Rába profit climbs 14% in 2017

Telco

Hungarian automotive industry holding Rábaʼs after-tax profit climbed 14% to HUF 1.57 billion last year, boosted by higher revenues, a decline in administrative costs and the lower corporate tax rate, an earnings report released late Wednesday shows.   

Revenues rose by 3% to HUF 43.84 bln in 2017, according to a summary by state news wire MTI. Domestic sales fell 6% to HUF 15.23 bln, but export sales were up 8% at HUF 28.61 bln.

Direct costs of sales rose faster than revenues, climbing 4% to HUF 34.58 bln, but general and administration costs fell 5% to HUF 6.48 bln, lifting operating profit 7% to HUF 2.15 bln.

Pre-tax profit increased by 3% to HUF 2.05 bln.

Raba had total assets of HUF 36.42 bln at the end of the year, up 9% from twelve months earlier. Long-term liabilities jumped 90% to HUF 4.62 bln.

ADVERTISEMENT

Business, consumer confidence improves - Századvég Analysis

Business, consumer confidence improves - Századvég

Opposition parties to begin PM candidate primaries Elections

Opposition parties to begin PM candidate primaries

New managing director at the helm of Wolt Hungary Appointments

New managing director at the helm of Wolt Hungary

Budapest bike-sharing scheme boasts record ridership City

Budapest bike-sharing scheme boasts record ridership

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
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.