ISTOBAL grows 9% in 2017, with a turnover over 134 million Euros

By 12 March, 2018NEWS
balance-2017

ISTOBAL increased its turnover by 9% in 2017 compared to the previous year, with more than 134 million Euros at year end, according to pre-audited accounts. The Spanish company has managed to sustain the growth of recent years, with an EBITDA figure higher than 18 million Euro, 12% more than in 2016.

In 2017, Spain and France were the most important markets for ISTOBAL, accounting for 25% and 18% respectively of the Company’s net turnover. They were followed by Italy and the United States, where turnover growth in the Group’s subsidiaries was most significant, with increases over 20%. Denmark and the United Kingdom are also on the list of the five main export markets.

ISTOBAL UK is currently the third largest foreign subsidiary for the Group, with a great potential for growth in the UK market. The subsidiary has been awarded this year the order for the supply of all of the valeting equipment for a new flagship head office site for one of the major independent retailers in the UK. The market leading service support and the dedicated service and stores teams, together with the expansion of the sales and marketing teams, make 2018 a very encouraging and positive year for ISTOBAL UK, that will include amongst its strategic plans expanding both the retail and commercial business and moving into other markets with a rising potential, such as car dealerships and car rental companies.

The balance sheet for 2017 includes excellent results in Spain and France, -where ISTOBAL continues consolidating its leadership- and reflects the company’s growing presence in Italy thanks to its subsidiary and a strong distributor network covering the country sales-wise and technically, as well as the amazing growth of the US subsidiary focused on commercial vehicles, a segment with a two-fold revenue growth compared to 2016.

In terms of product divisions, ISTOBAL’s wide range of rollovers remains the best seller. Enclosures, jet washes, chemical products and water treatment saw the highest growth rates in 2017.

New market challenges and prospects for 2018

ISTOBAL is reinforcing its organizational structure with new professionals and the creation of new departments to better face market challenges, consolidate its international leadership and reach a 144 million turnover in 2018.

Over the next few years, the Spanish group will continue to boost innovation in products and processes while increasing equipment reliability and making the most of connectivity and Big Data; projects allowing the brand to be better positioned as a synonym for quality, innovation, car wash efficiency and effectiveness will also be fostered.

Its expansion plan will concentrate on increasing its market share in the countries where it is already present, particularly in the United States, Italy and Germany.