Waberer's: Strong Start to the Year

The transport company Waberer's International's revenue rose by 11% to EUR 176.4 million and earnings before interest and taxes (EBIT) by 146% to EUR 11.2 million in the first three months of the year compared to the same period last year, according to a financial report and a press release published on the Budapest Stock Exchange (BSE) website on Monday.

The main contributors to the group's profit growth were the performance of the international transport and insurance segments, as well as more favorable energy costs, they said.

Revenue in the international transport segment (ITS) rose by 16.9%, the regional contract logistics segment (RCL) by 3.6% and the insurance segment by 1.4%.

The financial result showed a profit of EUR 600,000 euros in the first quarter, after a loss of 2 million euros in the same period last year. In the first three months of the year, the company recorded an unrealized financial gain of EUR 2.2 million due to the strengthening of the forint. 

Regular net profit increased to EUR 10.4 million in the first quarter of 2023, an improvement of EUR 8.7 million compared to the same period last year.

CEO Zsolt Barna said in the company's statement that the good first-quarter numbers confirm this year's plans, with the company expecting moderate revenue growth under conservative planning. Meanwhile, EBIT excluding one-off items could exceed last year's EUR 33.3 million, which excludes the one-off positive financial impact of the out-of-court settlement with a truck manufacturer announced in April.