TAT Technologies Grows Revenue by 34%, Net Income by 139%, and Adjusted EBITDA by 67% for the full year of 2024
TAT Technologies (NASDAQ: TATT) reported strong financial results for the full year 2024, marking its ninth consecutive quarter of revenue growth. Revenue increased 34% to $152.1 million, while net income surged 139% to $11.2 million ($1.0 per diluted share). The company's gross profit grew 47% to $33 million, representing 21.7% of revenue, and Adjusted EBITDA rose 67% to $18.6 million.
The company secured new contracts worth $47 million in Q4, pushing its backlog to a record $429 million. TAT successfully raised $10 million through an overnight capital raise, and its share price increased by 153% in 2024. However, operational cash flow turned negative at ($5.8) million, primarily due to strategic inventory investments to mitigate supply chain risks.
Looking ahead to 2025, TAT launched its 'Customer First' initiative and plans to implement operational efficiency improvements. The company maintains an optimistic outlook while addressing ongoing industry supply chain challenges.
TAT Technologies (NASDAQ: TATT) ha riportato risultati finanziari solidi per l'intero anno 2024, segnando il nono trimestre consecutivo di crescita dei ricavi. I ricavi sono aumentati del 34% raggiungendo i 152,1 milioni di dollari, mentre l'utile netto è schizzato in su del 139% a 11,2 milioni di dollari (1,0 dollari per azione diluita). Il profitto lordo dell'azienda è cresciuto del 47% fino a 33 milioni di dollari, rappresentando il 21,7% dei ricavi, e l'EBITDA rettificato è aumentato del 67% a 18,6 milioni di dollari.
L'azienda ha ottenuto nuovi contratti del valore di 47 milioni di dollari nel quarto trimestre, portando il suo portafoglio ordini a un record di 429 milioni di dollari. TAT ha raccolto con successo 10 milioni di dollari tramite un aumento di capitale notturno, e il prezzo delle sue azioni è aumentato del 153% nel 2024. Tuttavia, il flusso di cassa operativo è diventato negativo a ($5,8) milioni, principalmente a causa di investimenti strategici in inventario per mitigare i rischi della catena di approvvigionamento.
Guardando al 2025, TAT ha lanciato la sua iniziativa 'Customer First' e prevede di attuare miglioramenti nell'efficienza operativa. L'azienda mantiene un'ottica ottimistica mentre affronta le sfide attuali della catena di approvvigionamento del settore.
TAT Technologies (NASDAQ: TATT) reportó resultados financieros sólidos para el año completo 2024, marcando su noveno trimestre consecutivo de crecimiento en los ingresos. Los ingresos aumentaron un 34% alcanzando los 152,1 millones de dólares, mientras que la utilidad neta se disparó un 139% a 11,2 millones de dólares (1,0 dólares por acción diluida). El beneficio bruto de la empresa creció un 47% hasta los 33 millones de dólares, representando el 21,7% de los ingresos, y el EBITDA ajustado aumentó un 67% a 18,6 millones de dólares.
La empresa aseguró nuevos contratos por un valor de 47 millones de dólares en el cuarto trimestre, aumentando su cartera de pedidos a un récord de 429 millones de dólares. TAT recaudó con éxito 10 millones de dólares a través de una recaudación de capital nocturna, y el precio de sus acciones aumentó un 153% en 2024. Sin embargo, el flujo de efectivo operativo se volvió negativo en ($5,8) millones, principalmente debido a inversiones estratégicas en inventario para mitigar los riesgos de la cadena de suministro.
De cara a 2025, TAT lanzó su iniciativa 'Customer First' y planea implementar mejoras en la eficiencia operativa. La empresa mantiene una perspectiva optimista mientras aborda los desafíos actuales de la cadena de suministro en la industria.
TAT Technologies (NASDAQ: TATT)는 2024년 전체 연도에 대한 강력한 재무 결과를 보고하며, 아홉 번째 연속 분기 매출 성장을 기록했습니다. 매출은 34% 증가하여 1억 5210만 달러에 달했으며, 순이익은 139% 급증하여 1120만 달러(희석 주당 1.0달러)에 이르렀습니다. 회사의 총 이익은 47% 증가하여 3300만 달러에 이르렀고, 이는 매출의 21.7%를 차지하며, 조정 EBITDA는 67% 상승하여 1860만 달러에 달했습니다.
