Orona increases revenues

Orona, the Basque Company specialized in urban mobility solutions headquartered in Hernani, approved its 2016 financial statements at its Annual General Meeting.

The “Orona-UE” project was also presented to the Assembly –a program that strengthens the cooperative’s commitment to keep growing in Europe, where it already has more than 1,500 employees. In this context, Orona has recently acquired Myhre Heis AS, an Oslo-based company which spans 38 years of experience in the industry. By welcoming the Myhre Heis team, Orona expects its revenues to be in the range of €27 million in Norway, where Orona already has 9 offices and close to 130 highly qualified professionals.

Investment around €33 million

The cooperative generated €652 million in revenues in 2016, up 6.71% compared to 2015. More than half of these revenues, 382 million, came from international markets. EBITDA reached €112 million –a very similar figure to that of 2015– and the investment was around €33 million. The company continued its commitment to invest 2% of its revenue in R&D.

For Orona, services represent an essential line of business, amounting to more than half of its revenues in 2016 (€350). On the other hand, the equipment dispatched throughout the year amounted to 12,720 units.

Orona’s Annual General Meeting also analyzed the trajectory and future prospects of the expansion of its Hernani facilities, which was launched last spring. Through the "Fabrika 4.0" project, the company has installed an intelligent manufacturing system, which seeks to create jobs and improve competitiveness as a fundamental key to the future.

www.orona-group.com