Buses manufacturer Ebusco, which is in difficulty, has seen sales decrease sharply in the first half of the year. The Deurne company did, however, succeed in reducing the net loss.
47 buses were delivered in six months and the company was good for more than 28 million euros in turnover. In the first half of 2024, sales amounted to 38 million euros. The net loss fell from almost 65 million euros to more than 46 million euros.
“In recent months, the board has mainly focused on securing the survival of the company. Important steps have been taken to get Ebusco back on track,” say drivers Michel van Maanen and Peter Bijvelds. For example, the number of jobs at EBUSCO has been reduced by a third year to save costs.
On Monday, a shareholders’ meeting will be on the agenda on the restructuring of loans. Ebusco already warned that the company still needs more money to survive.
After delivery problems, Ebusco came in acute shortage of money last year when carrier Qbuzz canceled an order. In November, the company was saved from ruin for the time being after the issue of shares yielded tens of millions. This year Ebusco was almost bankrupt again, after a supplier for unpaid accounts submitted a bankruptcy application for the company. After millions of euros came in from a lender, that application was withdrawn.
The board does see bright spots. That buses have been delivered again would be essential to regain the confidence of customers.