Suiccessful Financial Year for Waberer's International

The management of the freight forwarding and logistics company Waberer's International may propose a dividend payment of HUF 100 per share, after the company closed last year with its highest EBIT (earnings before interest and tax) since its listing on the stock exchange, at EUR 33.3 million (almost HUF 13 billion), according to an issuer information published on the Budapest Stock Exchange (BSE) website on Monday.

The company increased its EBIT by 22.5% compared to 2021, with sales revenue of EUR 675.9 million (almost HUF 270 billion forints), up 14.1% year-on-year. Net profit fell year-on-year from EUR 18.1 million to EUR 16.2 million, but was up 31.8% in the final quarter compared to the same period in 2021.

According to the statement, the 2022 result is outstanding, and was achieved in difficult circumstances, as the company's operations were adversely affected by the Russian-Ukrainian war in several respects. A significant role in overcoming these challenges was played by the fact that a crisis-resilient group structure has been developed in recent years, it said.

CEO Zsolt Barna said the company had not only stabilized its operations, but had also opened up in new directions and prepared investments to support further growth. He explained Waberer's record performance by, among other things, unique services and a responsive organizational culture.

While demand for logistics services may fall due to a decline in residential consumption and industrial production, Waberer's will feel this less due to its high value-added logistics services, he added.

Management expects revenue growth again this year, based on the results so far. EBIT is likely to remain flat, but last year's one-off effect was helped by a EUR 2.7 million investment subsidy.

The freight forwarding and logistics company operates a fleet of 2,800 trucks and more than 250,000 square meters of warehouse space, giving it the largest logistics capacity in the region, the statement said.

Waberer's shares have been listed in the premium category of BSE since 2017. On Monday, they closed at HUF 1,845, having ranged between HUF 1,735 and 2,340 in a year.