The Basque aeronautical manufacturer ITP Aero closed 2024 with income of 1,612 million of euros, 24% more than the previous year. The company, mostly participated by Bain Capital, raised its profitability Ebitda 43%, up to 295 million, supported by the promotion of commercial aviation, the highest demand for motion maintenance and repair services (MRO) and the evolution of the defense business.
The global commercial aviation sector grew by 10.4% in passenger-kilometer revenue in 2024. With more than 75% of its activity linked to this market, ITP Aero plans to maintain its growth in 2025 through the expansion of capacities and the improvement of its service portfolio.
In that area, the company reinforced its relationship with Pratt & Whitney and increased its component deliveries for the Rolls-Royce Trent family deliveries. In addition, to enhance your maintenance area, you acquired BP Aeroa Texas -based service provider. This operation, the first of ITP Aero in the MRO sector and in the United States, reinforces its presence in this business. In the Defense Division, he continued his participation in the FCAS/NGWS program in Spain and developed technologies for this project.
During the year, the company expanded its facilities in Querétaro (Mexico) with a new foundry plant and a logistics center, which meant an investment of 28 million euros. The template in Mexico exceeded 1,000 employees for the first time. Also last month inaugurated his Advanced Manufacturing Center In Zamudio (Vizcaya), with an investment of 24 million euros and an expected workforce of more than 150 professionals.
The company reinforced its workforce with 730 new additionsof which more than 430 have occurred in Spain. In total, it has 5,689 employees, 13.6% more than in 2023. Investment in research and development reached 102 million euros, which represents an increase of 55% compared to the previous year.
Since its acquisition by Bain Capital in 2022, the company has allocated more than 235 million euros to industrial and technological investment. By 2025, it plans to continue expanding its international presence and reinforce its position in the air maintenance market.
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