NTS Group again reports solid financial results in 2024
NTS Group, first-tier supplier in high-tech manufacturing, reports solid results over 2024. The company, based in Eindhoven (NL), reported an increase in net revenues by a solid 3% to € 433 million. Despite ongoing challenging market circumstances such as high inflation, wage increases, global market tensions and a weak global economy, NTS performed well. At € 41 million, reported EBITDA was slightly below 2023. Normalized for one-off costs, EBITDA was some € 47 million and remains at a healthy level of 11% of net revenues.
Key highlights:
- Net revenues: € 433 million (2023: € 420 million)
- EBITDA: € 41 million (2023: € 43 million)
- Normalized EBITDA margin 11% of sales (similar to 2023)
- Investments in R&D: € 11 million (2023: € 4 million)
- Group equity: € 114 million (2023: € 78 million)
- Solvency: 47% (2023: 39%)
- Employees: 1.774 FTEs (+51 or +3%)
In 2024, the turnover of NTS Group amounted to €433 million, an increase of 3% versus prior year. Growth was mainly driven by increased activity levels in Europe, where the company could make good use of investments made in manufacturing capacity over the past years. The turnover in Asia stabilized after the slowdown in the semiconductor industry in 2023.
According to Frans van Lierop, CEO of NTS Group, the 2024 results are once again solid and the longer-term market outlook remains strong: “Our markets have been stabilizing somewhat, but we continue to invest (in production capacity, streamlining the organization and competences) to capture the future market potential. Our customers indicate and reconfirm their demand growth for the mid and long term. Therefore, we reaffirm our 2030 growth strategy and our commitment to our client-centered approach.”
In 2024, NTS advanced its clear strategy to deliver on its ambitious growth targets. The company’s position as a first-tier contract manufacturer within the value chains of major OEMs was reconfirmed, and a clear market focus will further leverage NTS’ technological capabilities to drive sustained growth alongside its customers.
In 2024, the organization was streamlined and strengthened at key positions. An important pillar of NTS’ strategic roadmap is the global positioning of its sites that allow the company to serve its customers in the most efficient and responsive way. Each site has a unique offering and positioning, but also taps into the global network to manufacture and deliver high-tech solutions. Van Lierop: “Our focus has been on increasing operational performance, exploiting our competences and growing our business at a rate that keeps pace with our customers’ growth.”
In 2024 NTS invested some € 11million in Research & Development activities and the company welcomed 51 new colleagues across its locations. Major developments also included the opening of new facilities in Drachten, the Netherlands (April 2024) and Singapore (September 2024), as well as the relocation of the NTS Venray facility and its activities to NTS Eindhoven and NTS Slavičín.
Events to date
In February 2025, NTS Group announced that NPM Capital will become minority shareholder of NTS, next to the Wintermans family, who continues to be majority shareholder. The collaboration with both shareholders will enable NTS to further expand its production capacity, competences and international market position, with a focus on scaling up in Europe, Asia, and North America. In the meantime, the transaction has been approved by authorities and regulators and is expected to close in May 2025. For NTS, this marks an important step in the company's ambition to contribute to a sustainable and technologically progressive future.
Going concern and outlook
In the first quarter of 2025, demand in the semiconductor markets remained stable and the Group’s turnover in the first months of 2025 was in line with the business activity in 2024. NTS’ customers have reconfirmed their growth expectations for the mid and long term and NTS is actively working with its customers on new product introductions, which will benefit sales growth in the coming years.
“NTS Group is resilient, agile and well-prepared to mitigate operational risks resulting from market uncertainty or volatile short term market demand, caused by global trade discussions and geopolitical developments. However, all our near-future investments, including programs to enhance the required human talent, will be based on the market potential from a mid- to long-term perspective,” Van Lierop said.
The company's focus for 2025 remains on improving the performance of the combined competences of NTS through an increasingly integrated approach while optimizing the operational performance of each entity.
Van Lierop concluded: “Combined with an increase of sales efforts and quality we are well-equipped to accelerate our growth. We have initiated structural monitoring of customer and employee satisfaction, as we are convinced that a focus on both will benefit our long-term performance. To maintain our position as partner of choice for our customers, we will continue to invest in our equipment and key processes, our technological know-how, and the competences of our employees.”
