Business
AirBoss Reports 2nd Quarter 2025 Results
NEWMARKET, Ontario, Aug. 07, 2025 (GLOBE NEWSWIRE) -- AirBoss of America Corp. (TSX: BOS) (OTCQX:...
About this update from Airboss Of America Corporation
[{"type":"text","content":"AirBoss Reports 2nd Quarter 2025 Results\n\n\n\n NEWMARKET, Ontario, Aug. 07, 2025 (GLOBE NEWSWIRE) -- AirBoss of America Corp. (TSX: BOS) (OTCQX: ABSSF) (the “Company” or “AirBoss”) today announced its second quarter 2025 results. The Company will host a conference call and webcast to discuss the results on August 8\n \n th\n \n at 9:00 a.m. (ET), the details of which are outlined below. All dollar amounts are shown in thousands of United States dollars (\"US $\" or \"$\"), except per share amounts, unless otherwise noted.\n \n\n\n Recent Highlights\n \n\n\n\n Adjusted EBITDA\n \n 1\n \n in the second quarter of 2025 (“Q2 2025”) increased by $4.1 million to $10.2 million compared to $6.1 million in the second quarter of 2024 (“Q2 2024”) and profit increased by $11.8 million to $2.3 million;\n \n\n Cash provided by operating activities increased by $1.8 million to $12.9 million in Q2 2025 compared to $11.1 million in Q2 2024;\n \n\n Reduced borrowings under our revolving credit facility by $15.2 million in Q2 2025, for a Net Debt to Adjusted EBITDA ratio\n \n 1\n \n of 2.90x (4.51x at December 31, 2024);\n \n\n AirBoss Manufactured Products' rubber molded products business secured new production awards from original equipment manufacturers (\"OEM\") and Tier 1 manufacturers which are expected to generate up to $80.0 million in sales over the next five years; and\n \n\n Declared a quarterly dividend of C$0.035 per common share.\n \n\n\n\n \"AirBoss Manufactured Products' rubber molded products business has experienced positive traction through the first half of 2025, securing a number of new production awards. In addition to these new awards, this business has also seen a significant increase in requests for quotes this year, which we believe to be related to the evolution of on-shoring strategies, as companies consider moving production to the United States. We are also encouraged by recent announcements of increased defense spending by NATO countries, which we believe could generate increased opportunities for AMP's defense business,\" said Chris Bitsakakis, President and Co-CEO of AirBoss. \"Despite these positive indications, the Company continued to feel the impact of ongoing economic and geopolitical challenges, including varying degrees of market softness, tariffs, in...