BOOSTER Precision Components GmbH publishes consolidated financial statements for 2023: Record revenues and strong operational performance

Frankfurt a. M., 30 April 2024 – BOOSTER Precision Components GmbH (Bond; ISIN NO0012713520) today published its consolidated financial statements for the financial year 2023.

Revenue increased by 17.5% from EUR 156.2 million in the previous year to a total of EUR 183.6 million in the fiscal year 2023, which is significantly above the forecast. The company’s EBITDA grew by 9% compared to 2022 to EUR 21.3 million (2022: EUR 19.5 million). The EBITDA margin went down from 12.4% in the previous year to 11.6% in 2023, which is essentially due to product mix effects as well as to start-up costs for the launch of a large-scale project in China. As a result of higher-than-planned depreciation and significantly Increased interest rates, the consolidated net profit of EUR 1.1 million remained below the previous year’s net profit of EUR 2.1 million.

With regard to the balance sheet as at 31 December 2023, the increase in inventories and receivables compared to the previous year resulted from the significant rise in revenues in the year 2023. Current assets therefore went up from EUR 65.5 million in the previous year to EUR 69.9 million as at 31 December 2023. As a result, total assets increased from EUR 107.2 million to EUR 114.8 million as per 31 December 2023. Equity capital rose by 14.6% to EUR 14.8 million as of 31 December 2023 compared to EUR 12.9 million at the end of 2022.

Among newly acquired business projects totaling EUR 128 million in 2023, 20% are already attributable to the non-ICE (Internal Combustion Engine) products outside the company’s core business for the automotive industry.

Jerko Bartolić, Managing Director and CEO of Booster Precision Components: “The past year was a record year for BOOSTER in many ways – in terms of revenue, financial result, value of newly acquired business projects and operational performance. We maintained our strong presence in the turbocharger sector while continuing our strategic diversification into emerging opportunities in other markets. We remained focused on developing new business opportunities in the non-ICE sector, with significant investments in infrastructure and prototyping machinery in Europe and China. This resulted in another record: 50% of all prototypes delivered in 2023 were projects for non-ICE applications. We also succeeded in attracting both existing and new customers for our products for E-Mobility and Fuel Cell applications.”

At the time of preparing the consolidated financial statements, management assumes that the business environment for the automotive industry will remain challenging in 2024 and that economic development, especially in Europe but also in other regions of the world, will remain subdued due to geopolitical and macroeconomic uncertainties. On balance, the BOOSTER Group expects revenue in 2024 to increase moderately at a single-digit percentage rate against the previous year (2023: EUR 183.6 million). Assuming stable energy prices and raw materials costs, management expects earnings before interest, taxes, depreciation and amortisation to also grow moderately year-on-year (2023 EBITDA: EUR 21.3 million).

Dr. Ralph Wagner, Managing Director and CFO of BOOSTER Precision Components: "We are pleased to report a strong revenue and earnings performance for the full year 2023. With regards to earnings, we consider the EBITDA growth of 9% as a significant achievement given the overall demanding economic environment. Considering our existing long-term projects, the strong order book for the coming years and the ongoing trend towards E-Mobility, we believe that we are well positioned for sustainable growth.”

The Group Annual Report of BOOSTER Precision Components GmbH for the financial year 2023 will be available under https://www.booster-precision.com/en/investor-relations/financial-reports.html.


Contact:
BOOSTER Precision Components GmbH
Bockenheimer Landstraße 93
60325 Frankfurt a. M.
T +49 69 76758193
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 four countries with production sites in 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