Company: JBI
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0001839839-25-000032
Chunk: 118

Company: Janus International Group, Inc.
Filing Date: 2025-02-26
Form: 10-K
Item: Item 7
Chunk 118
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 amounts in millions)Year EndedVarianceVariance BreakdownDecember 28, 2024December 30, 2023$%Acquisition CostOrganic GrowthOrganic Growth %Product cost of revenues$33.3 $31.7 $1.6 5.0 %$— $1.6 5.0 %Service cost of revenues 22.3 26.4 (4.1)(15.5)%17.9 $(22.0)(83.3)%Cost of revenues$55.6 $58.1 $(2.5)(4.3)%$17.9 $(20.4)(35.1)%

Cost of revenues decreased by $2.5 or 4.3% for the year ended December 28, 2024 compared to the year ended December 30, 2023. The change in cost of revenues is generally aligned with the changes in revenues following volume activity, slightly offset by an increase in fixed  costs related to the manufacturing plant located in Poland, which was fully operational for the year ended December 28, 2024. 

Operating Expenses - General and administrative

General and administrative expenses increased $0.4 or 3.1% for the year ended December 28, 2024 compared to the year ended December 30, 2023. The increase for the year ended December 28, 2024 is primarily due to the higher cost structure with an additional manufacturing plant located in Poland, which opened in late fiscal year 2023 and was operational during the full fiscal year 2024.

Income from Operations

Income from operations decreased by $7.8 for the year ended December 28, 2024 compared to the year ended December 30, 2023. The decrease for the periods is primarily due to a decrease in sales volume and decline from fixed cost leverage.

Adjusted EBITDA

Adjusted EBITDA decreased by $7.6 or 77.6% compared to the year ended December 30, 2023, primarily due to a decline in revenues and an increase in our cost structure associated with our Poland manufacturing plant. 

39

Results of Operations - Eliminations

Eliminations include transactions to account for intercompany activity. The eliminations necessary to arrive at consolidated financial information activity for the years December 28, 2024 and December 30, 2023 are as follows:

(dollar amounts in millions)Year EndedRe