Norbolsa : The company presented its 1Q23 results last Friday, achieving a 29% improvement in sales on 1Q22 and slightly above consensus expectations (+1% versus 1Q23 expected) (€952m versus €862m estimated), highlighting the increase in bus sales (+35% versus 1Q22), although margins continue to be weighed down by the Solaris units affected by the inflationary context.
In this regard, the company notes a slight improvement in the bus supply chain, although they confirm that difficulties continue to affect the pace of delivery of units. The company’s operating margin stood at 4.6%, a slight improvement compared to 4Q22 (4.2% in 4Q22 and 4.8% in 1Q22).
