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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 8th 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.
Recent Highlights
- Adjusted EBITDA1 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;
- 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;
- Reduced borrowings under our revolving credit facility by $15.2 million in Q2 2025, for a Net Debt to Adjusted EBITDA ratio1 of 2.90x (4.51x at December 31, 2024);
- 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
- Declared a quarterly dividend of C$0.035 per common share.
“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, inflationary pressure and the potential for further escalating and retaliatory tariffs. As these challenges evolve, the Company remains focused on operational execution and cost management to mitigate the adverse effects related to this environment.”
“AirBoss remains committed to our strategy to broaden and grow our AirBoss Rubber Solutions segment with a focus on adding new compounds and products, technical capabilities and geographic reach and a renewed emphasis on core competencies in our AirBoss Manufactured Products segment,” added Gren Schoch, Chairman and Co-CEO of AirBoss. “Although the global economic situation remains uncertain and precarious, we are optimistic that our businesses are strategically located and well-positioned to respond to opportunities and address challenges which may present themselves. We remain committed to our goal of growing AirBoss as a global market leader in the custom rubber compounding market and the industries which we serve.”