회사는 4분기에 4700만 달러 상당의 새로운 계약을 체결하여 백로그를 기록적인 4억 2900만 달러로 끌어올렸습니다. TAT는 하룻밤 자본 조달을 통해 1000만 달러를 성공적으로 모금했으며, 2024년 동안 주가가 153% 상승했습니다. 그러나 운영 현금 흐름은 (-580만 달러)로 부정적으로 전환되었으며, 이는 주로 공급망 위험을 완화하기 위한 전략적 재고 투자 때문입니다.
2025년을 바라보며, TAT는 'Customer First' 이니셔티브를 시작했으며 운영 효율성 개선을 계획하고 있습니다. 회사는 현재 산업 공급망의 도전 과제를 해결하면서도 낙관적인 전망을 유지하고 있습니다.
TAT Technologies (NASDAQ: TATT) a annoncé des résultats financiers solides pour l'année complète 2024, marquant son neuvième trimestre consécutif de croissance des revenus. Les revenus ont augmenté de 34% pour atteindre 152,1 millions de dollars, tandis que le bénéfice net a bondi de 139% à 11,2 millions de dollars (1,0 dollar par action diluée). Le bénéfice brut de l'entreprise a crû de 47% pour atteindre 33 millions de dollars, représentant 21,7% des revenus, et l'EBITDA ajusté a augmenté de 67% pour atteindre 18,6 millions de dollars.
L'entreprise a sécurisé de nouveaux contrats d'une valeur de 47 millions de dollars au quatrième trimestre, portant son carnet de commandes à un niveau record de 429 millions de dollars. TAT a réussi à lever 10 millions de dollars grâce à une augmentation de capital nocturne, et le prix de ses actions a augmenté de 153% en 2024. Cependant, le flux de trésorerie opérationnel est devenu négatif à (-5,8) millions de dollars, principalement en raison d'investissements stratégiques dans les stocks pour atténuer les risques de la chaîne d'approvisionnement.
En regardant vers 2025, TAT a lancé son initiative 'Customer First' et prévoit de mettre en œuvre des améliorations de l'efficacité opérationnelle. L'entreprise maintient une perspective optimiste tout en abordant les défis actuels de la chaîne d'approvisionnement de l'industrie.
TAT Technologies (NASDAQ: TATT) hat für das gesamte Jahr 2024 starke Finanzzahlen gemeldet und damit das neunte aufeinanderfolgende Quartal mit Umsatzwachstum erreicht. Der Umsatz stieg um 34% auf 152,1 Millionen Dollar, während der Nettogewinn um 139% auf 11,2 Millionen Dollar (1,0 Dollar pro verwässerter Aktie) anstieg. Der Bruttogewinn des Unternehmens wuchs um 47% auf 33 Millionen Dollar, was 21,7% des Umsatzes entspricht, und das bereinigte EBITDA stieg um 67% auf 18,6 Millionen Dollar.
Das Unternehmen sicherte sich im vierten Quartal neue Aufträge im Wert von 47 Millionen Dollar, wodurch der Auftragsbestand auf einen Rekord von 429 Millionen Dollar anstieg. TAT konnte erfolgreich 10 Millionen Dollar durch eine nächtliche Kapitalerhöhung einwerben, und der Aktienkurs stieg im Jahr 2024 um 153%. Der operative Cashflow wurde jedoch negativ und betrug (-5,8) Millionen Dollar, hauptsächlich aufgrund strategischer Investitionen in Lagerbestände zur Minderung von Risiken in der Lieferkette.
Für 2025 hat TAT die Initiative 'Customer First' ins Leben gerufen und plant, Verbesserungen der Betriebseffizienz umzusetzen. Das Unternehmen bleibt optimistisch, während es die laufenden Herausforderungen in der Lieferkette der Branche angeht.
