQMXU\ZRUNSODFH7RIXUWKHUDOLJQRXUWHDPVZHKRVWHGWKHILUVWHYHU6K\IW/HDGHUVKLS6XPPLWEULQJLQJWRJHWKHUOHDGHUVIURPDFURVVWKHRUJDQL]DWLRQWRHQKDQFHFROODERUDWLRQDQGGULYHJURZWK&RQWLQXLQJWRLQYHVWin our people, we launched the Women Inspiring Success & Empowerment (WISE) Employee Resource GroupDQGWKH)URQWOLQH/HDGHU7UDLQLQJ3URJUDPIRVWHULQJDQLQFOXVLYHDQGKLJKSHUIRUPLQJFXOWXUH With a strong team in place, we focused on operational excellence to increase efficiency and deliver greater valueto customers. We streamlined processes, reduced costs, and improved product quality, while also introducing newRIIHULQJV$WRXU&KDUORWWH0LFKLJDQIDFLOLW\ZHODXQFKHGSURGXFWLRQRIWKH,VX]X155(9GHPRQVWUDWLQJRXUcommitment to efficient operations. Additionally, our One Shyft procurement strategy delivered material savingsand reinforced supplier relationships, improving operational agility. &XVWRPHUFHQWULFLQQRYDWLRQUHPDLQVLQWHJUDOWRRXUVXFFHVVDQGKDVGULYHQNH\PLOHVWRQHV:HHDUQHG)RUG3UR8SILWWHUGHVLJQDWLRQDQGLQWURGXFHGWKH'ULYHU&RROLQJ6\VWHPIRUZDONLQYDQVKLJKOLJKWLQJRXUDELOLW\WRDQWLFLSDWHDQGPHHWHYROYLQJFXVWRPHUQHHGV)XUWKHUPRUHWKH%OXH$UFSURJUDPPRYHGLQWRSURGXFWLRQVHFXUHGDQRUGHUIURP)HG([DQGH[SDQGHGLWVGHDOHUQHWZRUN To support this growth, we continued to strengthen our financial foundation. Our disciplined approach led toSURILWDELOLW\LPSURYHPHQWVLQ)OHHW9HKLFOHV6HUYLFHVZKLOH6SHFLDOW\9HKLFOHVPDLQWDLQHGVWHDG\SHUIRUPDQFHensuring we could meet diverse customer needs with quality and reliability. We also expanded our upfittingcapabilities through the acquisition of Independent Truck Upfitters, further broadening our ability to deliver work-ready vehicle solutions. With this foundation in place, we took the next step in our strategic evolution. In December, we announced ourmerger with Aebi Schmidt to accelerate our strategy and establish Shyft as a global leader in specialty vehicles. Webelieve the merger, expected to close in mid-2025, will bring together the expertise of both companies toFUHDWHDVWURQJHUSODWIRUPIRUORQJWHUPVXFFHVVGULYHJURZWKDQGPD[LPL]HYDOXHIRURXUVKDUHKROGHUV /RRNLQJ DKHDG , DP FRQILGHQW LQ RXU WHDP·V FDSDELOLWLHV RXU EXVLQHVV·V UHVLOLHQFH DQG WKH RSSRUWXQLWLHV DKHDGWith a solid foundation, we will continue moving forward together—driving innovation, operational excellence, andlasting value. Thank you for your trust, partnership, and support. Warm regards, John Dunn President and CEO, The Shyft Group High-Performing Teams Operational Excellence Mission Zero Launch Isuzu NRR-EV Production Launch Achieved a 40% reduction in workplace injuries, markingVLJQLÀFDQWSURJUHVVLQRXUFRPPLWPHQWWRD]HURLQMXU\workplace and a stronger safety culture. %HJDQSURGXFWLRQRIWKH,VX]X155(9DWRXU&KDUORWWH0LFKLJDQIDFLOLW\GHPRQVWUDWLQJRXUFRPPLWPHQWWRHIÀFLHQWRSHUDWLRQV Leadership Summit Sustainability Leadership 3XEOLVKHGWKH6XVWDLQDELOLW\5HSRUWKLJKOLJKWLQJyear-over-year emissions reductions and resultsIURPRXUÀUVWFOLPDWHULVNDVVHVVPHQWUHLQIRUFLQJour commitment to sustainable operations. +RVWHGWKHÀUVWHYHU6K\IW/HDGHUVKLS6XPPLWXQLWLQJleaders to strengthen collaboration, align on strategy,and drive future growth. Workforce Development and Inclusion One Shyft Procurement Introduced the Women Inspiring Success & Empowerment:,6( (PSOR\HH5HVRXUFH*URXSDQGWKH)URQWOLQH/HDGHU7UDLQLQJ3URJUDPUHLQIRUFLQJRXUFRPPLWPHQWWROHDGHUVKLSdevelopment and inclusivity. Streamlined supplier management with aOne Shyft mindset, driving material savingsDQGRSHUDWLRQDOHIÀFLHQFLHV Cu