Waberer’s Acquires 70% Stake in GYSEV CARGO

WABERER’S INTERNATIONAL Plc. has announced that it signed a sale and purchase agreement this Monday to acquire a 62.5% stake in GYSEV CARGO Plc. and committed to a further capital increase in GYSEV CARGO after the closing of the transaction – in the expected value of cca. HUF 2 billion – to develop the railway logistics infrastructure, as a result of which Waberer's stake will increase to 70%. GYSEV Plc., as the current 100% owner of GYSEV CARGO, will keep its 30% stake after the transaction.

GYSEV CARGO is Hungary's second largest rail transportation service provider and is able to offer rail transport services in Hungary directly and through its 100% Austrian subsidiary, Raaberbahn Cargo Gmbh also in Austria, partly with its own and with rented fleet.

GYSEV CARGO operates the container terminal in Sopron in the Western part of Hungary at the Intermodal Logistics Service Centre (owned by GYSEV Zrt.). In addition, GYSEV CARGO will operate the intermodal container terminal at the Debrecen-Macs Industrial Park railway station, while GYSEV Zrt. manages the assets of the facility. GYSEV CARGO and Raaberbahn Cargo together achieved an EBIT of HUF 598 m and a profit after tax of HUF 544 m in 2023 on a turnover of HUF 28.4 bn.

Closing of the transaction is expected at the end of the first half of 2025, subject to the fulfilment of the conditions set out in the sale and purchase agreement and the completion of the usual Hungarian and Austrian regulatory procedures.