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ISTOBAL generates turnover in excess of 137 million euros in 2018

By 4 June, 2019NEWS
ISTOBAL results

ISTOBAL generated turnover in excess of 137 million euros in 2018, with sales up 2.2% from the previous year according to the final consolidated figures.

The company remains on its path of growth from recent years, building on the excellent results it has achieved in its primary export areas thanks to the work of its commercial subsidiaries and distributors. ISTOBAL exported 78% of its production during 2018, up 3% from 2017.

Spain and France are still the the most important markets for the multinational group, accounting for 22% and 18% of the group’s net sales of car wash equipment respectively. Completing the list of the main export markets with the highest turnover for the group are Italy, the USA and Denmark (in that order).

The 2018 balance sheet also highlights growth in some of the top ten markets for the group. In Australia, for instance, turnover from car wash machines more than doubled from the previous year, and in the USA, the Netherlands and Romania, growth in net sales of car wash equipment stood at around 50%.

In terms of product divisions, rollovers are still the highest sellers at ISTOBAL, followed by jet wash systems and tunnels, a wide range of solutions geared towards commercial vehicles, and the company’s chemical product line. Compared to the previous year, there has been notable growth in sales of jet wash systems and tunnels, over 15% in 2018, and sales of chemical products and water treatment systems, which exceeded 10%.

ISTOBAL UK results

ISTOBAL UK is one of the largest foreign subsidiaries for the Group, with a great potential for growth in the UK market. The subsidiary has been awarded this year significant orders from Top 50’s Indie Petroleum Companies for the supply of valeting equipment, this is down to its market leading field service support and cutting edge products, together with the expansion of the sales and marketing teams.

2019 will be a very encouraging and positive year for ISTOBAL UK will include amongst its strategic plans in 2019 expanding both the retail and commercial business, launching its unique Smartwash by ISTOBAL system and offering its customers Revenue Share/Rental opportunities as well as moving into other markets such as car dealerships and rental companies. The ISTOBAL esens® chemical brand is now widely used in the UK and well respected in the Forecourt valeting Market place and ISTOBAL UK anticipates that its growth will double during 2019.

Growth plan and projection for 2019

In order to address its strategic international expansion plan and cope with the new challenges of the market, ISTOBAL increased its investment in human resources by 6.7% throughout the group in 2018. These efforts to reinforce the company’s organizational structure should lay the groundwork for further growth in years to come. The group currently employs more than 900 members of staff, 700 of whom are based in Spain. It expects to generate turnover of more than 141 million euros in 2019.

With a presence in more than 75 countries worldwide, the group will focus on increasing its market quota in all its locations this year in order to consolidate its leadership – particularly in the USA, Italy and other countries that offer significant business opportunities for ISTOBAL. It also plans to boost its growth in more mature markets, such as the UK and the Netherlands.

ISTOBAL will continue to place its bets on digitalization, developing intelligent wash spaces with Smartwash by ISTOBAL technology and working on other solutions that improve the user experience and offer value for customers. Other key areas of action for the company include developing innovative solutions for equipment that caters for the wash needs of any kind of vehicle, as well as a new line of business aimed at refrigerated transport and shipping containers.