The Spanish multinational, leader in vehicle wash solutions, is focusing its new business model on a greater commitment to direct sales in key markets.
With EBITDA of around EUR 14 million, 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 car wash equipment, with car wash bridges leading the sales, followed by services and consumables in second and third place, respectively.
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 car wash business. Over the last year this line grew mainly in markets such as Spain, UK, 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.
Its strategic plan focuses on capitalising 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 international level, while facing new challenges in the market.
ISTOBAL, leader in the car wash and car care sector
ISTOBAL is a Spanish company based in Valencia, Spain, leader in the design, manufacture and marketing of car wash and car care solutions. Since 1950, the company has provided the sector with innovative products for excellent vehicle care that guarantee an excellent user experience for its users.
The group exports its products to more than 80 countries, working with an extensive network of distributors around the world. With twelve subsidiaries and four manufacturing plants in Europe, America and Asia, ISTOBAL is currently the second largest manufacturer of car wash solutions in Europe and the fourth largest in the world. Currently, 70% of its production corresponds to international sales.