- Revenue growth of 34% to $152.1 million
- Net income surge of 139% to $11.2 million
- Gross profit increase of 47% to $33 million
- Record high backlog of $429 million
- Share price appreciation of 153%
- Successful $10 million capital raise
- Nine consecutive quarters of revenue growth
- Negative operational cash flow of $5.8 million
- Ongoing supply chain challenges
- Strategic inventory buildup impacting cash flow
Insights
TAT Technologies' 2024 financial results showcase exceptional growth across key metrics, with
The negative operational cash flow of
The company's record
TAT's strategically diversified business model across four aerospace segments - OEM heat transfer solutions, MRO services for heat transfer components, MRO services for aviation components, and jet engine component overhaul - positions them uniquely in the aerospace supply chain. Their focus on critical systems maintenance creates resilience against industry fluctuations.
The company's proactive inventory management strategy addressing persistent aerospace supply chain disruptions shows foresight. Aerospace OEMs and airlines continue facing parts shortages and delivery delays, making suppliers with available inventory particularly valuable. The "Customer First" initiative for 2025 directly addresses a pain point in the current market where service quality has suffered industrywide.
TAT's exposure to both commercial and military aerospace markets creates balanced revenue opportunities. Commercial aviation continues its recovery trajectory while defense spending remains robust. The
The efficiency initiatives mentioned for 2025 suggest management is focusing on operational improvements rather than just riding industry tailwinds. This combination of revenue growth, margin expansion, and operational discipline positions TAT favorably compared to many aerospace suppliers that have struggled with post-pandemic production ramp-ups.
Company Delivers 9th Consecutive Quarter of Expanding Revenues
NETANYA,
Financial Highlights for the 12 Months Ended December 31, 2024:
- Revenue increased by
34% to$152.1 million $113.8 million - Gross profit increased by
47% to$33 million 21.7% of revenue) up from$22.5 million 19.7% of revenues) in the prior year. - Net lncome increased by
139% to$11.2 million $1.0 $4.7 million $0.51 - Adjusted EBITDA increased by
67% to$18.6 million $11.1 million - Cash flow from operations was negative
( compared to a positive$5.8) million $2.3 million
Mr. Igal Zamir, CEO and President of TAT Technologies commented: "TAT Technologies continues to deliver solid execution, marking our ninth consecutive quarter of revenue growth and improved profitability. This positive momentum reflects the early impact of the strategic growth engines introduced over the past years, which we believe will continue to drive our results in the years ahead."
"In the fourth quarter, we launched our strategic 'Customer First' initiative, which is our key goal for 2025," continued Mr. Zamir. "Our commitment is to deliver exceptional customer service and best-in-class performance, even as the industry continues to face supply chain challenges. As part of this effort, we strategically increased our parts and rotatable inventory in areas where the supply chain is unstable, anticipating continued revenue growth in 2025. While this investment in inventory had a negative effect on our operational cash flow, it positions us to mitigate supply chain risks as we move forward".
"Also in the fourth quarter, TAT won contracts and new orders totaling
"In 2024, we expanded our engagement with the US and Israeli investors community, which contributed to a successful
Non-GAAP Financial Measures
To supplement the consolidated financial statements presented in accordance with GAAP, the Company also presents Adjusted EBITDA. The adjustments to the Company's GAAP results are made with the intent of providing both management and investors a more complete understanding of the Company's underlying operational results, trends and performance. Adjusted EBITDA is calculated as net income excluding the impact of: the Company's share in results of affiliated companies, share-based compensation, taxes on income, financial (expenses) income, net, and depreciation and amortization. Adjusted EBITDA, however, should not be considered as alternative to net income and operating income for the period and may not be indicative of the historic operating results of the Company; nor it is meant to be predictive of potential future results. Adjusted EBITDA is not measure of financial performance under generally accepted accounting principles and may not be comparable to other similarly titled measures for other companies. See reconciliation of Adjusted EBITDA in pages 13 below.
Investor Call Information
TAT Technologies will host two webcasts to review its financial results and provide a business update, on Thursday, March 27, 2025, at 7:30 a.m. ET a call in Hebrew, followed by an additional call at 8:30 a.m. ET in English. Interested investors can register for the webcast at the links below or visit the investor relations section of the Company's website at https://tat-technologies.com/investors/.
