“Based on the current production in Deurne and the development at our assembly partners, Ebusco narrows its revenue guidance for the full year 2023 to arrive in the range of EUR 145-155 million, which reflects the lower half of the guidance as provided at the Q3 update. Operational expansion outside of Deurne is on track with the first serial produced 3.0 buses successfully assembled at our assembly partners in China and ready to be shipped this year. Furthermore, the first cascos based on a local supply chain have been completed at our assembly partner and the commencement of production at our plant in Rouen is on track”. These information have been recently released by the Dutch manufacturer itself. The company “expects a significant improvement of EBITDA in 2H23 compared to 1H23”.

Ebusco expects positive EBITDA in 2024

The Dutch company is facing a though time on the stock exchange: its shares have today a value of 5.02 €, and witnessed a -63% decrease in the last 12 months. The loss compared to the time when the company went public (October 2021) is -77%, as Ebusco’s shares value at that time was around 23 euros.

In June 2023 Ebusco said that supply chain issues and labour shortages were still affecting the business, and the Dutch group was pushing to accelerate the scale-up of its production capacity with the help of three assembly partners in Europe and abroad.

Ebusco expects revenue to be in excess of EUR 300m for the full year 2024. And expects to achieve a positive EBITDA for the full year 2024. In the first half of 2023, according to CME Chatrou Solutions data, Ebusco had registered 121 e-buses.

As of the first quarter of 2024, “Ebusco will implement cost measures that have been developed in recent months to lower its indirect cost base and bring the direct cost base in line with the adapted assembly strategy”, the OEM says.

To cover the working capital need in relation to the 2024 guidance, Ebusco is launching an accelerated bookbuild offering and concurrent convertible bond private placement. Ebusco will convene an extraordinary general meeting on 29 January 2024 to request the required shareholder approvals. 

Highlights

Solaris Urbino 18 hydrogen has been elected Bus of the Year 2025

The international Bus of the Year jury has awarded the title of Bus of the Year 2025 to the Solaris Urbino 18 hydrogen. This marks the second title for a Solaris vehicle and the first time in the competition’s history, which has been held since 1989, that a zero-emission hydrogen-powered vehicle has...

Related articles

Altas Auto and Zhongton: Novus City V7 is now available for order

After a year of road testing, Altas Auto has finally completed tuning work on its urban electric, the Novus City V7, made in collaboration with Chinese Oem Zhongtong. A model that in recent months we have had the opportunity to get to know closely. The Novus City V7 from Altas Auto The Lithuanian ma...