NFI reports USD117m loss in 2023
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By Bradley Osborne - 24th April 2024
Canada – NFI Group Inc, the parent of several bus and coach brands1 based in Winnipeg, Manitoba, announced sales revenues of just under USD2.7bn in 2023, a year-on-year increase 30% compared to revenues of just under USD2.1bn.
The group reported a net loss for the second year in a row, reporting an adjusted figure of negative USD116.8m. This is an improvement, however, on the USD164m net loss figure reported the year before (+27%). In fact, the group’s adjusted earnings before interest, taxes, depreciation, and amortisation (EBITDA) were positive, improving by 220% year-on-year (from negative USD59m to USD69m).
