2023-11-15 19:44:53
The train and bus manufacturer CAF has skyrocketed its performance in the first nine months of the year. The Basque company achieved a profit of 53 million euros, 56% more than in the same period of the previous year, as reported to the National Securities and Markets Commission (CNMV).
The company based in Beasain (Guipúzcoa) has based its good results on the remission of supply chain problems and the progressive stabilization of prices after the strong growth in inflation caused by the war in Ukraine.
CAF’s sales reached 2,735 million euros during the period, 25% higher than in 2022, with a gross operating result (Ebitda) of 128 million euros, 32% more than in the first nine months of last year. anus.
After the record contracting of new orders achieved last year, this year this item has fallen by 29%, to 2,707 million euros, although it still does not include 800 million already awarded but pending signature. The total portfolio remains at 13,222 million euros, showing strong expansion of Solaris’ bus business, especially in the third quarter of the year, as highlighted by CAF. Solaris concentrates nearly 1,000 million of this portfolio and the railway business the remaining 12,200 million euros.
Regarding the operational evolution of both businesses, the railway business grew by 25% in sales, highlighting the growth of activity linked to comprehensive projects, the rehabilitation of railway vehicles and the supply of components. The bus sector advanced 24%, continuing with the good pace of deliveries in the quarter and with a historical proportion of deliveries of zero-emission buses, which have a higher unit value, as highlighted by the company.
The Basque company has assured in the presentation sent to the market that operational profitability has continued to show signs of recovery in the last quarter due to the greater stability of prices and the supply chain that has stood out as the foundations of its results. Thus, the company’s profitability margin, which shows the percentage of profits before taxes and interest on total sales; has risen to 4.7% from 4.4% previously.
Looking ahead to the year as a whole, CAF maintains the forecasts it gave at the beginning of the year, expecting a growth in sales of between 10% and 15%, an improvement in profitability that it does not detail, and the delivery of a dividend “in line with the evolution of the results”.
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