PHINIA Inc 2025年度报告

PHINIA "Againstadynamicglobalbackdrop,ourteamsremainedfocused on the actions within our controlincludingoperationalexcellence,customerresponsiveness,anddisciplined investment-to deliver results that reflectthe underlying strength of our business. BradyD.Ericson,Presidentand ChiefExecutiveOfficer DearShareholders, Operatingmomentum.Across ourcorebusinesses,wecontinuedto winthrough execution.InFuel Systems,wesecured newbusinessacrosslightvehicle,commercial vehicle,off-highway,industrial,andalternativefuelapplications,including several importantconquestwins.Ourbusiness wins support akeythemewe continueto seein the market—that advancements in efficiency,performance, andintegration with hybrid technologies and altermative fuels will keepcombustion asa coretechnologyintransportation and industrialmarketsforthelongerterm,and thatit will playa key role inthetransition to lower carbonmobility.Our Aftermarket businessremained a stableandvaluable contributor, supported by an agingglobalvehiclefleetandlongermaintenance cycles.In2025,weadded approximately 5,800 new SKUs, continued to expand productcoverage, strengthened our global distribution footprint, landed newwinswithstarterandalternatorcustomers,andincreasedourshareof walletwithothernewandexisting customers.Withstrongbrands,reliabledelivery,and attractivemargins,theAftemarketbusinescontinues to provide reliable and predictable cash flow. 2025 was a year of strong execution and meaningful progress acrossPHINIA's strategic priorities.We delivered solid financial performancewhilecontinuingtostrengthenourportfolioandpositiontheCompanyforsustainable,long-termgrowth.Againstadynamicglobalbackdrop,ourteams remained focusedon the actions within ourcontrolincluding operational excellence, customer responsiveness,anddisciplined investmentto deliver results that reflect the underlyingstrengthof ourbusiness. Financial performance.We deliveredfull-yearnet sales of s3.48billion and generated $478 million of adjusted EBITDA.Adjusted freecash flow totaled $212 million, and we ended the year with a healthybalance sheet and net leverage of approximately1.3x.Importantly,2025representedourfirstfull yearwithoutanyimpactsfromtransitionserviceand contractmanufacturing arrangements sincebecominganindependentcompany.Ourdiversifiedexposureacrossindustries,customers,geographies,andproducts continuestoprovide resilience and consistency as conditions evolve Capital allocation.Creating shareholder value through disciplinedcapital allocation remainscentraltoourstrategy.In2025,webeganthe year with our Board of Directors authorizing an increase toourshare repurchase authorization and quarterly dividend.We investedin the business throughout 2025 and completed our first strategicacquisition,while also returning $242 million to shareholders through$200millionofsharerepurchasesand$42millionindividends.InJanuary2026,forthesecondconsecutiveyear,theBoardapproveddividend, reaffirming its confidence in PHINIA's financial strengthcash generation capabilities,and long-term outlook.Weremaincommitted to deploying capital in a balanced and disciplinedmanner-investing to support growth whiledelivering meaningfuland sustainable returns toourshareholders. Outlook.Weexecuted2025inaglobalenvironmentshapedbytariffs,macroeconomicvolatility,andgeopoliticaluncertainty.Through disciplined execution and a clear focus on pricing.productivity,andoperationalexcellence,wemaintainedmarginsconsistent with the prior year, excluding tariff-related dilution. InFebruary2026,we hosted our InvestorDay at the New York StockExchange, where wereflected on our strong pastperformanceandhighlighted ourunwavering commitmenttoprecision,performanceandpractical solutions.As welook further into2026,weare well-positionedtobuildonthis momentum.With astrongbalancesheet,healthy cashgeneration, and a clear strategic vision,we remaincommittedto deliveringpractical innovation forour customers,disciplined growth across diversified end markets,and long-termvalueforourshareholders. Strategic progress. During the year, we took important steps tobroaden and diversify ourproducts andbusiness and expand ourpresence in new and attractive,higher-value markets.In August2025,wecompletedtheacquisitionofSwedishElectromagnetInvest AB (SEM), adding advanced ignition technologies for naturalgas,hydrogen,andotheralternativefuels toourportfolio.It alsounlock new opportunities across commercial vehicle and industrialapplications, including in the power generation market. Another key2025highlight was advancing ourgrowth inaerospaceanddefenseWeobtainedEN9100certification-thepremieraerospacequalitymanagement standard-and madeourdebut attheParis AirShowsignaling PHINIA's strategic entry into the industry. We have beenawarded three programs with akey aerospace customer,one ofwhichhas launched.We expectto continuemaking investmentsin this highly demanding and attractive industry. Oursuccessismadepossiblebythededicationandexpertiseofouremployees around the world.Iam