BOOSTER Precision Components Reports Strong 2023 Financial Performance

BOOSTER Precision Components GmbH has released its consolidated financial statements for 2023, revealing a significant revenue increase of 17.5% compared to 2022, settling at EUR 183.6 million. This growth surpassed the company’s forecasts, highlighted by a robust operational performance in a challenging market environment.

The firm's earnings before interest, taxes, depreciation, and amortisation (EBITDA) rose by 9% from the previous year to EUR 21.3 million. However, the EBITDA margin slightly decreased to 11.6%, influenced by product mix effects and start-up costs for a major project in China. Net profit for the year stood at EUR 1.1 million, affected by higher depreciation and increased interest rates.

BOOSTER's 2023 achievements include significant revenue growth and expansion into non-Internal Combustion Engine (ICE) products, constituting 20% of the new business. This diversification aligns with the company's strategy to tap into emerging markets outside its traditional automotive sector, particularly focusing on E-Mobility and Fuel Cell applications.

Management expects a single-digit revenue growth in 2024 despite the forecasted challenges in the automotive sector and broader economic uncertainties. The company is confident in its strategic positioning and growth trajectory, especially with its ongoing projects in emerging technology sectors.