ITP Aero reported a full year revenue of €1.3bn ($1.4bn) in 2023, a 25% increase from its full year revenue in 2022. Its cash EBITDA for 2023 was up 48% to €217 million ($237 million). The company said the performance was boosted by commercial aviation's continued recovery as well as tailwinds in the defence industry.
""In our first full year under Bain Capital’s ownership, ITP Aero delivered outstanding results, with record breaking revenues up 25%, which is a significant achievement given the complexity of the operating environment,"" said ITP Aero Group CEO Eva Azoulay. Bain Capital acquired the company in 2022.
Azoulay added: ""In 2024, we will continue to deliver on our ambitious growth strategy, with record investment levels fuelling an international expansion plan, while progressing on our commitment towards the development of future-flight technologies and to decarbonisation through a number of targeted initiatives.""
ITP Aero added that over 500 employees joined the company in 2023, marking an 11% increase.
ITP Aero revenue up 25% to $1.4bn
