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Rába Concluded the Year 2021 with Stable Results – the General Meeting of Shareholders Approved the Company’s Annual Accounts

The Annual General Meeting of Shareholders of Rába Plc. approved the report of the Board of Directors on the Company’s operation in 2021.  The vulnerability of the international supply chains and the drastic increase in energy prices had a strong impact on the company’s business.  Having overcome the challenges of the year, the company closed the 2021 business year with a balance sheet total of HUF 45 billion and aggregate profits of HUF 1.3 billion during the year. 

In spite of the difficulties occurring one after the other, including the continuous uncertainty of procurement sources and the crisis of the energy market shaking all of Europe, the Rába Group concluded a successful business year last year. Following the shock in demand caused by the pandemic, the company successfully reacted to the rapid revival in customer demand, which contributed to the efficient operation. At the same time, the operating profitability of the company was also noteworthy, amounting to nearly HUF 2 billion, thus the operating profit per sales revenue reached 4.3 per cent.

In terms of cash generating capabilities, Rába recorded HUF 4.387 billion in EBITDA-level profits, the operating efficiency of which is at the level of the industry average, 9.4 per cent.

The General Meeting of Shareholders approved the consolidated annual accounts of the company with the following principal figures:

The General Meeting of Shareholders decided to reelect Mr. István Lepsényi to the position of chairman of the Supervisory Board and member of the Audit Committee for the period between 1. May, 2022 and 30. April, 2027 and elected Dr. Zsolt Harmat and Dr. Sándor József Szabó to the Audit Committee. 

The drastically increasing energy and raw material prices are presenting major challenges for all economic actors and this is particularly true for companies in the energy- and steel-intensive automotive industry, including, especially the Rába Group. In order to maintain its profitability, the company reacted by increasing the flexibility of its production activity and by implementing stringent cost controls and is currently also working on improving the efficiency of its manufacturing processes and technology.  Its key objective is to neutralise negative impacts as soon as possible by reflecting cost increases in the sales prices charged by the company.

The management of Rába and all employees are committed to ensuring that while maintaining its efficient operation, the company continues to serve its customers at the highest standard, striving for maximum profitability in the future, as well.