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.
