Orbea grew 41% in 2021 after reaching 282 million euros

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Orbea-invoicing-2021—ok-bis

In 2021, Orbea expanded its structure by 170 new jobs that have become part of its group. With this, the Basque firm is also accelerating the trend of attracting international talent.

(8-5-2022). Orbea managed to complete its sixth year of growth in 2021, so that the 282 million euros transferred meant it increased its 2020 results by 41%. The Basque company created 170 jobs and by 2022 it intends to invoice 350 million of euros.

Orbea continues to consolidate its progress year after year, despite the difficulties entailed by the current scenario of the international cycling market. The Basque company reported at its annual meeting held yesterday, Saturday, May 7, that last 2021 it had a turnover of 282 million euros. That figure would have meant a growth of 41% in relation to the 200 million that, according to the company said last year, it had invoiced in 2020.

The bulk of its turnover in 2021 (81%) came from foreign markets.

PROFITS OF 40.7 MILLION

After taxes and reconversions, Orbea reaped profits of 40.7 million euros, which implies, according to a company statement, “a significant strengthening” of its own resources, which will allow it to “securely face all the projects that the company plans to approach to continue conquering positions in the market”.

Among these projects, Orbea points out the expansion of its manufacturing and logistics capacities, as well as the development of cutting-edge technological solutions, and increasing the competence of the people who are part of its workforce.

CLOSE TO 1,000 EMPLOYEES

Precisely, Orbea created a total of 170 new jobs in 2021, 80% of which were generated in the Basque Country itself. Those 170 new jobs allowed him to consolidate a workforce of nearly 1,000 workers.

In the company’s statement, it also highlights that the cooperative nature of the company has allowed it to “adapt better and more flexibly to the new global scenarios”.

OBJECTIVE 2022

After 2021 in which Orbea allocated 20% of its profits to the “different solidarity and social action funds that the cooperative has regulated”, for this 2022, it is proposed as a billing horizon to grow 24% until it is around the 350 million euros.


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