BAIKOWSKI: 2024 Half-Year Financial Report

The Board of Directors of Baikowski® convened on September 18, 2024, to review and finalize the financial statements for the first half of the year, from January 1 to June 30, 2024. During this period, the group reported revenues of €26.0 million, reflecting a 13.4% increase at constant exchange rates compared to the same period in 2023. The company experienced a rebound in its core markets, especially in the electronics sector, as well as solid performance in automotive, batteries, aerospace & defense, and medical sectors.

Baikowski® recorded an operating profit of €2.5 million, which is 9.8% of the total revenue, down from 16.0% in the first half of 2023. The financial result for the first half of 2024 was a charge of -€0.3 million, with a tax expense of -€0.1 million. The net consolidated profit for the group showed a slight decrease to €2.2 million from €2.4 million in the previous year.

The group's equity rose to €43.6 million by June 30, 2024, from €41.9 million at the end of December 2023. The company saw a €2.9 million operational cash flow, with financing cash flow at -€2.6 million, largely due to loan repayments. Consequently, there was a reduction in cash by €1.8 million over the period.

Baikowski® maintains a favorable long-term outlook, aligning with trends in energy transition projects and expects significant revenue growth in 2024. Transactions with related parties, such as Baikowski® Japan Corporation and Baikowski® Korea, continued at market rates.