About TAT Technologies LTD
TAT Technologies Ltd. is a leading provider of services and products to the commercial and military aerospace and ground defense industries. TAT operates under four segments: (i) Original equipment manufacturing ("OEM") of heat transfer solutions and aviation accessories through its Gedera facility; (ii) MRO services for heat transfer components and OEM of heat transfer solutions through its Limco subsidiary; (iii) MRO services for aviation components through its Piedmont subsidiary; and (iv) Overhaul and coating of jet engine components through its Turbochrome subsidiary. TAT controlling shareholders is the FIMI Private Equity Fund.
TAT's activities in the area of OEM of heat transfer solutions and aviation accessories primarily include the design, development and manufacture of (i) broad range of heat transfer solutions, such as pre-coolers heat exchangers and oil/fuel hydraulic heat exchangers, used in mechanical and electronic systems on board commercial, military and business aircraft; (ii) environmental control and power electronics cooling systems installed on board aircraft in and ground applications; and (iii) a variety of other mechanical aircraft accessories and systems such as pumps, valves, and turbine power units.
TAT's activities in the area of MRO Services for heat transfer components and OEM of heat transfer solutions primarily include the MRO of heat transfer components and to a lesser extent, the manufacturing of certain heat transfer solutions. TAT's Limco subsidiary operates an FAA-certified repair station, which provides heat transfer MRO services for airlines, air cargo carriers, maintenance service centers and the military.
TAT's activities in the area of MRO services for aviation components include the MRO of APUs, landing gears and other aircraft components. TAT's Piedmont subsidiary operates an FAA-certified repair station, which provides aircraft component MRO services for airlines, air cargo carriers, maintenance service centers and the military.
TAT's activities in the area of overhaul and coating of jet engine components includes the overhaul and coating of jet engine components, including turbine vanes and blades, fan blades, variable inlet guide vanes and afterburner flaps.
For more information of TAT Technologies Ltd., please visit our website: www.tat-technologies.com
Contact:
Mr. Eran Yunger
Director of IR
erany@tat-technologies.com
TAT TECHNOLOGIES LTD. CONSOLIDATED BALANCE SHEETS | |||||
December 31, | |||||
2024 | 2023 | ||||
ASSETS | |||||
CURRENT ASSETS: | |||||
Cash and cash equivalents | $ 7,129 | $ 15,979 | |||
Accounts receivable, net of allowance for credit losses of | 29,697 | 20,009 | |||
Restricted deposit | - | 661 | |||
Other current assets and prepaid expenses | 7,848 | 6,397 | |||
Inventory | 68,540 | 51,280 | |||
Total current assets | 113,214 | 94,326 | |||
NON-CURRENT ASSETS: | |||||
Restricted deposit | 305 | 302 | |||
Investment in affiliates | 2,901 | 2,168 | |||
Funds in respect of employee rights upon retirement | 654 | 664 | |||
Deferred income taxes | 877 | 994 | |||
Property, plant and equipment, net | 41,576 | 42,554 | |||
Operating lease right of use assets | 2,282 | 2,746 | |||
Intangible assets, net | 1,553 | 1,823 | |||
Total non-current assets | 50,148 | 51,251 | |||
Total assets | 163,362 | 145,577 | |||
TAT TECHNOLOGIES LTD. CONSOLIDATED BALANCE SHEETS | ||||||
December 31, | ||||||
2024 | 2023 | |||||
LIABILITIES AND SHAREHOLDERS 'EQUITY | ||||||
