Dafinchi AI

IFF

Industrial

Divested soy crush, concentrates, and lecithin business to Bunge, improving margin profile and strategic focus.
Divestiture of Pharma Solutions and Nitrocellulose businesses completed, reducing leverage to 2.5x, below the 3x target.
Focus on differentiated innovation in core products to drive margins and strategic clarity.

MIDD

Industrial

Middleby has heavily invested over the past 3 years in innovation, go-to-market capabilities, and operational excellence.
Revolutionized innovation engine and retooled selling organization.
Strategic expansion into new adjacencies like ice and beverage segments, with early market share gains.
Investments in automation, controls, and IoT are long-term differentiators.

Industrial

The Industrial segment achieved a record adjusted operating margin of 25.1%, up 90 basis points from the previous year, driven by The Win Strategy.
The company expects a 700 basis point margin expansion from FY '19 through FY '26, demonstrating significant margin resilience even during negative organic growth periods.
The portfolio's shift towards longer cycle, secular trend, and aftermarket revenues is a key factor, with 67% now in these categories.
International and diversified industrial businesses are using cost reduction and efficiency tools to sustain margin growth amid market challenges.
The transformation includes acquisitions and international distribution growth, with an aim for 85% of the portfolio to be longer cycle, secular, and aftermarket by FY '29.

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