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MADRID, 14 Jun. (EUROPA PRESS) -
Applus has closed the sale of its oil and gas business in the United States to Ten Oaks, a family investment group based in the country, the company reported on Wednesday.
This divestment was announced by Applus on March 30 and was subject to a series of conditions that have now been met.
Following this operation, the group expects its margin for this year to increase by more than 60 basis points compared to last year and before the accelerated depreciation of its Idiada division.
Applus' oil and gas business in the United States generated a turnover of 101.8 million euros in 2022, with operating losses.
In the past six months, the company has announced three divestments of non-core operations.
Since the announcement of its strategic plan in November 2021, Applus has made nine acquisitions and has bought the 20% that it did not already own of the remaining minority stake in the vehicle technical inspection business in Galicia.
In total, up to now, Applus has invested more than 140 million euros in strategic areas of its portfolio to improve its service offer towards "more sustainable, faster-growing and better-margin" businesses, the company highlighted.
