Speaking with the STA, the company's boss Holger Postl attributed the growing sales to the penetration of West European markets with apron buses and coaches.

Most of the airside transfer buses last year were sold to Spain, while most tourist and school buses were delivered to Britain and Ireland. A further 25% increase in sales is planned for this year.

The company, which has been in operation since spring 2013 on the premises of the once proud bus and truck manufacturer, closed the year in the red due to financial restructuring and ownership reorganisation.

However, it hopes to break even in the future with the development and serial production of electric buses, a project for which it hopes to get the long-promised state subsidy.

Last week, the government formally approved a EUR 2m subsidy to Tam Europe for the development of innovatively-charged electrical buses, upgrading a previous decision from 2014.

The company is to get the money in 2016 and 2017 based on eligible costs and not as an advance payment. The costs and terms would be determined in an agreement, the Economy Ministry has explained.

Considering the company has been promised the subsidy for a while, Postl said that they were now back at the beginning with the government confirming a "decision taken twice before already".

He said that the company had already opened 210 jobs and invested more than EUR 20m over the past three years, so there was no question of whether it was capable of securing development.