The Rába Group started the year 2023 with momentum, overcoming continuous difficulties. In the first quarter of the year, the company achieved sales revenue of more than HUF 20 billion, a 53 percent increase compared to the base period. An impressive increase in operating profit of nearly HUF 1 billion was achieved compared to the first quarter of a year ago.
In the first three months of the year, all key markets for Rába saw strong demand. Responding well to the brisk customer activity, Rába Group's profit after tax was HUF 1.5 billion higher than a year earlier and reached a profit of HUF 992 million. The company has successfully adapted to the record high raw material and energy purchase prices experienced in the second half of 2022, which are expected to moderate in the first quarter of this year. Despite still significant cost pressure, the company achieved its second highest first quarter result in the last decade at EBITDA level. The realised EBITDA level reached nearly HUF 1.2 billion.
The reorganization measures and technology development investments of the comprehensive Rába Modernization Program 2025 announced last year will be implemented on schedule, contributing to the creation of long-term competitiveness and profitability.
Compared to the same period last year, equity increased by 15.5 percent. The equity per share was HUF 1 767 per share.
"We closed the first months of this year with a significant profit and achieved our highest first quarter revenue in twenty years, despite the negative impact of the strengthening forint exchange rate on our operating profitability as an export-oriented company and the continuing challenge of managing high energy prices. These results fundamentally demonstrate the validity of the strategic direction we have set and the importance of implementing the steps we have taken. We will continue with great vigour to implement our restructuring, modernisation and investment plans, as we believe that this will ensure the stability and future of the Group." - said Béla Hetzmann, Chairman and CEO of RÁBA Járműipari Holding Nyrt.