Producing automotive fuel tank venting systems.
Raval enters 2026 with better margins and a more comfortable balance sheet, but most of its future backlog already sits in the lightweight-components business that still has not proven stable profitability or smooth cash conversion.
Raval improved cash flow and bank-facing leverage in 2025, but after investment, dividends, and lease-principal repayment only about EUR 14.9 million remained, while Lightweight Components still needs more working capital and the covenants do not include IFRS 16 effects.
Raval’s Lightweight Components backlog proves demand and long-duration customer programs, but it still does not prove that the segment has crossed into a stage where large volume translates consistently into margin and cash.
