Company: SSUP
Filing Date: 2025-03-06
Form Type: 10-K
Source: 0000950170-25-034599
Chunk: 51

Company: SUPERIOR INDUSTRIES INTERNATIONAL INC
Filing Date: 2025-03-06
Form: 10-K
Item: Item 1B
Chunk 51
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 value added sales adjusted for foreign exchange and a reconciliation of value added sales and value added sales adjusted for foreign exchange to net sales, the most comparable U.S. GAAP measure.

(2)Adjusted EBITDA is a key measure that is not calculated according to U.S. GAAP. Refer to “Non-GAAP Financial Measures” for a definition of adjusted EBITDA and a reconciliation of our adjusted EBITDA to net income, the most comparable U.S. GAAP measure.

Net Sales

The following table lists the primary drivers behind the change in net sales (amounts in millions):

    Year ended December 31, 2023
     
    $
    1,385.3

    Aluminum and other pass through costs

    (61.4
    )

    Volume

    (44.3
    )

    Product mix and pricing

    (11.7
    )

    Foreign exchange

    (0.6
    )

    Year ended December 31, 2024
     
    $
    1,267.3

Value Added Sales Adjusted for Foreign Exchange

Value added sales adjusted for foreign exchange was $690.4 million for the year ended December 31, 2024 compared to value added sales adjusted for foreign exchange of $747.6 million for the same period in 2023, a decrease of 7.6%.

23

Cost of Sales

The following table lists the primary drivers behind the change in cost of sales (amounts in millions):

    Year ended December 31, 2023
     
    $
    1,269.5

    Material and conversion costs

    (86.3
    )

    Volume

    (28.9
    )

    Mix

    1.5

    Foreign exchange

    1.0

    Year ended December 31, 2024
     
    $
    1,156.8

Selling, General and Administrative Expenses

Selling, general and administrative (“SG&A”) expenses for the year ended December 31, 2024 were $81.3 million, or 6.4% of net sales, as compared to $87.6 million, or 6.3% of net sales, for the year ended December 31, 2023. This decrease of $6.3 million was primarily due to a $14.8 million provision for a valuation allowance on claims receivable from the SPG bankruptcy estate