Relentlessly towards modernisation and profitability

Thanks to the positive operating results of all business units of the Rába Group, the operating profit of HUF 1,809 million was still significantly above the base period, providing a stable basis for the continuation of the Rába Modernisation Programme 2025.

The first half of 2023 was characterised by high customer demand supporting export activities, so in this period Rába Group achieved an outstanding increase in turnover and the highest first half and second quarter turnover in the last 20 years. The cumulative sales revenue for the period under review was HUF 40.0 billion, while the Group-wide sales revenue for the second quarter was HUF 19.7 billion.

In the first half of 2023, Rába Group continued to achieve a profit after tax of HUF 2,402 million, significantly above the base period. The realised EBITDA was HUF 3,094 million, which represents an increase in cash generation of 55.4 percent compared to H1 2022. The increase in profitability was achieved despite still high steel raw material and energy prices, a significant Q1 municipal energy cost surplus, and continuously rising labour costs due to labour shortages and high inflation.

Reorganisation measures of strategic importance, investments to improve technology, and changes to increase flexibility and integrity will continue to be implemented to ensure long-term competitiveness and profitability.

Compared to the same period last year, equity increased by 20.5 percent. The equity per share was HUF 1,871 per share.

"The Rába Group will continue to implement the Rába Modernisation Programme 2025, investments in machinery, real estate and sustainability, efficiency improvement and lean principles. Despite all these reorganization measures and the unfavourable economic environment, we have been able to maintain the results defined in the business plan at Group level. We continue to aim at maintaining and increasing the confidence of our customers, improving practical cooperation with various educational institutions, and prioritising the development of R&D", said Béla Hetzmann, CEO of RÁBA Járműipari Holding Plc.