Cabify, the chauffeured transport vehicle (VTC) services platform, recorded losses of 4.9 million euros in 2022 in Spain, compared to 346,000 euros the previous year, as reflected in the accounts deposited in the Registry. Commercial of the three companies that operate in the country. Cabify Spain, which operates the company's business in A Coruña, Santander, Madrid, Seville, Malaga, Marbella and Murcia, registered red numbers of 5.85 million, while Miurchi (business in Valencia, Alicante and Zaragoza) earned 571,000 euros and Prestige & Limousine (services in Barcelona and also its own fleet in Madrid and Barcelona) recorded a positive result of 315,000.
The platform obtained revenues of 199.5 million euros in its 2022 financial year in Spain, increasing its turnover by 27.5% compared to the previous year. The gross operating result in those twelve months was 11.5 million, 9.4% less than what was recorded in 2021. The net operating result was negative with red numbers of 2.48 million
The growth of Cabify's income as well as the losses of the main company corresponds to a higher level of investment in the national market in this period. With the rebound in sales, the company leaves behind the impact caused by the pandemic in the figures for the years 2020 and 2021, when the health emergency led to a worsening of the mobility business, according to a company statement.
The results for fiscal year 2022 also indicate an increase of up to 50% in the mobility company's tax contribution. After this increase, the amount of taxes paid by Cabify reached 21.6 million, the highest figure achieved by the company since its creation in 2011. The company also highlights that in the last four years it has paid 96 million in taxes in all over the world, 57 of them in Spain.
In 2022, the moratorium on what is known as Ábalos decree, approved in 2018, which gave city councils and autonomous communities four years to develop their own regulation for VTCs, and during that time they could continue operating to recover their investments. The employers of the Unauto VTC and Feneval sector requested a two-year extension but the Government did not agree. Cabify, through its subsidiary Vector Ronda, requested compensation for the losses caused by the Ábalos decree as the State's patrimonial responsibility, but the Supreme Court dismissed the appeal in August 2023.
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