Introduction
Each annual yearbook summarises our view of the industry and the state of Magnetic Group. There is so much more worth exploring to what you read from the annual yearbook – we do not wish to overwhelm you here, instead, we invite you to experience Magnetic Group via various possible ways, such as passionate people, social media, industry events, or using our services and products.
Despite the yearbook presents historical numbers, then we run a 5-year plan for each business unit. No, we do not have a crystal ball, but for a successful vision to materialise one shall look beyond 12-months.
We remain determined to spread great passion and drive to the industry.
CEO
Risto Mäeots
Despite all the odds
against our industry,
we have remained open
to new opportunities.
2022
Key figures
- REVENUE: 103 m EUR
- EBITDA: 5,2 m EUR
- EBITDA MARGIN: 6,06%
- OPERATIONAL CASH FLOW: 3,3 m EUR
- TOTAL ASSETS: 61 m EUR
- WORKFORCE: 692
- LOCATIONS: +30
2022
Key figures
- REVENUE: 103 m EUR
- EBITDA: 5,2 m EUR
- EBITDA MARGIN: 6,06%
- OPERATIONAL CASH FLOW: 3,3 m EUR
- TOTAL ASSETS: 61 m EUR
- WORKFORCE: 692
- LOCATIONS: +30
2022
Business and financial review
In 2022, three new subsidiaries were founded in Copenhagen, Denmark; Warsaw, Poland; and Miami, USA. The core of the Copenhagen-based business is to provide line maintenance services. The Warsaw branch is a workshop for wheels and brakes. The focus of the company in the United States is to increase our market share in this region, mainly through the sale of spare parts and mediation. Last year, the group also recovered to pre-COVID revenue volumes and reached 103M EUR, 54% more than a year before. The revenue is divided between sectors as follows: 53% is generated by Maintenance, 42% by Assets, 3% by Creative, and 2% by Talents. So far, the asset sector has delivered the most significant impact on our revenue growth. EBITDA in 2022 reached 5.2M EUR, exceeding last year’s result by 80%. Adjusted EBITDA – 6.3M EUR and surpassed the 2021 year by 35.8%. The main driver for this was aviation market recovery and an assertive sales strategy by the asset sector. Considering the effects of Q4 energy and inflation rises, the Adjusted EBITDA margin was slightly lower than the year before, 6.06%, compared with 6.86% in 2021.
In 2022, the group’s operational cash flow was +3.3M EUR. Almost 3 million was invested into components, tools, and the expansion of the engine workshop, and 1.5 million EUR was spent to decrease financial liabilities.
