HVAC supplier Hispacold saw its turnover increase 28.6% to €46.3 million in 2021, compared to €36 million the previous year, “thanks mainly to growth in its railway market and in the electromobility segment (e-bus). With this growth, Hispacold has now returned to its pre-pandemic revenue levels”, the company says. In 2022, they expect to see turnover of over €50 million.

In mid-2021 Hispacold announced it has achieved the highest quality assurance rating offered by certification body IRIS (ISO/TS 22163) – the recently created Silver level – after renewing its IRIS (International Railway Industry Standard) certificate for performance quality.

Hispacold growth thanks (also) to e-bus business

In addition to the growth of its rail division, Hispacold says it “has increased its customer base in the bus and coach segment, thanks to its efforts in the last three years, which includes companies such as Alexander Dennis, Alstom-Aptis (editor’s note: the project was halted), and Volvo Polska. The company has also continued to regularly supply air conditioning systems to its more established European customers — Irizar, Van Hool, Iveco, MAN Turkey — as well as to customers on other continents, such as Scania Australia and the Irizar Group’s international plants”. 

hispacold turnover 2021

From 2014 until the outbreak of the Covid-19 pandemic, Hispacold had been showing sustained growth, reaching its highest point in 2019 with turnover of €46.8 million, 20% more than the previous year. After a sharp market downturn in 2020, the company returned to its pre-Covid numbers in 2021 with turnover of €46.3 million. In 2022, the company expects to see turnover of over €50 million, which would be a new all-time record in a time of difficult economic conditions. 

Hispacold: focus on North America

Having operated in the Mexican market for more than two decades, Hispacold “also intends to increase its presence in North America as its customer base (Irizar, ADL and Van Hool) expands in that market: Irizar with coaches, ADL with 12-meter double-decker buses, and Van Hool with buses and a new discretionary coach. Other strategic markets for the company’s expansion in the coming years are South America, Australia and Turkey“. 

hispacold turnover 2021


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