VALENCIA, Spain — ISTOBAL, a leading Spanish multinational in automotive wash and care solutions, increased sales by 12% in 2022 to 163.9 million euros, according to its pre-audit results, the company stated in a press release.
The company, which last year internationalized 72% of its production, recorded an EBITDA of €14.8m, an increase of 2.3% compared to the 2021 financial year.
In 2022, Spain remained the main market for ISTOBAL and has grown by 11% in the last year.
The United States and the United Kingdom have become the main export countries for the group in terms of turnover, followed by Denmark, France and Italy.
Another new development has been the entry of Turkey into the top 10key markets for the company.
It is also worth mentioning other international markets such as Israel, which has experienced a 31% increase in turnover.
With regard to the group’s foreign subsidiaries, the growth of ISTOBAL Italy is particularly noteworthy, with increases of over 44%, thanks in part to the country’s National Industry 4.0 Plan, which has boosted sales of connected washing equipment.
Brazil, Portugal, Denmark and the United States were also among the subsidiaries that increased their turnover the most, with increases of more than 20%.
An increase in the turnover of services in the U.S., the increase in agreements with large accounts in Denmark and the Railway projects are some of the reasons behind the positive evolution of its subsidiaries.
Other subsidiaries with notable growth were the UK, thanks to agreements with major accounts and private clients, and Sweden, which boosted its sales in the private sector and industrial laundry.
12% growth in the services line
The business line with the highest turnover for the group continues to be the sale of machinery, with the leading sales of washing bridges, while the service and consumables lines (such as chemical products) occupy second and third place, respectively.
2022 was also a year of consolidation for the wide range of services offered by the group to provide comprehensive care in the carwash business.
A line of business that has increased by 12% compared to 2021, with Spain, the U.S., Denmark, Italy and UK being the markets where the provision of ISTOBAL services has grown the most.
Another trend was an 8% increase in the private carwash market compared to the previous year.
ISTOBAL foresees sustainable growth in 2023
ISTOBAL foresees sustainable growth in 2023 in its commitment to internationalization, connectivity, innovation and sustainability with a renewed offer of products and services aligned with the mega trends of the sector and its needs.
Its strategic plan for the coming years envisages increasing turnover in the countries where it is already present, mainly in the U.S. and China due to their great growth potential, as well as opening up new markets in other parts of Asia.
With 10 subsidiaries and four manufacturing plants in Europe, America and Asia, ISTOBAL is currently the second largest manufacturer of carwash solutions in Europe and the fourth largest in the world, the press release stated.
ISTOBAL’s Technical Assistance Service offes predictive maintenance and remote assistance of its equipment to ensure the fastest and most efficient maintenance possible.
The group said it will continue to focus on service orientation, as well as operational agility and flexibility to consolidate its international leadership and meet new market challenges.
All this, through a 360-degree product and service offering, to generate high profitability for the carwash business and high added value for users.
