Annual Report 2025
Progress with a Clear Direction
Five years, five annual reports – and looking back today, one thing becomes especially clear:
we have evolved significantly.
Over the past years, we have transformed from a broadly diversified company into a clearly focused aerospace supplier – a pure aerospace player. Today, our group is fully focused on aerospace - a milestone that clearly strengthened our strategic profile and financial resilience.
Today we publish and present our strong full-year results for 2025: our revenue increased by 15%, while adj. EBITDA* rose by 25,1%.
These strong results are supported by your daily contribution: consistent execution, increased efficiency, and strong collaboration across the entire value chain.
Financial Highlights 2025
Today, we are closer to our customers, more deeply integrated into their processes, and a reliable partner to leading aerospace companies. At the same time, we are built on a solid financial foundation. Our net debt to EBITDA ratio is below 1x, and by the end of 2026, we expect to achieve a net cash position.*
This gives us the flexibility to actively shape our growth – organically through business expansion, as well as through targeted acquisitions when the right opportunities arise.
For 2026, our direction is clear:
we are planning for revenues exceeding €1 billion and adjusted EBITDA of more than €185 million. We also see further potential for 2027, targeting approximately €1.1 billion in revenue and adjusted EBITDA of over €210 million.
Our Strategy:
Taking Control. Creating Stability.
A key pillar of our strategy remains vertical integration – further expanding our value chain from raw material to ready-to-install components. This gives us greater control over processes, quality, and delivery capability.
Especially in an environment of fragile supply chains, volatile prices, and long lead times, this is a decisive advantage – for us and for our customers. At the same time, we continue to strengthen our operations by improving supply chain stability, ensuring better material availability, and efficiency to increasing in-house value creation.
We are also well positioned externally. Our “local-for-local” approach, with production sites in the United States, Central and Eastern Europe, and Asia, helps mitigate the impact of tariffs. In addition, our energy hedging strategy* helps to protect us against energy price volatility.
Responsibility Remains Part of Our Success
Beyond financial performance, 2025 has also demonstrated something else clearly: we have further strengthened our sense of responsibility – towards you, our employees, our partners, and the environment.
For us, ESG is not a standalone initiative, but part of our daily work. It is reflected in clear targets, concrete measures, and transparent reporting. Over the past two years, we have made measurable progress in this area. Even in a challenging geopolitical environment, we remain committed to our path – step by step, realistic and actionable.
You Are a Key Part of Our Success
A central driver of this positive development is our joint work in the area of “People and Organization.” Our progress is not only based on numbers – but above all on the people who contribute every day with commitment, expertise, and team spirit.
In 2025, we consistently advanced and strengthened our four HR priorities:
Strategic workforce planning to build the capabilities needed for long-term competitiveness
Talent management, with a stronger focus on internal development and nurturing the next generation of experts and leaders
Job architecture and compensation strategy to create greater clarity, fairness, and comparability across roles and locations
Employer branding to further position ourselves as an innovative and purpose-driven employer in the aerospace sector
All these topics form the foundation for our future growth.
Looking ahead to 2026, our main focus will be on ramping up our production sites and fully utilizing existing capacities. Global demand in aerospace continues to grow – and to seize these opportunities, we need one thing above all: skilled, committed, and motivated people who bring precision, passion, and perseverance to their work.
*Financial terms explained simple
EBITDA
Simply put, EBITDA shows how profitable our business is before paying for interest, taxes and non-cash costs like depreciation.
EBITDA margin (%): shows how much profit we generate per euro of sales and makes profitability comparable across years. In simple terms: how much remains from €1 of sales.
Net Debt means how much debt is left after subtracting cash.
Net Cash or Dept Position
Net cash position = we have more cash than debt
Net debt position = we have more debt than cash
Energy hedging strategy
It’s about securing energy costs at an early stage. This means: We don’t buy electricity or gas only when we need it, but instead fix prices in advance.
Thank you.
Behind every milestone achieved, every component delivered, and every improvement made stands your contribution. Your expertise, your commitment, and your collaboration make our success possible.
On behalf of the Montana Aerospace Group Management Board: THANK YOU!
Your dedication made 2025 a successful year – and it will continue to shape our future.