On this page of StockholderLetter.com we present the latest annual shareholder letter from INTERFACE INC — ticker symbol TILE. Reading current and past TILE letters to shareholders can bring important insights into the investment thesis.

 •  4/1/2025 Letter Continued (Full PDF)
 •  4/4/2023 TILE Stockholder Letter
 •  4/1/2024 TILE Stockholder Letter
 •  More "Office Supplies" Category Stockholder Letters
 •  TILE Benford's Law Stock Score = 90

TILE Shareholder/Stockholder Letter Transcript:

2024
ANNUAL
REPORT

Dear Fellow Shareholders,
We came into 2024 with momentum and delivered an
incredible year. I am very proud of the Interface global
team for their disciplined execution of our One Interface
strategy     our multi-year effort focused on building strong
global functions to support our world-class selling teams,
enhancing commercial productivity, optimizing our supply
chain management, and leading in design, innovation, and
sustainability.
on our goal to be carbon negative by 2040, without the use
of carbon offsets. This move allows us to repurpose offset
investments to accelerate innovation in carbon reductions
and storage. By doubling down to store more carbon than
we emit, we once again demonstrated that Interface is
the undisputed sustainability leader in our industry. In fact,
Reuters    2024 Sustainability Awards honored our shift away
from offsets with its highest distinction in the Net Zero:
Leadership category.
2025 and Beyond
Over the past year we made important advances to deliver
consistency and ef   ciencies across our brands, facilities, and
regions     all while providing best-in-class    ooring solutions to
our customers. We introduced a new brand attitude     Made
for More        which unites our Interface   and nora   brands
and streamlines our global marketing efforts. It also serves as
a great example of how our One Interface strategy is bringing
   more    to our organization. More clarity. More collaboration.
More momentum.
Although we are still early in our journey, it is clear our One
Interface strategy is yielding positive results, in some areas
even faster than we anticipated. Moving forward, we are
con   dent that we have more growth opportunity that will
allow us to realize the full potential of our long-term vision.
2024 Results
We delivered strong    nancial results in 2024, signi   cantly
boosting pro   tability despite continued headwinds in our
industry. Global billings were up across all product categories,
and our strategy to offer more affordable price points and
differentiated products has expanded our addressable
market in high-growth segments, including Education and
Healthcare. We also improved margins and drove operational
ef   ciencies by globally aligning our supply chain organization
and investing in automation and robotics at key carpet tile
and rubber manufacturing plants. These efforts generated a
strong balance sheet that provides resilience and optionality,
and as we move into 2025, we will maintain a disciplined
capital allocation strategy by investing wisely in the business
to drive growth and accelerate value creation.
In Q1 2024, we implemented an integrated selling approach
combining our nora and Interface selling teams in the
U.S. as part of One Interface. This collaborative strategy is
delivering faster results than we anticipated, and we are
successfully tapping into new opportunities across our
product portfolio and market segments. Education continues
to be an exceptional segment for Interface, and we performed
favorably compared to the overall industry in Corporate Of   ce.
Interface is also positioned for success in Healthcare, with
our integrated selling teams    nding new opportunities to sell
our full suite of products to healthcare systems.
Last year also marked a bold step forward in our sustainability
journey. On Earth Day, we announced that we are going    all in   
Looking ahead to 2025, we remain focused on investing
in our business, supporting operational excellence, and
providing value to our customers. We   re still in the early
stages of implementing our One Interface strategy and see
more opportunity to build on our initial success. Given this,
the ongoing execution of this effort continues to be our
top priority, and the results we delivered in 2024 from One
Interface give us con   dence that there is more growth to
come.
We began 2025 by unveiling the    rst-ever cradle-to-gate
carbon negative rubber    ooring prototype, which shows how
we are bringing our long track record of carbon reduction
and innovation to our nora rubber brand. This prototype is
just one example of the product innovation and R&D that
we   re eager to share with customers in the coming months.
On the operations front, we are committed to further
enhancing productivity, streamlining work   ows, and optimizing
resources throughout 2025, including continued investment
in automation at our manufacturing facilities. Importantly,
by reinvesting ef   ciency-driven savings directly into the
business, we continue to drive growth and position ourselves
for long-term success.
As I think about the past year, I am incredibly pleased with
our global team   s execution of our strategy. We achieved
impressive results in 2024, and there is plenty of opportunity
for further growth. We look forward to continued progress
across all areas of our business as we work to meet our
customers    evolving needs and to increase shareholder value.
Laurel M. Hurd
Chief Executive Of   cer
Interface, Inc.



 4/1/2025 Letter Continued (Full PDF)