ISTOBAL closed its 2016 accounts with a €17 million EBITDA, 16% more than the previous year. With ten subsidiaries in Europe and America, the group has increased its turnover by 5%, totalling 124 million euros in 2016 thanks to the good results of the main markets -Spain and France- and a relevant rise in sales in countries like Italy and the US. This significant increment is explained by the boost to international expansion in recent years, the support given to the network of subsidiaries and distributors, and growing investment in innovation.
In the 2016 balance sheet, Italy ranks second as an export market after France, the country leading international sales. The evolution of sales in Italy is remarkable, with a 90% increase versus the previous year following the consolidation of ISTOBAL Italy and thanks to a strong distributor network.
International sales accounted for 80% of the group’s overall billing in 2016. Together with France and Italy, the United States, Denmark and the United Kingdom rank among the top five export markets. In Denmark, sales rose almost by 50% while in Britain and the United States, sales increased by 40% and 30% respectively, compared to the previous year.
As for the development of the sales subsidiaries, the group’s delegations in Spain, Denmark, Great Britain, the United States and Austria -in that order- met the highest business targets.
Regarding ISTOBAL’s product range, the rollover division remains on the lead, turnover-wise. Similarly, other products saw relevant increases; this is the case with the ISTOBAL accessory line -thanks to the contract with MRH Limited- and the esens® chemical product range.
Expansion plan and prospects for 2017
In 2017 ISTOBAL will continue implementing its expansion plan, seeking to make the most of the company’s potential for growth in the US, where its presence is already strong with commercial vehicles and with a growing market share in the car dealers’ sector. The Spanish company will also reinforce its presence in Germany and will further consolidate the Middle East market.
As regards product development, the focus on car care solutions offering better results and a more pleasant experience to consumers will be key for the company, together with ongoing development in digitalisation systems, payment methods and communications. These strategies shall enable the company to reach a €130 million turnover in 2017.