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.
2023
Key figures
- REVENUE: 184 m EUR
- EBITDA: 10 m EUR
- EBITDA MARGIN: 5,41%
- OPERATIONAL CASH FLOW: 15 m EUR
- TOTAL ASSETS: 72 m EUR
- WORKFORCE: 752
- LOCATIONS: +30
2023
Key figures
- REVENUE: 184 m EUR
- EBITDA: 10 m EUR
- EBITDA MARGIN: 5,41%
- OPERATIONAL CASH FLOW: 15 m EUR
- TOTAL ASSETS: 72 m EUR
- WORKFORCE: 752
- LOCATIONS: +30
2023
Business and financial review
Despite this precarious economic and geopolitical landscape, the Magnetic Group demonstrated remarkable resilience, achieving record-breaking results with a revenue of Euro 184,112 thousand — a notable 74% increase from the previous year.
In 2023, EBITDA surged to Euro 9,753 thousand, surpassing the prior year’s figure by an impressive 32%. The surge was attributed to heightened demand in the aviation market post-recovery and a strategic sales approach by the Assets sector. The impact of energy and inflation notwithstanding, the EBITDA margin experienced a slight decrease, from 7% in 2022 to 5,3% in 2023.
The consolidated net profit for 2023 reached Euro 660 thousand, with a margin of 0,4% — a turnaround from the previous year when the Magnetic Group incurred a loss of Euro -485 thousand. Despite prevailing hardships, the Magnetic Group exhibited a positive free operating cash flow throughout 2023, a testament to the dedication of our global workforce, including mechanics, engineers, sales, and administrative personnel.
Total operating cash flow for the year was Euro 14,915 thousand, with a strategic investment of Euro 11,120 thousand primarily directed towards components, and an allocation of Euro 6,126 thousand for financing activities.
Looking ahead, 2024 is anticipated to remain challenging due to ongoing economic volatility and persistent geopolitical risks.
