BOOSTER Precision Components GmbH’s reports results for the first quarter of 2024

• Revenue at EUR 43.4 million down by -8.3% year-on-year in Q1 2024 (Q1 2023: EUR 47.3 million)
• EBITDA declined to EUR 4.5 million in Q1 2024 (Q1 2023: EUR 5.6 million)
• Series of measures launched following the unexpected decline in demand for the company’s products in the first quarter
• Increase of the existing bond in the amount of EUR 18 million to optimize BOOSTER’s financing structure

Frankfurt a. M., 29 May 2024 – BOOSTER Precision Components GmbH (Bond; ISIN NO0012713520) today published its unaudited consolidated results for the first quarter of 2024.

BOOSTER’s revenue in the first three months of 2024 was down by -8.3% compared to Q1 2023 amounting to EUR 43.4 million (Q1 2023: EUR 47.3 million). The EBITDA decreased by 19.3% year-on-year to EUR 4.5 million (Q1 2023: EUR 5.6 million). The EBITDA margin went down by 1.5 percentage points to 10.0% in the reporting period compared to 11.5% in the same quarter of the previous year. The revenue and earnings decline was caused by weaker than expected demand and an unfavourable product mix. The resulting Group net income for the period was negative at EUR -0.3 million (Q1 2023: EUR 1.4 million).

“We have taken several measures to respond quickly to the unexpected decline in demand in the first quarter: we are making short-term staffing adjustments where possible and cutting non-essential spending and investments while still working intensively on additional businesses. The main impact of these measures will be felt in the second half of the year,” says Jerko Bartolić, Managing Director and CEO of Booster Precision Components.

With regard to the balance sheet as at 31 March 2024, total assets stood at EUR 114.7 million (12-31-2023: EUR 114.5 million). BOOSTER’s current assets remained at a stable level at EUR 69.7 million (12-31-2023: EUR 69.9 million). The increase in inventories and receivables and other assets was offset by a lower level of cash and cash equivalents. Equity capital remains stable at EUR 15.0 million as of 31 March 2024 compared to EUR 14.8 million at the end of 2023. Liabilities as per 31 March 2024 fell by a total of EUR 1.2 million and amounted to EUR 91.6 million.

Dr. Ralph Wagner, Managing Director and CFO of BOOSTER Precision Components: "Regarding the optimization of our financing structure, we have just recently placed a further bond volume totaling EUR 18 million in order to repay the investment loan of EUR 15 million plus accrued interest. This will significantly reduce BOOSTER’s interest expenses in the long term.”

The management assumes that the business environment for the automotive industry will remain challenging in 2024 and that overall economic demand will remain subdued, particularly in Europe but also in other regions of the world, due to geopolitical and macroeconomic uncertainties. However, given the strong order book for the coming years, the Group expects revenues to grow moderately in a single-digit percentage range compared to the previous year (2023: EUR 183.6 million). Assuming energy prices and raw material costs to remain stable and further demand to meet management expectations, the group foresees a moderate increase in earnings (EBITDA 2023: EUR 21.3 million).

BOOSTER Precision Components GmbH’s Group Financial Report from January to March 2024 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 five 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