CURRENT LIABILITIES: | ||||||
Current maturities of long-term loans | $ 2,083 | $ 2,200 | ||||
Short term loans | 4,350 | 12,138 | ||||
Accounts payable | 12,158 | 9,988 | ||||
Accrued expenses and other | 18,594 | 13,952 | ||||
Current maturities of operating lease liabilities | 939 | 1,033 | ||||
Total current liabilities | 38,124 | 39,311 | ||||
NON-CURRENT LIABILITIES: | ||||||
Long-term loans | 10,938 | 12,886 | ||||
Liability in respect of employee rights upon retirement | 986 | 1,000 | ||||
Operating lease liabilities | 1,345 | 1,697 | ||||
Total non-current liabilities | 13,269 | 15,583 | ||||
COMMITMENTS AND CONTINGENCIES (NOTE 11) | ||||||
Total liabilities | 51,393 | 54,894 | ||||
SHAREHOLDERS 'EQUITY: | ||||||
Ordinary shares of Authorized: 13,000,000 shares at December 31, 2024 | - | 3,140 | ||||
Additional paid-in capital | 89,697 | 76,335 | ||||
Treasury shares, at cost, 274,473 shares at | (2,088) | (2,088) | ||||
Accumulated other comprehensive income | (76) | 27 | ||||
Retained earnings | 24,436 | 13,269 | ||||
Total shareholders' equity | 111,969 | 90,683 | ||||
Total liabilities and shareholders' equity | 163,362 | 145,577 | ||||
TAT TECHNOLOGIES LTD. | ||||||||||||
CONSOLIDATED STATEMENTS OF OPERATIONS | ||||||||||||
Year ended December 31, | ||||||||||||
2024 | 2023 | 2022 | ||||||||||
Revenue: | ||||||||||||
Products | $ 47,710 | $ 35,241 | $ 25,460 | |||||||||
Services | 104,406 | 78,553 | 59,096 | |||||||||
152,116 | 113,794 | 84,556 | ||||||||||
Cost of revenue, net: | ||||||||||||
Products | 33,986 | 30,517 | 21,631 | |||||||||
Services | 85,116 | 60,809 | 46,997 | |||||||||
119,102 | 91,326 | 68,628 | ||||||||||
Gross profit | 33,014 | 22,468 | 15,928 | |||||||||
Operating expenses: | ||||||||||||
Research and development, net | 1,248 | 715 | 479 | |||||||||
Selling and marketing, net | 7,746 | 5,523 | 5,629 | |||||||||
General and administrative, net | 11,901 | 10,588 | 9,970 | |||||||||
Other income | (383) | (433) | (90) | |||||||||
Restructuring expenses, net | - | 1,715 | ||||||||||
20,512 | 16,393 | 17,703 | ||||||||||
Operating income (loss) | 12,502 | 6,075 | (1,775) | |||||||||
Interest expenses | (1,472) | (1,683) | (902) | |||||||||
Other financial income (expenses), net | (477) | 353 | 1,029 | |||||||||
Income profit (loss) before taxes on income | 10,553 | 4,745 | (1,648) | |||||||||
Taxes on income | 195 | 576 | 98 | |||||||||
Profit (Loss) before share of equity investment | 10,358 | 4,169 | (1,746) | |||||||||
Share in profit of equity investment of affiliated companies | 809 | 503 | 184 | |||||||||
Net income (loss) | $ 11,167 | $ 4,672 | $ (1,562) | |||||||||
TAT TECHNOLOGIES LTD. AND ITS SUBSIDIARIES | |||||||||
CONSOLIDATED STATEMENTS OF OPERATIONS | |||||||||
Year ended December 31, | |||||||||
2024 | 2023 | 2022 | |||||||
Net income (loss) | $ 11,167 | $ 4,672 | $ (1,562) | ||||||
Net income (loss) per share basic | $ 1.08 | $ 0.52 | $ (0.175) | ||||||
Net income (loss) per share diluted | $ 1.00 | $ 0.51 | $ (0.175) | ||||||
Weighted average number of shares outstanding: | 10,363,978 | 8,961,689 | 8,911,546 | ||||||
Basic Diluted | 11,215,827 | 9,084,022 | 8,911,546 | ||||||
TAT TECHNOLOGIES LTD. AND ITS SUBSIDIARIES CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) | ||||||||||
Year ended December 31, | ||||||||||
2024 | 2023 | 2022 | ||||||||
Net income (loss) | $ 11,167 | $ 4,672 | $ (1,562) | |||||||
Other comprehensive income (loss), net | ||||||||||
