Rába automotive division hit by substantial losses in 2020
Fotó: Rába Csoport
The Rába Group reported on HUF 267 million in post-tax losses in Q3 2020, a marked improvement over the company’s Q2 performance, when losses exceeded HUF 1bln, and year-on-year results compared to Q3 2019, when Rába registered a HUF 429 deficit, it was revealed in a flash report published by the company earlier this week.
According to the consolidated, IFRS-compliant report published on the website of the Budapest Stock Exchange, the company was hit by HUF 2.168 billion in losses in the first nine months of 2020, a sharp contrast over the HUF 425 million profit registered in the same period last year.
In contrast, the Rába Group reported on an operating profit of HUF 64.9 million in the third quarter this year, showing a significant improvement over the operating loss of HUF 36.5 million registered in Q3 2019.
