Relentlessly towards modernisation and profitability

Owing to the positive business result of all of its business units, the Rába group generated HUF 1,809 million in operating profits, continuing well above the result of the base period, thus providing a solid basis for the continuation of the Rába Modernisation Programme 2025.

A strong customer demand supporting export activities characterised the first half of 2023, thus allowing the Rába group to achieve outstanding sales growth, resulting in the highest H1 and Q2 sales revenue of the past 20 years. During the cumulative period, sales revenues amounted to HUF 40.0 billion, with group-level sales in Q2 of HUF 19.7 billion.

In H1 of 2023, the Rába group still achieved results far exceeding the base period, amounting to an after-tax profit of HUF 2,402 million. The EBITDA generated by the group was HUF 3,094 million, which represents a 55.4 per cent increase in cash generation compared to H1 of 2022. Profitability was increased upon persisting high steel raw material and energy prices, considerable communal energy cost increase in Q1, as well as upon continuously increasing labour costs in consequence of the labour shortage and the high inflation.

In order to achieve long-term competitiveness and profitability, reorganisation measures of strategic significance and capital expenditures aimed at technology-development, as well as changes targeting increased flexibility and integrity are still continued.

Compared to the same period of last year, the amount of shareholders’ equity increased by 20.5 per cent. The value of equity per share was HUF 1,871.

“The Rába group relentlessly pursues the implementation of the Rába Modernisation Programme 2025, capital expenditures into machinery, real estate and sustainability, as well as efficiency improvement and the enforcement of the lean principles. Upon these reorganisation measures we managed to maintain the results defined in or business plan in spite of the unfavourable economic environment. Our goal remains to keep and increase the confidence of our customers, to improve the practical cooperation with various educational institutions and to put special emphasis on the development of the R+D area”, said Béla Hetzmann, Chairman-Chief Executive Officer of Rába Automotive Holding Plc. evaluating the results of the company.