EQS-News: BOOSTER Precision Components GmbH maintains robust trajectory marked by growth and stability in the first nine months of 2023

• Strong increase of revenues of +20.5 % in the first nine months 2023
  
  (Q3 2023 vs. Q3 2022: +8.7%)
• 9M EBITDA at 16.1 million, in line with management’s expectations
• Strong business intake of EUR 111.8 million in the first nine months of 2023 

Frankfurt a. M., 30 November 2023 – BOOSTER Precision Components GmbH (Bond; ISIN NO0012713520) today published its unaudited consolidated results for the first nine months of 2023.

9M 2023: Continued growth of revenues and strong order intake

BOOSTER saw a strong order intake totaling EUR 111.8 million in the first nine months of 2023, with non-combustion products accounting for 13.2%.

In the first nine months of 2023, BOOSTER recorded a revenue increase of 20.5% to EUR 138.5 million at group level, compared to EUR 114.9 million in the same period of the previous year.

On the earnings side, the company achieved an EBITDA of EUR 16.1 million in the first nine months of 2023, which is slightly higher compared to the same period of the previous year (9M 2022: EUR 15.9 million). Adjusting the EBITDA for the one-time effect of the sale of a building in Povazska (Slovakia) in Q3 2023 for EUR 0.4 million and the previous year’s EBITDA for the one-time effect from the sale of a building in Belusa (Slovakia) in Q1 2022 in the amount of EUR 2.5 million, EBITDA in the first three quarters of 2023 increased by EUR 2.3 million or 16.7% on a like for like basis.

Booster generated an EBIT of EUR 10.2 million (9M 2022: EUR 9.4 million). Due to higher interest expenses, group net income amounted to EUR 1.7 million (9M 2022: EUR 2.8 million).

Current assets grew from EUR 65.9 million to EUR 74.5 million, caused by a higher volume of stocks and receivables resulting from the significantly higher sales volume in the first nine months of 2023. Total assets consequently went up from EUR 107.2 million to EUR 118.7 million. Equity capital experienced substantial growth of 24.4% to around EUR 16.0 million as of 30 September 2023 compared to EUR 12.9 million at the end of 2022.

Jerko Bartolić, Managing Director and CEO of Booster Precision Components: "We are very encouraged by our latest business intakes, particularly by the longer-term structure of those assignments. Furthermore, our confidence in BOOSTER’s ability to adapt to the needs of the evolving automotive industry has been reconfirmed once more, as we can also report a positive development in new business intakes in the field of e-mobility, where major contract awards are expected in the fourth quarter of 2023. Another milestone has been reached after successfully passing customer audits at our plant in Schwanewede in the third quarter, which were given as precondition for new business orders. And we also passed a pre-audit at our plant in Taicang, which is a promising sign for the start of our new Chinese fuel cell business in 2024.” 

Growth in Q3 2023 with slowing momentum

Once again, BOOSTER  saw significantly higher demand in Q3 2023 than in the same period of the previous year, although there has been a slight slowdown in momentum compared to the first half of the year.

Revenues amounted to EUR 44.3 million in Q3 2023 (Q3 2022: EUR 40.7 million), which represents a notable growth of 8.7% compared to Q3 2022.

In Q3 2023, BOOSTER achieved an EBITDA of EUR 4.9 million, which is a moderate increase from Q3 2022’s EBITDA of EUR 4.7 million. BOOSTER’s EBIT showed a positive development from EUR 2.5 million in Q3 2022 to EUR 2.9 million in Q3 2023. Group net income was slightly negative with EUR -0.2 million (Q3 2022: EUR 0.5 million).

“In the course of turning into a multi-industry supplier by opening up new markets and target groups, we launched a new BOOSTER website, where our four business units Fuel Cell, e-Mobility, Industry and Turbo can be directly accessed via the powerful header. The new website goes hand in hand with the new company slogan “Engineers4Future”, which emphasizes how important people and their know-how are to BOOSTER, as they are innovators and the central foundation of the company’s success”, says Dr. Ralph Wagner, CFO of BOOSTER Precision Components.

Against the background of the cooling down of the overall economic situation in conjunction with the seasonally lower business level in the fourth quarter, the BOOSTER Group still expects group revenues to grow by more than 10% 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 (EBITDA) of about 10% in 2023.

The BOOSTER group financial report from January to September 2023 will be published under: https://www.booster-precision.com/investor-relations/financial-reports.html.

 

Contact:

BOOSTER Precision Components GmbH

Bockenheimer Landstraße 93

60325 Frankfurt a. M.

T +49 69 76758193
[email protected]

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