TP Aerospace had a strong performance in 2021, which is supported by the newly published annual report. While global aviation remained significantly impacted by the COVID-19 pandemic in 2021, activity grew steadily growing for TP Aerospace, and the company managed a more than 30% topline growth from 2020.
In March 2022, TP Aerospace published its 2021 annual report, showing that the company is on a positive track, after almost two years of crisis in the industry caused by the pandemic.
TP Aerospace ended the year at USD 88.8m in revenue, which was 31% above 2020 levels, while EBITDA ended 46% above 2020 at USD 31.3m. The performance was, amongst other, driven by a faster recovery of narrowbody aircraft, which is a segment where TP Aerospace was very well positioned in 2021 as well as a general uptake in the leisure travel market in Europe.
“When we started 2021, our industry had just gone through one of the toughest years in history, and there was still significant risk of further travel restrictions. Nonetheless, we were confident that we were in an excellent position for a fast rebound with a resilient business model” Says CEO Nikolaj Jacobsen and continues to comment on one of the drivers of the solid performance:
“Throughout the pandemic, our organization’s ability to adapt to changing dynamics and activity levels has been key to how we have endured through the past two year. Our employees have been key in supporting our customers from an operational as well as a cost perspective, ensuring that we continue to provide the level of flexibility needed.”
With a good result in 2021, along with the signing of significant new contracts towards the end of the year, TP Aerospace is well-positioned to continue the growth in 2022.