Below are the financial statements of Gates Industrial, including the income statement and balance sheet for the company's latest fiscal year. All figures are accurate, verifiable, and fully traceable to the original annual filing where disclosed.
| All figures in millions of USD | 2024 | 2023 | 2022 |
|---|---|---|---|
| Net sales | 3,408.2a | 3,570.2a | 3,554.2a |
| Cost of sales | -2,049.7a | -2,211.3a | -2,303.6a |
| Gross profit | 1,358.5a | 1,358.9a | 1,250.6a |
| Selling, general and administrative expenses | -870a | -882.2a | -853.7a |
| Transaction-related expenses | -3.3a | -2.2a | -2.1a |
| Asset impairments | 0a | -0.1a | -1.1a |
| Restructuring expenses | -6.5a | -11.6a | -9.5a |
| Other operating expenses | 0a | -0.2a | -0.2a |
| Operating income from continuing operations | 478.7a | 462.6a | 384a |
| Interest expense | -155.8a | -163.2a | -139.4a |
| Loss on deconsolidation of Russian subsidiary | -12.7a | 0a | 0a |
| Other (income) expenses | -17.8a | 14.1a | -13.2a |
| Income from continuing operations before taxes | 328a | 285.3a | 257.8a |
| Income tax expense | -107.5a | -28.3a | -14.9a |
| Net income from continuing operations | 220.5a | 257a | 242.9a |
| Loss on disposal of discontinued operations, net of tax | -0.6a | -0.6a | -0.4a |
| Net income | 219.9a | 256.4a | 242.5a |
| Less: non-controlling interests | 25a | 23.5a | 21.7a |
| Net income attributable to shareholders | 194.9a | 232.9a | 220.8a |
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