ADI Global sales in 2023 were $3.57 billion, flat compared with 2022.
ADI saw growth in the access control and audiovisual categories but ongoing slower demand within residential security.
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ADI’s ecommerce channel grew 8% in 2023 compared with the prior-year period, representing 20% of total ADI revenue, as the business continues to invest in the expansion of digital capabilities. Overall touchless revenue, which includes ecommerce, email-order entry and EDI, was 38% of ADI’s total revenue for 2023. Operating profit was $270 million, down 14%.
ADI’s results were reported under its parent company, Resideo Technologies Inc. (NYSE: REZI), whose overall sales were $6.3 billion for the year, down 2% from 2022.
