Deane Dray

Jeffrey Hammond

Julian Mitchell

Michael Halloran

Nigel Coe

David Raso

Zach Walljasper

Andrew Kaplowitz

Christopher Snyder

Damian Karas

Clay Williams

Jerry Revich

Stephen Volkmann

- Gates anticipates achieving **24% adjusted EBITDA margins** over the next **12 to 24 months** and expects **45%** incrementals for the first **12 to 18 months** of volume recovery, normalizing to **35%** thereafter.  **[1718512_tx_379753_0]** **[1718512_tx_379753_7]** 
- The company projects significant growth in its personal mobility business, aiming to increase revenue from approximately **$100 million** in **2024** to **$300 million** by **2028**, representing a **30% compound annual growth rate**.  **[1718512_tx_379753_2]** 
- Gates is pursuing substantial opportunities in industrial chain to belt conversion, targeting **$2 billion to $5 billion** in revenue by the **end of the decade** from an **$8 billion** total addressable market.  **[1718512_tx_379753_3]** 
- In the emerging liquid cooling of AI-based data centers, Gates has secured a supply agreement for hose and coupling assembly starting in **2026**, with an estimated **$100 million to $200 million** in incremental revenue by **2028**.  **[1718512_tx_379753_4]** 
- The balance sheet is strong, with leverage expected to be below **2x** by the **end of 2025** and a target of **1.5x to 2x** by **2026**. Surplus cash will be deployed for debt paydowns and share buybacks, with M&A also being evaluated.  **[1718512_tx_379753_8]**

Gates Industrial Corp Discusses Strategic Initiatives and Market Trends

Gates Industrial Corp (GTES)