Baikowski Reports 13.4% Revenue Growth in First Half of 2024

Baikowski, a producer of specialty industrial minerals, has announced its financial results for the first half of 2024. The company posted a 13.4% year-over-year increase in revenue, reaching €26.0 million. Net income for the group stood at €2.2 million, indicating a marked improvement from the second half of 2023.

The firm’s net financial debt was 18.5% of shareholders’ equity as of June 30, 2024. Baikowski's CEO, Benoît Grenot, expressed confidence in maintaining growth and enhancing profitability for the second half of the year.

Key developments in the period include a rebound in demand in the electronics market and continued solid performance in automotive and aerospace sectors. The company also advanced its innovation strategy, notably being recognized as a France 2030 Plan Winner for its efforts in decarbonizing alumina production.

Despite overall revenue growth, Baikowski saw a drop in EBITDA by 26.7% to €4.1 million, primarily due to yen depreciation. However, the company's financial structure remained sound, with a positive cash position of €5.3 million at the end of June 2024.