Company: PLPC
Filing Date: 2025-03-13
Form Type: 10-K
Source: 0001628280-25-012640
Chunk: 46

Company: PREFORMED LINE PRODUCTS CO
Filing Date: 2025-03-13
Form: 10-K
Item: Item 7
Chunk 46
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 of $90.3 million increased $9.2 million, or 11%, primarily due to higher volumes in energy product sales, partially offset by lower communication sales. EMEA net sales of $128.2 million decreased $8.6 million, or 6%, primarily due to lower volume in communications sales, partially offset by increased volumes in energy product sales. Asia-Pacific net sales of $108.5 million increased $6.5 million, or 6%, primarily due to volume increases in energy product sales. 

Gross Profit. Gross profit of $189.8 million for 2024 decreased $45.0 million, or 19%, compared to 2023. Excluding the effect of currency translation, gross profit decreased $43.5 million, or 19%, as summarized in the following table:

21

Year Ended December 31,(Thousands of dollars)20242023ChangeChange Due to Currency TranslationChange Excluding Currency Translation% ChangeGross profitPLP-USA$92,969 $138,961 $(45,992)$— $(45,992)(33)%The Americas28,608 30,005 (1,397)(1,807)410 1 EMEA36,796 36,372 424 462 (38)— Asia-Pacific31,438 29,510 1,928 (224)2,152 7 Consolidated$189,811 $234,848 $(45,037)$(1,569)$(43,468)(19)%

PLP-USA gross profit of $93.0 million decreased by $46.0 million, or 33%, compared to the same period in 2023, primarily due to lower sales volumes and unfavorable product mix. International gross profit for the period ended December 31, 2024 was unfavorably impacted by $1.6 million when local currencies were translated to U.S. dollars. The following discussion of gross profit changes excludes the effects of currency translation. The Americas gross profit increased $0.4 million, or 1%, which was primarily the result of higher sales volumes, offset by increased depreciation expense and freight costs. EMEA gross profit decreased nominally, which was primarily driven by decreased sales volumes offset by favorable product mix and favorable resolution of a warranty claim. Asia-Pacific gross profit increased $2.2 million, or 7%, which was primarily driven by favorable product mix.

Costs and expenses. Costs and expenses of $