For Magnetic Group, 2023 signified substantial growth and a record year financially. With the aviation market recovering and dictating a peak number of aircraft returning to service, the industry responded with the quickest supply ramp-up in history.
2023 at a Glance
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. The revenue distribution across sectors was as follows: Magnetic Assets 61%, Magnetic Maintenance 37%, Magnetic Creative 1% and Talents 1%.
“It has been pleasing to witness that the results for 2023 are a testament to aligning and nurturing all phases of our business and team,“ shares Risto Mäeots, CEO of Magnetic Group.
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 decrease, from 7% in 2022 to 5.3% in 2023.
Future Outlook
Looking ahead, 2024 is anticipated to remain challenging due to ongoing economic volatility and persistent geopolitical risks. Magnetic Group is well-prepared to navigate these uncertainties, boasting a robust balance sheet that positions us favorably for potential economic downturns. Our commitment to sustainability is underscored by a focus on environmentally, socially, and governance-oriented growth and financing, aligning with the increasing demand and interest in these areas.
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