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
Advancements in High-reliability Alloys for Automotive and High-performance Applications
05/22/2025 | Barry Matties, I-Connect007At IPC APEX EXPO, MacDermid Alpha Electronic Solutions showcased its latest innovations in SMT assembly materials designed to meet the growing demands for reliability and sustainability in automotive and high-performance applications. In this interview, Ebad Rehman, business product manager, discusses the evolution of high-reliability alloys, spotlighting ALPHA Innolot, a proven solution developed in response to the automotive industry’s increasing expectations for durability and performance under harsh operating conditions.
Zuken Launches CR-8000 2025 with AI-Enhanced Support for High-Speed, High-Density PCB Design
05/21/2025 | ZukenZuken, a global leader in electronic design automation (EDA) solutions, has announced the release of the 2025 updates to its flagship PCB design applications, CR-8000 Design Gateway and Design Force.
Incap Helps Develop Future Talent in Robotics and Engineering in Finland
05/21/2025 | IncapIncap Corporation continues to invest in the next generation of technology professionals in Finland through its involvement in two national initiatives focused on technical and vocational education.
SEMICON Southeast Asia 2025 Mega Show Opens in Singapore with Top Global C-suite Executives at Inaugural CEO Summit
05/21/2025 | SEMISEMICON Southeast Asia (SEA) 2025, the region’s flagship global electronics manufacturing and semiconductor supply chain event, officially opened today at the Sands Expo and Convention Centre, Marina Bay Sands, Singapore.
SMTA Symposium on Counterfeit Parts & Materials Program Finalized
05/21/2025 | SMTAThe SMTA is pleased to announce the technical program for the Symposium on Counterfeit Parts & Materials. Co-organized by SMTA and the Center for Advanced Life Cycle Engineering (CALCE), the event will be held June 24-26, 2025 in Hyattsville, Maryland at the College Park Marriott Conference Center.