Higher Sales Boost Rába Profit
Hungarian automotive industry company Raba had after-tax profit of HUF 1.7 billion in Q1-Q3, improving from a HUF 0.8 bln loss in the base period, an earnings report released after the closing bell on Wednesday shows.
Revenue climbed 22% to HUF 56 bln. Domestic sales increased 17% to HUF 14.6 bln and exports rose 24% to HUF 41.4 bln.
The direct cost of sales rose in tandem with revenue to reach HUF 46.3 bln. Other operating costs increased a relatively modest 15% to HUF 7.7 bln.
A net financial gain of HUF 0.3 bln, compared to a HUF 1.7 bln loss in the base period, also lifted the bottom line.
Chairman-CEO Béla Hetzmann said the group was "successfully and consistently" pursuing the principles and goals of its 2025 modernization program, plowing CAPEX into sustainability investments and machinery.
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