Page 16 - 2019 AMETEK Annual Report FINAL

14 Performance That Matters

Performance The AMETEK Growth Model delivers strong performance that
That Matters positively impacts our shareholders, colleagues, customers and

suppliers, and the communities where we operate.

In 2019, we achieved record results our Operational Excellence tool kit to
for essentially every key financial improve efficiency, and in 2019 we
$1,388 metric. These results were led by our delivered record levels of operating
colleagues’ relentless drive to execute income and EBITDA.
our growth model and do the very best
$1,250 Given this growth focus and operational
for our customers.
acumen, coupled with our asset-light
$1,000
We remain focused on generating model, all of AMETEK’s businesses
$546 $750 strong top-line growth by improving are excellent cash generators. In 2019,
organic sales, developing new products AMETEK’s operating cash flow reached
$500 and completing strategic acquisitions a record $1.1 billion, a 20% increase
with high growth profiles. As a result, over 2018. This allowed us to make
$250 our businesses generated record sales significant incremental investments
in 2019, surpassing $5 billion in annual supporting our internal growth initiatives,
10 11 12 13 14 15 16 17 18 19 sales. including new product innovation, along
with enhanced sales and marketing
EBITDA We also remain steadfast in our efforts. Free cash flow increased to
(In millions)
approach to driving efficiencies and $1.0 billion, up 20% over 2018 and our
improved operating performance. free cash flow conversion finished the
Our businesses continue to utilize year at an exceptional 118%.
26.9%

26.5%

25.5%

24.5%
22.1%
23.5%
22.5%

10 11 12 13 14 15 16 17 18 19
EBITDA
Margin

$1,012
$1,000

$800

$600
$384
$400

$200

10 11 12 13 14 15 16 17 18 19
Free
Cash Flow
(In millions)