Key developments at LaserBond in 2024

LaserBond (ASX:LBL) had a transformative year in 2024 with significant investments and strategic moves. The company acquired a 40% stake in the Gateway Group, expanding into Western Australia. Despite not meeting growth expectations, LaserBond focused on enhancing future revenue prospects through substantial capital deployment.

LaserBond's strategic focus and future outlook

LaserBond is actively pursuing strategies for growth, including expanding services closer to major customers, particularly in North America, and driving innovation. The company focuses on sustainability with significant revenue from remanufacturing services, aiming to meet ESG demands. Leadership changes and succession planning are underway, alongside investments in capabilities and workforce expansion. The company anticipates substantial double-digit growth, leveraging new markets and strategic initiatives. LaserBond is also preparing for Global Sustainability Accounting Standards by FY28 and enhancing operations with Quick Response Teams to reduce lead times.

Executive insights on LaserBond's strategy

LaserBond has reset its vision, establishing a strategic roadmap focused on leveraging its intellectual property, modular technology, and leadership team to foster sustainable growth.