Blackboxstocks Acquisition Target Evtec Reports Revenue Increased 115% in FY2023 Projects $52 Million for FY2024
April 02 2024 - 8:00AM
Blackboxstocks Inc. (NASDAQ: BLBX), (“Blackbox” or the “Company”),
a financial technology and social media hybrid platform offering
real-time proprietary analytics for stock and options traders of
all levels, today released financial results for the first half of
FY2024 ended December 31, 2023, for its acquisition target company,
Evtec Aluminum.
- Revenue for the twelve
months of FY 2023 reached $30.9 million compared to $14.4 million
for FY2022 ended June 30, 2022, an increase of 115%.
- Revenue for the first half
of fiscal 2024 was $21.3 million, an increase of 53% compared to
$13.9 million for the first half of fiscal 2023, ended December 31,
2022.
- Total
projected revenue for FY 2024 ending June 30, 2024, is expected to
increase approximately $21 million to $52 million.
Evtec Aluminum Limited (Evtec) has established
itself as one of the leading OEM suppliers in the UK across the
automotive, emobility, marine and power train sectors. At its
class-leading facilities in the UK, Evtec designs, manufactures and
supplies complex aluminum castings ranging in weight from just 50g
up to 200kg. Evtec’s manufacturing process and engineering
capabilities create aluminum components in an unlimited range of
shapes and sizes designed specifically for the individual
manufacturer’s requirements. Electric motors (e-motors) create
tremendous force and the casing holding them in position must be
able to withstand an enormous amount of pressure. Evtec’s
proprietary manufacturing techniques produce thin, yet strong and
often complex in design, aluminum casings which will endure the
pressure waves and hold the e-motor in place throughout the
vehicle’s lifecycle.
- Evtec Proprietary Ultra-Light Aluminum plays a crucial
role in the manufacture of lightweight parts for EV and Hybrid
vehicles.
- Nearly 2 million aluminum components are created at
Evtec Aluminum facilities every year for customers such as Jaguar
Land Rover, Bentley, Aston Martin, Ford, Dunlop and most recently,
McClaren.
Evtec Chairman, David Roberts said, “Evtec
Aluminum has seen an incredible transformation over the last two
years. Our laser-focus on delivering high quality, lightweight
aluminum components has established us as a key strategic supply
partner to our world class OEM customer base. With strong order and
revenue growth in the first half of FY2024 ended December 31, 2023,
we continue to expect increasing demand for our products to support
growth in the second half as well.”
Blackboxstocks, Inc. CEO Gust Kepler said,
“Throughout the course of this merger process, we have seen Evtec
grow their customer base and solidify their position as a key
supplier of critical parts for leading automotive companies. We are
confident this merger will provide significant value for our
shareholders. We are also working diligently to grow our core
business in the fintech sector with new products and strategic
partnerships.”
About Evtec Aluminum Ltd.
Evtec is recognized as one of the world’s
leading advanced Aluminum castings and machining manufacturers,
supplying premium brand Original Equipment Makers (“OEMs”). It
supplies a range of strategic auto parts on powertrain and EV packs
as well as body-in-white structural parts, from its world-class
facilities in the UK. Their business focuses on premium luxury
brands and a market transition to electric vehicles and includes
Jaguar Land Rover Group as their largest customer. As a result of
significant change in the global supply chain for auto
manufacturing in Great Britain that places an increased need for
local sourcing of parts, Evtec is well positioned to expand both
organically and through acquisition. For more information, go to:
www.evtec-Aluminum.com
About Blackboxstocks, Inc.
Blackboxstocks, Inc. is a financial technology
and social media hybrid platform offering real-time proprietary
analytics and news for stock and options traders of all levels. Our
web-based software employs “predictive technology” enhanced by
artificial intelligence to find volatility and unusual market
activity that may result in the rapid change in the price of a
stock or option. Blackbox continuously scans the NASDAQ, New York
Stock Exchange, CBOE, and all other options markets, analyzing over
10,000 stocks and up to 1,500,000 options contracts multiple times
per second. We provide our users with a fully interactive social
media platform that is integrated into our dashboard, enabling our
users to exchange information and ideas quickly and efficiently
through a common network. We recently introduced a live audio/video
feature that allows our members to broadcast on their own channels
to share trade strategies and market insight within the Blackbox
community. Blackbox is a SaaS company with a growing base of users
that spans over 40 countries; current subscription fees are $99.97
per month or $959.00 annually. For more information, go to:
https://blackboxstocks.com
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Contacts:
Investors@blackboxstocks.com
PCG AdvisoryJeff Ramsonjramson@pcgadvisory.com
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