Rába posts revenues of HUF 21.6 bln in first half

Hungarian automotive industry concern Rába recorded revenues of HUF 21.6 billion in the first half of 2017, up 5.4% from a year earlier, the Budapest Stock Exchange-listed firmʼs consolidated IFRS report published on Wednesday shows.

Revenue in the axle division increased by 5.0%, while revenue in the components division fell 7.1%. Revenue in the vehicle division climbed 39.2%.

EBITDA rose 7.1% to HUF 1.98 bln in the first half. Operating profit climbed 27.7% to HUF 993 million over the period, with all three divisions contributing positive results.

Net borrowing amounted to HUF 2.1 bln at the end of the first half, almost unchanged from a year earlier.

Net assets rose 7.4%. The State of Hungary holds 75.02% of the companyʼs shares.