Orbea

Orbea closes 2015 with €75m turnover

2016-05-12

On April 15, Orbea Sdad. Coop held its annual General Meeting, reporting sales of over 150,000 units and a consolidated turnover of €75m, a 4% improvement over 2014.

Orbea extended its trading into more than 60 markets during 2015 and concluded a detailed asset-restructuring process that the company began in 2014.The meeting included a presentation of the Management Plan for 2016, which estimated further growth exceeding 4% in sales and 28% in operating profit.

The partners attending the General Meeting also made decisions geared toward ensuring the brand’s competitive positioning and strengthening equity within the cooperative. Another important action was the approval of an infrastructure plan to restructure, modernise and improve the efficiency of the Mallabia plant.

An outstanding first quarter

Exceptional first-quarter performance, indicates growth scenarios generated by the cooperative may actually be on the conservative side, as Q1 turnover was 4.8% higher than anticipated, improving by 10% over the same period in 2015. Strong sales have required the creation of 43 more jobs, compared to the same month last year, mostly local employment at the company's Mallabia facilities.