Yesterday, GE Vernova released its 2024 Annual Report, our first Annual Report as an independent, publicly traded company. The report includes a letter to shareholders from our CEO Scott Strazik, and our 2024 10-K. We encourage you to review the materials on our website at gevernova.com/investors/annual-report.
In his letter, Scott recounts the strong foundation GE Vernova built in 2024. “In April, we became an independent, publicly traded company with a sole focus to provide our customers with the equipment, services, and software to generate and transfer reliable, affordable, secure, and sustainable electricity,” Scott said. “We executed on our objectives with a year of strong financial and operational performance. We delivered disciplined growth to drive margin expansion, higher free cash flow, and strategic capital allocation.”
He also discusses how we are delivering our industry’s transformation with an unprecedented era of electric growth ahead. “We are in the early stages of the next supercycle: global investment into the electric power system. With our unique scope and scale, GE Vernova is well-positioned to lead the next era of energy.”
Finally, the letter details five clear priorities for 2025 that will position us to serve and win:
1. Continue to accelerate GE Vernova culture
2. Scale for significant growth in Gas Power and Grid Solutions
3. Deliver the Wind turnaround
4. Position Nuclear and Electrification Software to play a meaningful role
5. Sustain our discipline with how we manage cash and cost structure
Looking ahead, we believe 2025 will be an exciting year for GE Vernova and our industry. We thank you for your continued support and investment in our company. For further information, please read the letter and our 10-K.
Best,
Michael & team
This document contains forward-looking statements. Forward-looking statements provide current expectations of future events based on certain assumptions. Words such as “expects,” “intends,” “plans,” and similar expressions, may identify such forward-looking statements. Except as required by law, we disclaim any obligation to update any forward-looking statements.