FTG Announces Q1 2025 Financial Results
April 10, 2025 | Firan Technology Group CorporationEstimated reading time: 2 minutes
Firan Technology Group Corporation announced financial results for first quarter of 2025.
First Quarter Financial Highlights:
- Bookings: Total bookings reached $51.5 million, marking a 37% increase over Q1 2024.
- Backlog: The quarter-end backlog stood at $142.5 million, a 43% rise from the previous year.
- Revenue: Reached $42.9 million, a 22.6% increase over Q1 2024.
- Adjusted EBITDA: Recorded at $8.4 million, up from $4.6 million in Q1 2024.
- Adjusted Net Earnings: Rose by 214% to $3.3 million.
- Net Debt: Maintained a strong balance sheet with net debt of $8.3 million, including $13.6 million of government loans, after $6.6 million in investments in Q1 2025.
- Operating Cash Flow Less Lease Payments: Generated operating cash flow less lease payments of $9.3M in Q1 2025.
Business Highlights:
In Q1 2025, the Corporation grew through acquisition and organically. FTG is strategically investing its capital in ways that will drive increased shareholder returns for the future in both the near term and long term. The company's achievements in Q1 2025 demonstrate this commitment, laying a strong foundation for future growth.
FLYHT Acquisition: In Q1 2025, FTG acquired FLYHT Aerospace Solutions Ltd., enhancing FTG’s presence in the commercial aerospace aftermarket and expanding its product offerings on Airbus aircraft. This acquisition aligns with FTG's strategic priorities, and plans include ramping up sales of FLYHT’s product lines and insourcing manufacturing to other FTG sites.
De Havilland Contract: Also during Q1 2025, FTG announced that De Havilland Aircraft of Canada Ltd. has selected FTG to provide updated cockpit control assemblies for the new De Havilland Canadair 515 (DHC-515) aerial firefighting aircraft.
New Facility: FTG announced plans to open an Aerospace facility in Hyderabad, India, to support strategic growth and expand market presence.
Banking Agreement: Completed a new three-year banking agreement with BMO Corporate Finance, providing improved flexibility and reduced costs to support growth and corporate development objectives.
Leadership Announcements: Bill Sezate has joined the Corporation as Executive Vice President, FTG Circuits reporting to Brad Bourne. Bill comes to FTG with extensive experience in all aspects in the circuit board industry. In addition, Marko Viinikka is joining the Corporation in a newly created role as Executive Vice President, FTG Aerospace reporting to Brad Bourne. Marko comes to FTG with extensive experience in all aspects of the Aerospace industry.
CEO Commentary:
“Our first quarter was a great start to 2025,” stated Brad Bourne, President and CEO of FTG. “All metrics in the quarter were positive from bookings, to sales, to margins, to net income and cash flow, showing that our investments in technology, operational performance and our acquisitions are all helping to position us for success. We are seeing strong end market demand and the current situation from tariffs levied by the US does not appear to have any direct impact on us.”
Suggested Items
SEMI Reports Typical Q1 2025 Semiconductor Seasonality with Potential for Atypical Shifts Due to Tariff Uncertainty
05/19/2025 | SEMIAccording to the Q1 2025 Semiconductor Manufacturing Monitor (SMM) Report released by SEMI in collaboration with TechInsights, the global semiconductor manufacturing industry entered 2025 with typical seasonal patterns.
NEDME 2025 Announces Diverse and Distinguished Speaker Lineup
05/19/2025 | ASC SunstoneThe Northwest Electronics Design & Manufacturing Expo (NEDME) is thrilled to announce the impressive speaker lineup for the upcoming 2025 event. Taking place on Wednesday, October 22, 2025, at the Wingspan Event & Conference Center in Hillsboro, Oregon, NEDME 2025 will feature a dynamic array of thought leaders from across the electronics design and manufacturing sectors.
Flexible PCB Market to Reach $61.75B by 2032, Driven by the Demand for Compact Electronics, Automotive and Medical Applications
05/16/2025 | Globe NewswireAccording to the SNS Insider, “The Flexible PCB Market was valued at USD 21.42 billion in 2023 and is expected to reach $61.75 billion by 2032, growing at a CAGR of 12.52% over the forecast period 2024-2032.”
The ICAPE Group Announces a 13% Growth in Revenue to €51.1M for Q1 2025
05/15/2025 | ICAPE GroupThe ICAPE Group, a global technology distributor of printed circuit boards (PCB) and custom-made electromechanical parts, announced its sales for the first quarter of 2025.
Interlink Electronics Reports Q1 2025 Result
05/15/2025 | BUSINESS WIREInterlink Electronics, Inc., a global leader in sensor technology and printed electronic solutions, reported results for the first quarter ended March 31, 2025.