BOOSTER Precision Components GmbH Reports First Quarter 2024 Results

BOOSTER Precision Components GmbH reported its first quarter results of 2024, showing a revenue decline to EUR 43.4 million, an 8.3% decrease year-on-year. EBITDA fell by 19.3% to EUR 4.5 million compared to the previous year. The EBITDA margin also decreased by 1.5 percentage points to 10.0%. The drop in earnings was attributed to weaker demand and an unfavorable product mix, resulting in a net loss of EUR 0.3 million.

In response to the unexpected decline, the company has implemented measures including staffing adjustments and cuts to non-essential spending. BOOSTER also issued a bond worth EUR 18 million to optimize its financing structure, aiming to reduce long-term interest expenses.

Managing Director Jerko Bartolić and CFO Dr. Ralph Wagner highlighted these strategic steps towards optimizing financial stability. Despite the challenging automotive market outlook, BOOSTER anticipates moderate revenue and earnings growth in 2024.