The head of Cabify in Spain, the company Cabify Mobility International, recorded revenues of 2.4 million euros in 2019, 31% less than in the previous year, while the net result showed losses of 34.1 million euros. euros, compared to the 209,000 euros it lost in 2019, as recorded in its annual accounts deposited in the Mercantile Registry.
The main cause of this increase in losses is loans with group companies due to the reordering of investments in Latin America.
The operating result was negative by 739,000 euros, compared to the negative 452,000 euros recorded in 2018.
Until 2017, Cabify Mobility International was in charge of managing the shares of some of its international subsidiaries, such as those in Mexico, Brazil, Portugal, Chile, Peru or Japan, among others.
In January 2018, it became the sole partner of the Spanish company, and only has the parent company based in Delaware (USA), Maxi Mobility Inc.
From Cabify Mobility International corporately hang Maxi Mobility Spain, Mobilitas Futurus, Movo Miau Miau Internacional, Murchi Car and Global Turner.
The first is the one that records the activity of the passenger transport platform through concerted transport vehicles (VTC).
In 2019, the platform reached profitability for the first time in its history, with a profit of 2.7 million euros.
Its sales reached 223 million euros, which represents an increase in turnover of 54% compared to the 2018 figure, which stood at 144.8 million.
Regarding the company's taxation, while the parent company does not pay corporate tax due to losses, Cabify Mobility International increased its taxation by 60%, reaching 12.8 million euros, of which 8.3 million correspond to Personal Income Tax and Social Security.
The firm has consolidated the net contribution in VAT, doubling the volume of collection, and for the first time generated a positive tax base in Corporation Tax.
The head office staff structure is minimal, with only 12 employees, while the VTC platform had an average workforce at the end of 2019 in Spain of 400 employees.