See how all of Mate Rimac’s companies performed in 2024

The Rimac Group increased its revenues by 40.9 percent last year. Of the 154 million euros in revenue, 141 million comes from Rimac Technology, while the remainder is attributed to the holding company. At the same time, losses more than doubled. Rimac Technology reduced its negative balance from 68 million euros to 65 million, but Rimac Group increased its loss from ten million euros to 95 million.

According to annual financial reports, both companies had a total of 1,183 employees last year, which is 45 fewer than the previous year. The average salary in Rimac Technology fell by 3.7 percent (from 1,869 euros to 1,800 euros), while in Rimac Group it fell by 12 percent (from 1,808 euros to 1,592 euros).

When looking at operational performance, EBIT for Rimac Technology was also negative, at -66.4 million euros, and when depreciation is disregarded, EBITDA was -39.3 million euros. Rimac Group performed positively in this category: EBIT was 543,784 euros and EBITDA was 625,295 euros.

The company Bugatti Rimac operates outside the group, so we view its results separately. Revenues nearly halved last year – falling from 150 million euros to 77 million, while losses increased 8.6 times – from 23 million euros to as much as 193 million. The number of employees increased by 24.8 percent (from 483 to 603), and the average salary decreased, as in Rimac Group, by 12 percent (from 1,808 euros to 1,592 euros). Here too, EBIT was negative, at -202 million euros, as was EBITDA (-118.7 million euros).

It should be noted that these are not consolidated results. However, there should not be significant deviations in Rimac Group, but for Bugatti Rimac, things could change when considering the results of Bugatti Automobiles in France. For example, in 2023, Bugatti Rimac in Croatia achieved 150 million euros in revenue and 23 million in losses, while the consolidated results with operations in France rose to 307 million euros in revenue, and the loss was turned into a profit of eight million euros.

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The robotaxi project has a different ownership structure and also operates outside the group, but both Rimac Group and Mate Rimac have ownership stakes. Project 3 Mobility, now known as Verne, increased its revenues by 84 percent last year (from 1.06 million euros to 1.95 million), but also its losses by nearly 70 percent (from 13 million euros to 22 million). The number of employees increased by 21 percent (from 87 to 105), and the average salary rose by 3.1 percent (from 3,029 euros to 3,123 euros). EBIT was negative, at -23 million euros, as was EBITDA, at -22.5 million euros.

Mate Rimac holds a minority ownership stake (19.82 percent) in the vegetable-growing company Moj gruntek and has no management functions. His only company outside the automotive industry showed the best business results last year. Revenues more than doubled – from 321 thousand euros to 821 thousand, the number of employees doubled from five to ten, and a loss of 377 thousand euros was turned into a profit of 248 thousand euros, with EBIT of 247,449 euros and EBITDA of 260,542 euros.