Commercial vehicle maker Rába posted higher-than-expected revenues but lower-than-expected net result in the first quarter of the year. The company's operating income practically matched the consensus forecast.
Rába posted group sales of HUF 10.6 billion in January-March, a 42% rise year on year. Revenues in the dominant axle division rose by 62% in dollar terms, while the operating profit narrowed to HUF 830 million from HUF 1.5 billion in the same period a year ago.
Rába's net loss was HUF 1.524 billion during the quarter, compared with a net profit of HUF 2.732 billion a year ago, while its operating loss fell to HUF 983 million from HUF 1.818 billion in January-March 2004.
A trend of more favourable character continues, with demand rising in both the European and the U.S. commercial vehicle industry. This resulted in a rise of margins on group levels.
Nevertheless, looking at the past three quarters there is no significant change: a higher production volume only reduces losses, and a more significant strengthening of the dollar would be necessary to retain profitable operation.
Charting is displayed using TradingView's technology, a platform, where you can build advanced charts,
spot upcoming trends in the stock screener, and find inspiration in multiple trading ideas