Net unrealized gains (losses) from derivatives | (27) | 53 | (89) | |||||||
Change in foreign currency translation Adjustments | (76) | - | - | |||||||
Reclassification adjustments for loss from derivatives included in net income | - | - | 30 | |||||||
Total other comprehensive income (loss) | (103) | 53 | (59) | |||||||
Total comprehensive income (loss) | $ 11,064 | $ 4,725 | $ (1,621) | |||||||
TAT TECHNOLOGIES LTD. AND ITS SUBSIDIARIES CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS EQUITY | |||||||||||||||||||||||
Ordinary shares | |||||||||||||||||||||||
Number of | Amount | Additional | Accumulated | Treasury | Retained | Total equity | |||||||||||||||||
BALANCE AT DECEMBER 31, 2021 | 9,149,169 | $ 2,809 | $ 65,871 | $ 33 | $ (2,088) | $ 10,159 | $ 76,784 | ||||||||||||||||
CHANGES DURING THE YEAR ENDED DECEMBER 31, 2022: | |||||||||||||||||||||||
Comprehensive income | (59) | - | (1,562) | (1,621) | |||||||||||||||||||
Exercise of Options | 36,850 | 33 | 156 | 189 | |||||||||||||||||||
Share based compensation | 218 | 218 | |||||||||||||||||||||
BALANCE AT DECEMBER 31, 2022 | 9,186,019 | $ 2,842 | $ 66,245 | $ (26) | $ (2,088) | $ 8,597 | $ 75,570 | ||||||||||||||||
CHANGES DURING THE YEAR ENDED DECEMBER 31, 2023: | |||||||||||||||||||||||
Comprehensive income | - | - | - | 53 | - | 4,672 | 4,725 | ||||||||||||||||
Exercise of Options | 32,466 | 8 | 157 | - | - | 165 | |||||||||||||||||
Issuance of common shares net of issuance costs of | 1,158,600 | 290 | 9,774 | - | - | 10,064 | |||||||||||||||||
Share based compensation | 159 | - | - | 159 | |||||||||||||||||||
BALANCE AT DECEMBER 31, 2023 | 10,377,085 | $ 3,140 | $ 76,335 | $ 27 | $ (2,088) | $ 13,269 | $ 90,683 | ||||||||||||||||
CHANGES DURING THE YEAR ENDED DECEMBER 31, 2024: | |||||||||||||||||||||||
Comprehensive income(loss) | - | - | - | (103) | - | 11,167 | 11,064 | ||||||||||||||||
Exercise of Options | 164,406 | 12 | (12) | - | - | - | - | ||||||||||||||||
Cancel of shares par value )see note 12a( | (3,152) | 3,152 | - | - | - | - | |||||||||||||||||
Issuance of common shares net of issuance costs of | 673,340 | - | 9,827 | - | - | - | 9,827 | ||||||||||||||||
Share based compensation | - | 395 | - | - | - | 395 | |||||||||||||||||
BALANCE AT DECEMBER 31, 2024 | 11,214,831 | - | $ 89,697 | $ (76) | $ (2,088) | $ 24,436 | $ 111,969 | ||||||||||||||||
TAT TECHNOLOGIES LTD. AND ITS SUBSIDIARIES | ||||||
CONSOLIDATED STATEMENTS OF CASH FLOWS | ||||||
Year ended December 31, | ||||||
2024 | 2023 | 2022 | ||||
CASH FLOWS FROM OPERATING ACTIVITIES: | ||||||
Net income (loss) | $ 11,167 | $ 4,672 | $ (1,562) | |||
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: | ||||||
Depreciation and amortization | 5,455 | 4,710 | 3,706 | |||
Loss (gain) from change in fair value of derivatives | 22 | (9) | 8 | |||
Change in funds in respect of employee rights upon retirement | 10 | 116 | 377 | |||
Net change in operating right of use asset and operating lease liability | 18 | 22 | (82) | |||
Non cash financial expenses | (187) | (172) | (902) | |||
Decrease in restructuring plan provision | (63) | (126) | (467) | |||
Change in allowance for credit losses | 55 | (182) | 138 | |||
Share in results of affiliated companies | (809) | (503) | (184) | |||
Share based compensation | 395 | 159 | 218 | |||
Liability in respect of employee rights upon retirement | (14) | (148) | (356) | |||
Capital gain from sale of property, plant and equipment | (478) | (530) | (90) | |||
Deferred income taxes, net | 117 | 235 | 23 | |||
