Orbea sets lofty 2022 target on the back of investments

Orbea has issued an operational update on its progress, within which the company revealed a sixth consecutive year of growth and a sales revenue of €282 million.

Driven largely by exports, worth some 80% of the Basque firm’s trade, Orbea recorded a €40.7 million post-tax profit, which has bolstered the firm’s cash at hand. This, says Orbea, strengthens the company’s ambition as it continues to invest.

“This will allow the company to effectively accomplish all its projects in the pipeline and continue to have a leading position in the market. This includes ongoing investment in the expansion of manufacturing and logistics capacities, the development of technical, cutting-edge solutions, and growing the skillset of its workforce,” wrote Orbea, adding “It should also be noted that 20% of the results were dedicated to the different charitable and social action funds that the cooperative supports.”

We’re now told that the next target is in view – a €350 million revenue for 2022 – and that this is deemed achievable despite well-documented supply chain obstacles. It is here that investment into the business is hoped to pay off; the firm speaks of “transformational change within its systems, processes and facilities” in a bid to meet the challenge head on.

Another part of the the manufacturer’s investment has been into talent acquisition. The workforce is now said to be on the cusp of 1,000 people, 90% of whom are based in Europe. 2021 alone saw the addition of 170 new jobs.

Orbea added on it’s ongoing investment: “This will allow the company to effectively accomplish all its projects in the pipeline and continue to have a leading position in the market. This includes ongoing investment in the expansion of manufacturing and logistics capacities, the development of technical, cutting-edge solutions, and growing the skillset of its workforce.”

The headline data was presented at Orbea’s annual assembly, held on May 7th at the Ermua, Spain facility.