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par BOOSTER Precision Components GmbH (isin : NO0012713520)

BOOSTER Precision Components GmbH demonstrates robust growth and stability in the first half of 2023

EQS-News: BOOSTER Precision Components GmbH / Key word(s): Half Year Report
BOOSTER Precision Components GmbH demonstrates robust growth and stability in the first half of 2023

28.08.2023 / 14:00 CET/CEST
The issuer is solely responsible for the content of this announcement.


BOOSTER Precision Components GmbH demonstrates robust growth and stability in the first half of 2023
  • Notable increase of revenues with +27% compared to prior year’s H1
    (Q2 2023 vs. Q2 2022: +31.6%)
  • EBITDA in line with management’s expectations
  • Accelerated transformation into multi-industry supplier: Almost 25% of new business intake totaling EUR 50.7 million in H1 2023 generated by non-combustion products

Frankfurt a. M., 28 August 2023 – BOOSTER Precision Components GmbH (Bond; ISIN NO0012713520) today published its unaudited consolidated results for the first half of 2023.

H1 2023: High business volume and amplified transformation of the product portfolio

Booster continued to significantly outperform its underlying markets with a sustained increase of 27% in sales revenues, totaling EUR 94.3 million in the first six months of 2023 (H1 2022: EUR 74.2 million).

The company achieved an EBITDA of EUR 11.2 million in H1 2023 (H1 2022: EUR 11.2 million). Adjusting the prior year’s H1 EBITDA for a one-time effect of EUR 2.5 million from the sale of a building in Belusa (Slovakia), EBITDA increased in H1 2023 by 28.8% over 2022’s first half year on a like for like basis. EBIT went up from EUR 6.9 million in H1 2022 to EUR 7.3 million in H1 2023, while group net income for the period was affected by higher interest expenses and decreased to EUR 1.9 million (H1 2022: EUR 2.2 million).

Current assets grew from EUR 65.9 million to EUR 73.2 million, caused by a higher volume of stocks and receivables resulting from the significantly higher sales volume in H1 2023. Consequently, total assets experienced a corresponding rise from EUR 107.2 million to EUR 116.7 million. Equity capital grew substantially by 21.1% to around EUR 15.6 million as of 30 June 2023 compared to EUR 12.9 million at the end of 2022.

Jerko Bartolić, Managing Director and CEO of Booster Precision Components: "We are pleased to present our half-year financial results, showcasing a robust operational performance. Revenues for H1 2023 have exceeded both budget expectations (+4%) and the corresponding period of the previous year (+27%), underlining our continued growth trajectory. The fact that we have already generated almost 25% of our new business orders with non-combustion products in H1 2023 reconfirms our confidence in Booster’s transformation into a multi-industry supplier.” 

Continued favorable earnings situation in Q2 2023

In Q2 2023, the demand for the Group’s products remained consistently high. Booster’s revenues were at EUR 46.9 million reflecting a notable increase of 31.6% compared to Q2 2022.

EBITDA amounted to EUR 5.6 million in Q2 2023, which is a significant rise from EUR 3.8 million in Q2 2022. Booster’s EBIT displayed an upward shift from EUR 1.9 million in Q2 2022 to EUR 3.6 million in Q2 2023 and group net income reached EUR 0.5 million (Q2 2022: EUR -0.2 million).

“Our strong earnings momentum in Q2 2023 underscores the accomplishment to achieve economies of scale through higher business volumes paired with a disproportionately low increase in costs, which can be seen as proof of our sound cost discipline”, says Dr. Ralph Wagner, CFO of BOOSTER Precision Components.

Given the strong order book, the Booster Group anticipates the marked revenue growth to continue on a full-year basis in 2023. Assuming energy prices and raw material costs to stabilize on a lower level,  the management expects an improvement in earnings of at least 10% in 2023.

The H1 2023 financial statements of BOOSTER Precision Components GmbH will be published under: https://www.booster-precision.com/en/.

 

Contact
BOOSTER Precision Components GmbH
Bockenheimer Landstraße 93
60325 Frankfurt a. M.

T +49 69 76758193
mail@booster-precision.com

 

About the Booster Group
The Booster Group is an international supplier specialized in the production and distribution of highly precise metal parts. The Booster Group comprises nine companies in five countries with production sites in in China, Germany, Mexico and two locations in Slovakia. The product portfolio mainly comprises compressor wheels and components for variable turbine geometry (VTG) turbochargers, which are mainly used in the automotive sector. A particular strategic focus is put on components for use in electrified or hydrogen-powered vehicles as well as for industrial or medical applications. 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

 



28.08.2023 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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Language:English
Company:BOOSTER Precision Components GmbH
Bockenheimer Landstraße 93
60325 Frankfurt am Main
Germany
Internet:https://www.booster-precision.com/
ISIN:NO0012713520
WKN:A30V3Z
Listed:Regulated Unofficial Market in Frankfurt
EQS News ID:1713019

 
End of NewsEQS News Service

1713019  28.08.2023 CET/CEST

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