BOOSTER Precision Components GmbH Reports Decline in Q1 2024 Earnings

BOOSTER Precision Components GmbH revealed a decrease in its Q1 2024 financial performance compared to the previous year. In the first quarter of 2024, the company recorded revenues of EUR 43.4 million, a drop from EUR 47.3 million in Q1 2023. Earnings before interest, taxes, depreciation, and amortization (EBITDA) also fell from EUR 5.6 million to EUR 4.5 million during the same period.

The decline in revenue and earnings was attributed to weaker than expected demand and an unfavorable product mix. Despite the downturn, management is implementing measures to counteract this trend while maintaining its outlook for the full year. The company anticipates moderate single-digit revenue growth and a slight increase in earnings, provided that energy prices and raw material costs remain stable, and demand aligns with expectations.

In addition to addressing the earnings decline, BOOSTER is considering a EUR 18 million tap issue of its corporate bond to refinance an existing subordinated loan. Details of this potential financial maneuver will be decided through a Written Procedure among bondholders.