Aerospace components and structures manufacturer Montana Aerospace reported a net income of €35.8 million in 2024, swinging from a net loss of €38.4 million a year prior.
The company said the result marks the first positive net income since the company's initial public offering (IPO) in 2021. In addition, Montana's free cash flow more than doubled from €52.6 million in 2023 to €121 million.
Net sales improved 17% to €1.5bn for the year.
“Our success in 2024 underlines the strength and stability of Montana Aerospace,” said Montana Aerospace co-CEO Kai Arndt. “We are proud to not only continue to grow in a challenging market environment, but to report the first positive net income since the IPO in 2021.”
Montana Aerospace co-CEO and CFO Michael Pistauer said the strong results were driven by the “successful implementation” of its long-term growth strategy.
The company said its aerostructures segment reported a sales growth of 16% and net sales of €815.6 million in 2024, despite “challenges related to Boeing and Airbus” as it was able to gain further market share. The company said it benefitted from higher utilisation of its invested assets and its one-stop-shop concept.
“Long-term investments in state-of-the-art production facilities, such as those in Romania and Vietnam, have positioned Montana Aerospace as a strategic partner for the largest OEMs and Tier 1 companies in the aerospace industry,” the company read in its report.
With the promised ramp-up from both Airbus and Boeing, the company said they are increasingly turning to partners such as Montana to “provide a seamless supply” of both raw materials and ready-to-install components.
In addition, net debt was reduced by €64.9 million from 2023 to €210 million by the end of 2024.
The company expects net sales of over €1.6bn in 2025 and its aerostructures segment is expected to be over €850 million. For 2026, the company expects net sales of around €2bn.