Rába revenues rise, operating profit falls
Hungarian automotive company Rába had revenues of HUF 10.93 billion in the second quarter of 2016, up 3.1% from a year earlier, as EBITDA rose 17.6% to HUF 1.08 bln and operating profit dropped 26.1% to HUF 550 mln, Rábaʼs IFRS consolidated preliminary report published yesterday shows, according to Hungarian news agency MTI.
In the second quarter, revenue rose 10.7% in the vehicle parts division, climbed 53.0% in the vehicle division, and fell 9.5% in the axle division.
In the first half of this year, revenue fell 16.3% to HUF 20.5 bln, EBITDA dropped 19.2% to HUF 1.86 bln, and operating profit dropped 31.8% to HUF 783 mln.
In the first half, revenue rose 4.6% in the vehicle parts division, dropped 50.2% in the vehicle division, and fell 11% in the axle division.
The Rába group had net liabilities of HUF 2.082 bln at the end of the first half, down HUF 1.294 bln from the end of last year.
The state owns a 76% stake in Rába.
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