Rába bottom line improves on wider margin in Q1-Q3
Hungarian automotive industry company Rábaʼs Q1-Q3 after-tax profit improved to HUF 853 mln from a HUF 254 mln loss in the same period a year earlier as margins improved, according to an earnings report published early this morning.
Rábaʼs revenue fell 3% to HUF 32.9 bln as demand for farm machinery axles, a key component of the companyʼs portfolio, "remained rather passive".
Domestic sales slipped 14% to HUF 11.3 bln, but exports rose more than 4% to HUF 21.6 bln.
Direct cost of sales fell at about twice the rate of revenue to HUF 26.2 bln, lifting gross profit by HUF 13% to HUF 6.8 bln.
Operating profit more than doubled to HUF 1 bln.
The state controls a little over 76% of Rába.
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.