Cabify is going through difficult days in Barcelona, where taxi drivers have revolted – once again – against the activity of VTCs (vehicle transport with drivers). It’s a battle the mobility company’s CEO, Juan, expressed on Wednesday. … Antonio. “Barcelona is a city that carries a lot of weight for our business in Spain, but it falls well short of its potential and the current regulations fall short of what the city requires.” The director stressed that although the number of visitors to Barcelona has multiplied by six in recent years, the number of vehicles that can provide discretionary transportation has not increased. “It is a very important city and we will continue to work side by side with the authorities to put it in the place it deserves,” Di Antonio stressed.
In a meeting with the media at the company’s headquarters in Madrid, the Cabify founder also ruled out going public in the short term. “Going public is an option, it is not a requirement of ours,” said De Antonio, who stressed that if the company’s securities are put on the market, it will do so in Spain.
Cabify has not yet reached its profit target, but the EBITDA result in 2023 was slightly positive, according to the company’s CFO, Juan Barbola, who did not want to reveal the figures on Wednesday due to the fact that the accounts were not filed with the commercial register. However, it revealed that gross profit reached €103 million, 40.9% higher than in 2022.
Juan de Antonio emphasized that this is the best year in history in terms of business for the mobility company. Billings grew 30.7% to around €830 million ($888.1 million) globally, following the trajectory of the past two years of rising 32% in 2022 and 44% in 2021. Spain saw a 32% increase and Latin America 29%.
Increase staff
Thanks to these efforts, Cabify increased its workforce by 22% to exceed 1,200 employees at the end of 2023. About half of them (about 46%) work at its headquarters in Madrid, while the other 54% work locally from different markets where it is located or remotely.
In terms of growth in terms of helpful drivers and taxi drivers, the progress reached 20% globally and there were more than 310,000 drivers around the world who took at least one Cabify-connected trip over the past year.
Regarding the tax contribution, Cabify, based in Delaware (USA), confirms that it works with “local companies in all the countries in which it is present” and therefore pays “locally” the taxes corresponding to its activity.
The company continues to expect to achieve a completely carbon-neutral fleet by 2025 in Spain and 2030 in Latin America. At the end of 2023, it announced the purchase of 200 100% electric cars in our country, which received financial support from the European Investment Bank (EIB). In Latin America, the company continues to advance through the strategic alliances it has concluded in recent years that will allow it to continue integrating hybrid and electric vehicles into the fleet.
(tags for translation) Juan
