Reflecting on 2024, the year signified pivotal turning-point milestones and challenges for the aviation industry, marked by record-breaking growth in passenger capacity, heightened safety concerns, impactful political decisions, supply chain disruptions, and evolving sustainability efforts.
From the company's perspective, Magnetic achieved an 18% increase in sales targets Group-wide. Two sectors led the way: Magnetic Maintenance and Magnetic Assets, which showed growth in each business unit's bottom line.
Financial Results
In 2024, the Group reached Euro 172,256 thousand in revenue, Euro 15,003 thousand in EBITDA, and Euro 5,864 thousand in net profit. Revenue is divided between segments: 43% is generated by the Maintenance sector, 55% by Assets, and 1% by Talents.
EBITDA increased by 57.5% compared to the previous year, driven by a recovery in aviation market demand, a focus on strategic projects, and improved operational efficiencies. These contribute to EBITDA growth, while targeted investments enhance productivity and service capabilities. Despite inflation-related challenges, Magnetic Group's cost management and strategic initiatives led to a more substantial EBITDA margin – 8.7% in 2024 compared to 5.3% last year.
In 2024, the consolidated net profit reached Euro 5,864 thousand, with a margin of 3.4% (in 2023, the company delivered a net profit of Euro 660 thousand and a 0.4% margin). Total operating cash flow amounted to Euro 14,596 thousand, while the Group invested Euro 7,073 thousand primarily towards components, machinery, and technology. An additional Euro 7,712 thousand was utilized for financing activities.
Prioritizing Long-Term Stability
Overall, Magnetic Group experienced significant commercial and operational growth. We have also remained steadfast in our financial discipline, prioritizing efficiency, innovation, and strategic investments that will guide us into the future. While there are certain headwinds going into 2025, such as the labor crunch, we are well-equipped to handle any obstacles while capitalizing on all the opportunities that present themselves. As always, we will move with the market and adapt as necessary.
Read the full Annual Report 2024 here.
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