ISTOBAL reaches turnover of 156 million euros in 2023

ISTOBAL reaches turnover of 156 million euros in 2023

VALENCIA, Spain — The group maintained solid profitability driven by its service line and improved operating margins in key markets.

VALENCIA, Spain — The ISTOBAL Group, a Spanish multinational in vehicle wash and care solutions, announced in a press release it has reached a total turnover of 156 million euros in 2023, recording a net profit of 7 million euros and an operating profit of 11 million euros.

With an EBITDA of around 14 million euros, the group’s profitability remains at around 9% of sales thanks to the growth of the services line and improved profitability in the main markets which has offset structural costs and investment in new subsidiaries.       

At the end of the year, the group accelerated its expansion in Europe with the opening of new commercial subsidiaries in France and Poland, responding to local market demands for a more direct approach in the multinational’s strategy to achieve greater operational efficiency.

In 2023, Iberia remains the main market for ISTOBAL, which has experienced sustained growth coupled with an increase in profitability and historic turnover figures in excess of 50 million euros. 

Consolidated growth of services as a lever for profitability

The business line with the highest turnover for the group continues to be the sale of carwash equipment, with rollovers leading the sales followed by services and consumables in second and third place respectively, stated the press release.

2023 has again been a year of growth for the wide range of services offered by the group, which aims to provide comprehensive care in the carwash business.

Over the last year this line grew mainly in markets such as Spain, U.K., Sweden, Italy and Brazil.

ISTOBAL foresees sustained growth in 2024

In 2024 ISTOBAL foresees a growth of the group marked by its commitment to international expansion focused on a model of direct sales and services in key markets for the company, continued the press release.

Its strategic plan focuses on capitalizing on new opportunities from its renewed portfolio aligned with industry trends which foresees growth in services and consumables, as well as the potential derived from equipment connectivity and its commitment to sustainability.

The group’s main focus will continue to be customer satisfaction together with the pursuit of efficiency and operational flexibility in order to consolidate its leading position at the international level while facing new challenges in the market.

You May Also Like

Kleen-Rite Missouri moves into new distribution center facility

COLUMBIA, Pa. — The new distribution center in Kansas City, Missouri, aims to enhance inventory and shipping efficiency for the region.

Kleen-Rite Corp.

COLUMBIA, Pa. — Kleen-Rite Corp. announced in a press release the opening of a distribution center facility at a new location in Kansas City, Missouri.

Replacing the previous distribution center, the new facility has more space to stock an expanded inventory selection and ship products faster in the region.

DRB appoints April Bertram as VP of product management

AKRON, Ohio — With over 30 years of experience in product innovation, Bertram joins DRB to shape the future of its product portfolio.

New detailing nonprofit to help underserved youth

LAGUNA HILLS, Calif. — Renowned automotive detailer Rigo Santana launched the New Generation Kids nonprofit to provide early training and career opportunities.

Splash welcomes Kathryn Rogers as chief financial officer

LITTLE ROCK, Ark. — Rogers brings extensive experience to Splash Car Wash, having worked with major firms and non-profits.

Splash Car Wash to build four new locations

LITTLE ROCK, Ark. — The Fayetteville Splash Car Wash opened in June 2024, featuring an express carwash tunnel with high-powered free vacuums.

Other Posts

Whistle Express opens Fairdale location with donation to hospital

FAIRDALE, Ky. — Celebration will include exclusive promotions, a $1 donation to Norton Children’s Hospital for every car washed and more.

Whistle Express car wash - magnolia holdings
The RipTide Car Wash acquires MILES Auto Spa

NASHVILLE — This strategic move enhances RipTide’s presence in the Southeast, particularly in the thriving Nashville market.

MILES Auto Spa logo
Lucas Oil facilities receive recertification for ISO 9001:2015

INDIANAPOLIS — Certification shows Lucas Oil’s commitment to quality proprietary solutions, regulatory compliance and customer satisfaction.

Hanley Investment Group arranges sale of new Mister Car Wash

MERIDIAN, Idaho — The Mister Car Wash property, constructed in 2024, features a 5,381-square-foot facility on a 1.04-acre parcel.