Ebusco's annual results for 2024 reveal a staggering 89% revenue drop to €10.7 million, following the cancellation of bus contracts that resulted in a €16 million reversal of previously reported revenues. Despite an initial revenue claim of €38 million in interim reports, the financial health of the company deteriorated, marked by €132.6 million in EBITDA losses and a €200.8 million net loss. The company plans a significant turnaround by consolidating operations and shifting to outsourced production. A recent capital raise of €36 million reflects efforts to regain liquidity and stability.
Ebusco’s total revenue dropped 89% in FY 2024, highlighting the severe impact of canceled contracts and financial challenges facing the company.
The decision to consolidate operations and shift production models underscores Ebusco's strategic efforts to regain stability following significant financial losses.
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