BOOSTER Precision Components GmbH Reports Decline in 2024 Nine-Month Results

BOOSTER Precision Components GmbH has released its unaudited financial results for the first nine months of 2024, revealing a revenue decrease of 7.2% to EUR 128.6 million. The company attributed the decline to ongoing challenges within the automotive sector, combined with one-off consultancy costs and adverse currency impacts from the weakened Mexican peso.

EBITDA dropped significantly by 39.8% to EUR 9.7 million, impacted by an unfavorable product mix. The Group's net result showed a negative EUR -5.0 million compared to EUR 1.7 million the previous year. Total assets decreased by 12.3% to EUR 100.4 million, reflecting reduced sales volume and lower inventory levels, amidst strengthened cost management efforts.

BOOSTER forecasts further revenue decline for the full year, projecting over a 10% fall in revenues. In a management change, Robert Lackermeier will join as Managing Director in January 2025, eventually assuming the role of CEO by April 2025.