BOOSTER Precision Components GmbH Reports H1 2024 Results: Below Expectations

BOOSTER Precision Components GmbH released its unaudited financial results for the first half of 2024, showing revenues and earnings below expectations. Revenues reached EUR 88.3 million, marking a 6.3% decline compared to H1 2023. Q2 2024 alone recorded a 4.3% decrease year-on-year.

The EBITDA for H1 2024 was EUR 7.7 million, down 31.3% from the previous year. Adjusted for one-off costs, EBITDA was EUR 8.3 million, reflecting a 25.9% drop. Lower demand, consultancy costs, and currency effects adversely affected the figures.

Net income for the first six months was negative at EUR -2.0 million, a stark contrast to the EUR 1.9 million net income in H1 2023. The company’s total assets decreased to EUR 109.6 million, while equity capital was down 18.2% to EUR 12.1 million due to losses and currency impact.

The management has adjusted its full-year outlook, now anticipating a revenue decline of up to 10% and an EBITDA drop of up to 20%. The company will focus on securing long-term financial stability through cost-cutting measures.