Changes in operating assets and liabilities: | ||||||
Increase in trade accounts receivable | (9,743) | (4,205) | (2,659) | |||
Increase in other current assets and prepaid expenses | (1,473) | (341) | (1,836) | |||
Increase in inventory | (17,165) | (5,400) | (5,069) | |||
Increase (decrease) in trade accounts payable | 2,170 | (245) | 1,143 | |||
Increase in accrued expenses and other | 4,705 | 4,202 | 2,727 | |||
Net cash provided by (used in) operating activities from continued operation | $ (5,818) | $ 2,255 | $ (4,867) | |||
CASH FLOWS FROM INVESTING ACTIVITIES: | ||||||
Proceeds from sale of property and equipment | 1,275 | 2,002 | 93 | |||
Purchase of property and equipment | (5,126) | (5,102) | (16,213) | |||
Purchase of intangible assets | - | (479) | - | |||
Net cash used in investing activities from continued operations | $ (3,851) | $ (3,579) | $ (16,120) | |||
TAT TECHNOLOGIES LTD. AND ITS SUBSIDIARIES RECONCILIATION OF NET INCOME TO ADJUSTED EBITDA (NON-GAAP) (UNAUDITED) | ||||||||||||
Year ended December 31, | ||||||||||||
2024 | 2023 | 2022 | ||||||||||
CASH FLOWS FROM FINANCING ACTIVITIES: | ||||||||||||
Repayments of long-term loans | (2,016) | (1,701) | (1,071) | |||||||||
Net change in short term credit from banks | (7,650) | 1,000 | - | |||||||||
Proceeds from long-term loans received | - | 712 | 16,680 | |||||||||
Proceeds from issuance of common shares, net | 9,827 | 10,064 | - | |||||||||
Exercise of options | - | 165 | 189 | |||||||||
Net cash provided by financing activities from continued operations | $ 161 | $ 10,240 | $ 15,798 | |||||||||
Net increase (decrease) in cash and cash equivalents and restricted cash | (9,508) | 8,916 | (5,189) | |||||||||
Cash and cash equivalents and restricted cash at beginning of period | 16,942 | 8,026 | 13,215 | |||||||||
Cash and cash equivalents and restricted cash at end of period | 7,434 | 16,942 | 8,026 | |||||||||
SUPPLEMENTARY INFORMATION ON INVESTING ACTIVITIES NOT INVOLVING CASH FLOW: | ||||||||||||
Purchase of property, plant and equipment on credit | - | - | 196 | |||||||||
Additions of operating lease right-of-use assets and operating lease liabilities | 983 | 1,345 | 318 | |||||||||
Reclassification of inventory to property, plant and equipment | 155 | 68 | 284 | |||||||||
Capital contribution to equity method investee | - | - | 787 | |||||||||
Supplemental disclosure of cash flow information: | ||||||||||||
Interest paid | (1,400) | (1,438) | (796) | |||||||||
Income taxes received (paid), net | $ (39) | $ - | $ - | |||||||||
TAT TECHNOLOGIES LTD. AND ITS SUBSIDIARIES RECONCILIATION OF NET INCOME TO ADJUSTED EBITDA (NON-GAAP) (UNAUDITED) | |||
Year ended | |||
December 31, | |||
2024 | 2023 | ||
Net income | |||
Adjustments: | |||
Share in results and sale of equity | |||
investment of affiliated companies | (809) | (503) | |
Taxes on income (tax benefit) | 195 | 576 | |
Financial expenses (income), net | 1,949 | 1,330 | |
Depreciation and amortization | 5,717 | 4,902 | |
Share based compensation | 395 | 159 | |
Adjusted EBITDA | |||
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
TAT TECHNOLOGIES LTD.
(Registrant)
By: /s/ Ehud Ben-Yair
Ehud Ben-Yair
Chief Financial Officer
Date: March 26, 2025
View original content:https://www.prnewswire.com/news-releases/tat-technologies-grows-revenue-by-34-net-income-by-139-and-adjusted-ebitda-by-67-for-the-full-year-of-2024-302412534.html
SOURCE TAT Technologies Ltd
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