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.
2021
Key figures
- REVENUE: 67,3 m EUR
- EBITDA: 2,9 m EUR
- EBITDA MARGIN: 6,9%
- OPERATIONAL CASH FLOW: 5,8 m EUR
- TOTAL ASSETS: 48,2 m EUR
- WORKFORCE: 689
- SERVED DIFFERENT AIRCRAFT: +230
- LOCATIONS: +30
2021
Key figures
- REVENUE: 67,3 m EUR
- EBITDA: 2,9 m EUR
- EBITDA MARGIN: 6,9%
- OPERATIONAL CASH FLOW: 5,8 m EUR
- TOTAL ASSETS: 48,2 m EUR
- WORKFORCE: 689
- SERVED DIFFERENT AIRCRAFT: +230
- LOCATIONS: +30
2021
Business and financial review
A second year under Covid-19 conditions has passed for Magnetic Group and brought in dynamic and strategic changes. By the end of 2020, the unpredictable nature of the pandemic, means that precise estimation of the pandemic’s final financial impact is still premature. However, significant impairments to goodwill and investments had already been made across the sector and within Magnetic MRO Group by the end of 2020. In 2021, Magnetic MRO AS announced a rebranding and introduced a new internal segmented company structure. All future activities will now be consolidated under a holding brand called ‘Magnetic Group’. Under Magnetic Group, the company is composed of four sectors, each representing a distinct activity: Magnetic Creative, Magnetic Assets, Magnetic Maintenance and Magnetic Talents.
The volume of Magnetic Group’s business in 2021 in relation to the sanctioned region associated with war in Ukraine, was around 7%. The unstable situation will negatively impact Magnetic Group’s results in 2022. However, considering the insignificant exposure to the sanctioned market the Group’s management believes that the situation will not affect operations significantly and it will not impact the Group’s continuation as a going concern.
