Company: SSUP
Filing Date: 2025-03-06
Form Type: 10-K
Source: 0000950170-25-034599
Chunk: 54

Company: SUPERIOR INDUSTRIES INTERNATIONAL INC
Filing Date: 2025-03-06
Form: 10-K
Item: Item 1B
Chunk 54
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31, 2023. The $8.3 million decrease in net sales was primarily due to lower aluminum and other pass through costs to our OEM customers of $10.3 million and a lower product mix and pricing of $5.3 million, which was partially offset by higher volumes of $7.4 million. 

North American segment income from operations for the year ended December 31, 2024 decreased by $8.8 million compared to the year ended December 31, 2023. The decrease in income from operations was primarily due to a lower product mix and pricing of $9.5 million and higher material and conversion costs of $2.2 million, which was partially offset by higher volumes of $2.6 million.

Europe

Net sales for our European segment for the year ended December 31, 2024 decreased 18.6% compared to the year ended December 31, 2023. The $109.7 million decrease in net sales was primarily due to lower volumes of $51.7 million, lower aluminum and other pass through costs to our OEM customers of $51.1 million, and a lower product mix and pricing of $6.4 million. The decline in volume was primarily attributable to the deconsolidation of the financial results of SPG, the decline in the Western and Central European market, and the exit from an unprofitable contract with one of our customers during 2023.

The European segment loss from operations during the year ended December 31, 2024 decreased $89.5 million compared to the year ended December 31, 2023. The decrease in loss from operations was primarily due to the $79.6 million loss on deconsolidation of SPG in 2023, lower material and conversion costs of $25.6 million, and lower SG&A expenses of $5.9 million, which was partially offset by lower volumes of $18.0 million and a lower product mix and pricing of $3.7 million.

25

Financial Condition, Liquidity and Capital Resources

Our ongoing capital requirements have historically been funded from cash flows from operations, debt facilities, factoring arrangements, and cash and cash equivalents, and we believe these sources will continue to meet our future requirements for at least the next 12 months. We believe we will maintain compliance with our financial ratios set forth in our credit agreements. However, our ability to fund our ongoing capital requirements and meet our financial covenants depends upon a number of operational and