VALENCIA, Spain — ISTOBAL closed its 2016 accounts with a €17 million EBITDA, 16 percent more than the previous year, according to a press release.
With ten subsidiaries in Europe and America, the release continued, the group has increased its turnover by five percent, totalling €124 million in 2016 thanks to the good results of the main markets — Spain and France — and a relevant rise in sales in countries like Italy and the U.S.
This significant increment is explained by the boost to international expansion in recent years, the support given to the network of subsidiaries and distributors, and growing investment in innovation, the release added.
In the 2016 balance sheet, Italy ranks second as an export market after France, the country leading international sales, the release stated.
The evolution of sales in Italy is remarkable, the release noted, with a 90 percent increase versus the previous year following the consolidation of ISTOBAL Italy and thanks to a strong distributor network.
International sales accounted for 80 percent of the group’s overall billing in 2016; together with France and Italy, the U.S., Denmark and the U.K. rank among the top five export markets, the release added.
In Denmark, sales rose almost by 50 percent while in Britain and the U.S., sales increased by 40 percent and 30 percent respectively, compared to the previous year, the release noted.
As for the development of the sales subsidiaries, the release continued, the group’s delegations in Spain, Denmark, Great Britain, the U.S. and Austria, in that order, met the highest business targets.
Regarding ISTOBAL’s product range, the rollover division remains in the lead, turnover-wise, the release added.
Similarly, other products saw relevant increases, the release stated; this is the case with the ISTOBAL accessory line — thanks to the contract with MRH Limited — and the esens® chemical product range.
In 2017, ISTOBAL will continue implementing its expansion plan, seeking to make the most of the company’s potential for growth in the U.S., where its presence is already strong with commercial vehicles and with a growing market share in the car dealers’ sector, the release noted; the Spanish company will also reinforce its presence in Germany and will further consolidate the Middle Eastern market.
As regards product development, the focus on car care solutions offering better results and a more pleasant experience to consumers will be key for the company, together with ongoing development in digitalization systems, payment methods and communications, the release stated.
These strategies shall enable the company to reach a €130 million turnover in 2017, the release concluded.