Narrower Margins, Financial Loss Puts Rába in Red in Q1-Q3

Automotive

Hungarian automotive industry company Rába booked a HUF 815 million loss in Q1-Q3 as costs rose at a faster clip than sales and financial losses weighed, news agenvcy MTI reports, citing an earnings report published after the closing bell on Wednesday.

Revenue climbed 38% to HUF 45.8 billion, lifted by strong demand and the inclusion of an acquisition in the consolidation.

Direct costs of sales increased 40% to HUF 38 bln and other operating expenses rose 44% to HUF 6.7 bln.

Rába booked a HUF 1.7 bln financial loss, compared to a modest financial gain in the base period.

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