Blackboxstocks Acquisition Target Evtec Reports Revenue Increased 115% in FY2023 Projects $52 Million for FY2024
DALLAS, April 02, 2024 (GLOBE NEWSWIRE) -- 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:
PCG Advisory
Jeff Ramson
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