Waberer's Revenues Increase in the Third Quarter

The trucking company Waberer's International's revenue in the third quarter of 2022 increased by 18.1% year-on-year to EUR 174.6 million, while in the first nine months of the year, the group's revenue was EUR 506.7 million, 15.1% higher than in the same period of 2021, the company said on Monday on the website of the Budapest Stock Exchange (BSE).

Quarterly revenue increase reflects 27.1% growth in the ITS and 14.8% in the RCL segment, while revenue of Other segment decreased by 13% on a year-on-year basis caused by - similarly to the previous quarter - the depreciation of HUF compared to EUR. Revenue increase of logistics related segments is partly due to the more favorable service prices and due to the contract-based price correction effect of the fuel price increase, while the Company is still very successful in reflecting the hectic changes of operating costs (energy, wages, spare parts costs, etc.) in its service prices, the report says.

Due to the financially successful operations of the Group and the stable financing background, the Board of Directors of Waberer’s has decided that – in case there is no significant deterioration in the business environment in the coming months – it will propose to the General Meeting the payment of dividends to the shareholders based on the results for the financial year of 2022. Dividend payment is subject to legal and contractual limitation – in particular, to the covenants of the recently issued corporate bond. The exact dividend amount will be decided later.

Zsolt Barna, CEO of Waberer's International Plc. commented in the report that “during the third quarter of 2022, some of our European and domestic customers have already felt the first signs of a slowdown in retail consumption, which is reflected in lower level of logistics demand, but as a result of a well-diversified customer portfolio and a strategy focused on Key Account customers, the financial results were not negatively impacted during the quarter. Based on feedbacks of our customers, the remaining part of the year is unlikely to see a repeat of last year's high levels of turnover, when we were able to keep a significant number of vehicles on the road even during the low-season of year-end holidays. However, as we are relatively close to the year-end, it now seems realistic to reach the highest Group level EBIT of the last 10 years, providing further evidence of the Company's successful strategy.