Brief: Ebusco Holding FY Net Loss Ar Eur 32.2 Mln

Ebusco Holding

29/03/2023 06:39

March 29 (Reuters) - Ebusco Holding NV  EBUS.AS :
    * STRONG GROWTH DESPITE A CHALLENGING YEAR
    * FY EBITDA LOSS OF EUR 34.8 MILLION DUE TO THE RAMP UP AND
SUPPLY
CHAIN RELATED PRODUCTION INEFFICIENCIES
    * FY 2022 REVENUE INCREASED BY 360% TO EUR 111.6 MILLION
DESPITE
DELAYED SHIPMENTS AND DELIVERIES
    * FY NET LOSS OF EUR 32.2 MILLION
    * 2022 CASH & CASH EQUIVALENTS OF EUR 95.2 MILLION AND
CONTRACT
ASSET OF EUR 63.0 MILLION LARGELY FOR 1H23 DELIVERY
    * FY ORDER BOOK GREW FROM 325 TO 1,474 BUSES INCLUDING 388
EBUSCO
3.0 ORDERS
    * OUTLOOK 2023: CAPITAL EXPENDITURE OF EUR 10-15 MILLION
FOCUSED
ON FUTURE GROWTH
    * OUTLOOK 2023: ONGOING GROWTH OF THE ORDER BOOK BASED ON
CURRENT
TENDER PIPELINE
    * MANAGEMENT EXPECTS ANOTHER SHARP INCREASE IN REVENUE, AN
IMPROVEMENT IN GROSS MARGIN AND A POSITIVE EBITDA
    * IN RELATION TO PRODUCTION RAMP UP, EBUSCO EXPECTS CAPITAL
EXPENDITURE OF EUR 10-15 MILLION IN 2023
    * KEY STRATEGIC PRIORITIES FOR REMAINDER OF YEAR: PRODUCTION
RAMP
UP INCLUDING ATTRACTING SKILLED PERSONNEL
    * KEY STRATEGIC PRIORITIES FOR REMAINDER OF YEAR:
OPTIMISATION IN
SUPPLY CHAIN TO IMPROVE PARTS AVAILABILITY AND GROSS MARGIN
    * KEY STRATEGIC PRIORITIES FOR REMAINDER OF YEAR: PRODUCT
INNOVATION TO DRIVE COMMERCIAL MOMENTUM
    * MEDIUM TERM OBJECTIVES : CONFIRMS OBJECTIVE TO PRODUCE
OVER
3,000 ZERO EMISSION BUSES PER YEAR AND ADDS THAT IT EXPECTS TO
REACH THIS LEVEL WITHIN NEXT FIVE YEARS
    * EBUSCO EXPECTS TO REACH AN EBITDA MARGIN OF 20-25% WITHIN
NEXT
FIVE YEARS COMPARED TO 35% PREVIOUSLY
    * MEDIUM TERM OBJECTIVES : EXPECTS TO REACH AN EBITDA MARGIN
OF
20-25% WITHIN NEXT FIVE YEARS COMPARED TO 35% PREVIOUSLY

Source text: bit.ly/40GU163
Further company coverage:  EBUS.AS 

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