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Ebusco announces closure of Australian operations

BREAKING – Ebusco is turning to vehicle assembly as it streamlines productions, including shutting its Australian activities

International bus and coach manufacturer Ebusco has announced that it’s “reducing commercial activities outside of Europe” and officially closing operations in Australia.

The decision was made as part of its full year results for the 2023 financial year, with the electric bus brand recording an Earnings Before Interest, Taxes, Depreciation and Amortisation (EBITDA) loss of 95.7 million Euros last year.

This resulted in a net loss for the year of 120.1 million Euros.

In its full year result report released to shareholders this week, Ebusco said it has “taken several steps to structurally lower our employee and other expenditures”.

“As part of an adapted assembly strategy, we have already reduced our workforce,” the company says.

“The decision was also made to reduce our commercial activities outside of Europe.

“The results of these actions should start to become visible in the operational results as of the second quarter.”

This financial loss comes as Ebusco’s order book continues to grow from 1,474 to 1,719 at the end of last year.

To combat this, Ebusco has also announced it has switched to a new business model when it comes to manufacturing, with the latest Ebusco 3.0 model now being built in China.

“Key leadership decisions to improve the predictability and operational performance of Ebusco resulted in an adapted assembly strategy to scale up our production with the support of third-party assembly partners,” Ebusco says.

“Our partners have a long track record in bus assembly, providing them good access to skilled labour and allowing Ebusco to leverage on their existing supply chain and suppliers.”

Alongside these changes, Ebusco has also introduced a new leadership team to navigate the coming years.

Jurjen Jongma as chief financial officer, interim-co CEO Frank Meurs and chief operating officer Roald Dogge have all formed a core for Ebusco into the future.

The focus will be on its premier model and rebuilding globally.

“Despite the challenges we faced in 2023, the main highlight remains the operational performance of the Ebusco 3.0,” Ebusco says.

“We have to do better, we can do better and we have taken the necessary management actions. We owe this to our employees, customers, suppliers, shareholders and other stakeholders and I am grateful for their continued trust and patience over the past year.”

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