The Rába group launched the year 2023 at speed, overcoming continued difficulties. The company achieved sales in excess of HUF 20 billion in the first quarter, which means a 53 per cent growth compared to the base period. The operating profit grew by a staggering almost 1 billion HUF compared to the Q1 result of the previous year.
A strong demand characterised all key markets of Rába during the first three months of the year. Thanks to its adequate response to the lively customer activity, the Rába group’s after-tax profits exceeded the level of the previous year by HUF 1.5 billion, and achieved HUF 992 million in profits. The company successfully adjusted its activities to the record-high base material and energy purchase prices characteristic for H2 of 2022, which seem to be somewhat more moderate in the first quarter of this year. In spite of the continuing considerable cost pressure, the company achieved the second highest EBITDA result of the past decade. The EBITDA-level result amounted to nearly HUF 1.2 billion.
The reorganisation measures and technological developments within the comprehensive Rába Modernisation Programme 2025, announced last year are implemented on schedule, thus contributing to long-term competitiveness and generating profitability.
The amount of shareholders’ equity increased by 15.5 per cent compared to the same period of last year. The value of equity per share was HUF 1,767.
“The first months of this year were concluded with substantial profits and we succeeded in achieving the highest Q1 sales revenue of the past twenty years, in spite of the negative impact on our operating profitability as an export-oriented company, of the strengthening exchange rate of the Hungarian forint. High energy prices continue to represent a challenge. These results show that the strategic direction we have chosen is correct and underscore the importance of the implementation of the individual measures. We continue to dedicate substantial efforts to the implementation of our restructuring, modernisation and capital expenditure plans since we believe that this is the way to ensure the stability and future of the group of companies,” said Béla Hetzmann, Chairman-Chief Executive Officer of RÁBA Automotive Holding Plc. evaluating the results of the company.