BOOSTER Precision Components GmbH reports unaudited financial results for 2024

 BOOSTER Precision Components GmbH reports unaudited financial results for 2024

• Full Year 2024: Revenues of EUR 169.3 million (-7.8% year-on-year), EBITDA of EUR 13.2 million vs. EUR 21.2 million in 2023 (EBITDA adjusted for one-off costs: EUR 15.3 million, 2023: EUR 21.1 million)
• Q4 2024: Revenues of EUR 40.7 million (-9.8% year-on-year), EBITDA of EUR 3.5 million vs. EUR 5.1 million in Q4 2023
• Continued focus on financial stability through optimized cost management
• Efficient working capital management significantly strengthened operating cash flow

Frankfurt a. M., 28 February 2025 – BOOSTER Precision Components GmbH (bond; ISIN NO0012713520) today published its unaudited consolidated results for the financial year 2024.

Full Year 2024: Demand still affected by challenging market conditions in the automotive industry; disciplined working capital management leads to a substantial increase in operating cash flow

BOOSTER recorded lower sales, resulting in a 7.8% decline in revenues to EUR 169.3 million. This development is in line with the continued weakness in the automotive sector.

The company’s EBITDA was additionally impacted by an unfavourable product mix and fell by 37.8%, to EUR 13.2 million compared to EUR 21.2 million in the previous year. Excluding the one-off costs of EUR 0.6 million for the subsequent bond issue in May 2024 and other extraordinary items, EBITDA recorded a 27.5% decline, amounting to EUR 15.3 million (2023: EUR 21.1 million). The company’s EBIT sharply declined and totaled EUR 4.4 million in 2024 (2023: EUR 12.5 million). The Group net result turned negative at EUR -5.7 million compared to EUR 1.1 million in the previous year.

BOOSTER Group’s total assets as of 31 December 2024 stood at EUR 108.2 million (31 December 2023: EUR 114.5 million), following a 5.5% decline. Fixed assets were at EUR 42.0 million, a decrease of 3.2% (31 December 2023: EUR 43.4 million), while current assets went down by 7.1% to EUR 65.0 million as of 31 December 2024 (31 December 2023: EUR 69.9 million). The decrease of inventories and receivables and other assets reflects the lower sales volume as well as the working capital optimization efforts in the reporting period. Cash and cash equivalents increased by EUR 2.3 million to EUR 13.5 million.

Due to the negative Group net result, equity capital dropped by 49.0% to EUR 7.5 million as of 31 December 2024 (31 December 2023: EUR 14.8 million). Total liabilities stood at EUR 93.1 million (31 December 2023: EUR 92.8 million). Liabilities to banks rose by EUR 1.9 million and bond liabilities rose by EUR 13.0 million to EUR 46.5 million due to the issue of subsequent bonds in order to refinance long term investment loans in the amount of EUR 17.7 million plus current interest of EUR 1.3 million in May 2024.

The cash flow from operating activities improved significantly and totaled EUR 17.7 million (2023: EUR 7.2 million). The  disciplined working capital optimization efforts were a key driver of this positive development, while the net loss for the period had a negative effect.

Jerko Bartolić, Managing Director and CEO of BOOSTER Precision Components: “Our 2024 results reflect lower demand at a global level and across our customer base. At the same time, operational discipline and productivity improvements have mitigated the negative impact on earnings. New business awards above targeted volumes and a strong pipeline of open tender ensure a solid basis for BOOSTER in the medium term."

Q4 2024

The company’s revenues dropped by 9.8% year-on-year to EUR 40.7 million (Q4 2023: EUR 45.1 million) in the fourth quarter of 2024. EBITDA fell by 31.5% and amounted to EUR 3.5 million, compared to EUR 5.1 million in Q4 2023. EBIT also decreased to EUR 1.2 million in Q4 2024 (Q4 2023: EUR 2.3 million), while the Group net result for the period was negative at EUR -0.7 million (Q4 2023: EUR -0.6 million).

Dr Ralph Wagner, CFO of BOOSTER Precision Components: "By focusing on cost control and financial discipline, we are creating a more resilient and efficient organization, which is able to cope with market uncertainties. The year-on-year improvement in operating cash flow already reflects the first successes of our improved working capital management. We are optimistic that demand will stabilize in 2025 allowing us to achieve revenues at last year’s level. Based on today’s estimates, the cost-cutting measures we have implemented in 2024 will therefore start to pay off in 2025.”

Outlook 2025

Considering the current business development, BOOSTER’s management expects a stabilization in demand and anticipates that the cost reduction measures initiated last year will continue to deliver results. The management assumes revenues to remain stable year over year (2024: EUR 169.3 million) and EBITDA to increase by more than 20% in 2025 (EBITDA 2024: EUR 13.2 million).

Robert Lackermeier, Managing Director and future CEO of BOOSTER Precision Components: “While 2024 was characterised by market volatility and declining demand, we are addressing these uncertainties with a clear focus on transformation and diversification. In the evolving automotive sector, we are strengthening our position with innovative solutions for e-mobility and hydrogen technology. At the same time, we are using our expertise in precision machining to expand into promising industries such as power, oil and gas, and mining. Our advances in industrial compressors demonstrate our ability to innovate beyond the automotive industry.”

The unaudited consolidated financial statements of BOOSTER Precision Components GmbH for the financial year 2024 will be available under https://booster-precision.com/en/investor-relations/financial-reports.html.

Contact:

BOOSTER Precision Components GmbH
Industriepark Brundorf 4
28790 Schwanewede
T +49 4795 95610
mail@booster-precision.com

About BOOSTER Group

The BOOSTER Group is an international supplier focused on the production and distribution of highly precise metal parts. BOOSTER Group comprises nine companies in five countries with production sites in China, Germany, Mexico and two locations in Slovakia. The BOOSTER Group’s activities currently focus on components for turbochargers, which are primarily used in the automotive sector. As part of BOOSTER’s growth strategy, the product portfolio has been expanded to include components for use in electrified or hydrogen-powered vehicles as well as for industrial or medical applications with a positive impact on efficiency and sustainability. BOOSTER Precision Components GmbH is the holding company of the BOOSTER Group and provides management, consulting and services for its domestic and foreign subsidiaries.

www.booster-precision.com