06Mar 2024

Linamar Delivers a Stellar 2023 with Record Sales, over 40% Earnings Growth, Increases Dividend

March 6, 2024, Guelph, Ontario, Canada (TSX: LNR)

Strong financial performance

  • Sales up 19.1% to $2.45 billion in Q4 2023, and up 23% for the year;
  • Normalized Operating Earnings1 up 36.2% in Q4 2023, and up 41.4% for the year; and
  • Normalized Diluted Earnings per Share1 up 23% in Q4 2023, and up 40.3% for the year.

Mobility Segment Performing

  • Mobility segment finished the year on a very strong note with earnings and margins well up over Q3 2023; and
  • Mobility segment earnings also up over Q4 2022 and margins up on a constant currency basis.
    Diversified Strategy Success
  • Diversified strategy validated with Industrial earnings up 145% over 2022, anchoring solid overall performance; and
  • Acquisition of our chassis and suspension business closed and will drive strong propulsion-agnostic growth.

Returning Cash to Shareholders

  • Linamar is once again increasing its dividend to shareholders to a record quarterly $0.25 per share.

Double-Digit Sales Growth in Both Segments

  • Sales up 19.8% for Industrial for the quarter and 38.3% for the year, due to solid market share growth in both the agricultural and access equipment product families;
  • Sales up 18.9% for Mobility in the quarter and 18% for the year, driven by both our Linamar Structures acquisitions as well as launching programs and increased volumes; and
  • North American and European content per vehicle hit a new annual record reflective of continued market share growth.