Waberer’s Q2 revenue hits €150 million; company to seek more foreign drivers

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Hungarian road transport firm Waberer's has announced Q2 2021 revenue of €150 million - up 29.8% compared to the same period last year. The company's management says the results are a continuation of a positive trend that started in the second half of 2020.

Waberer’s Q2 revenue hits €150 million; company to seek more foreign drivers
Photo credit: Waberer's

In a statement released on Friday, Waberer’s said it had increased its revenue by 29.8% in the second quarter of 2021 on a year-on-year basis. Results in Q1 and Q2 combined show that the company achieved a total revenue of €292.3 million.

The latter figure represents a much more modest increase of 1% compared to 2020. However, the increase was achieved despite the fact the company’s fleet is now 44% smaller.

When it comes to earnings before deducting interest and taxes, the company raked in €12.2 million in the first 6 months of 2021. This is a significant improvement over the losses the company made during the first half of 2020.  As a result, the company has reduced its debts by over €63 million compared to the year before.

As for Recurring Net Income, Waberer’s reached €8.8 million in the first six months of 2021, a €22.9 million improvement compared to the first half of 2020.

Barna Erdélyi, CEO of Waberer’s International Nyrt, had the following to say regarding the figures:

“I am very pleased that the positive trend at Waberer’s Group – which started in the second half of 2020 – continued in the second quarter of 2021. Our Group level profitability rate – in terms of EBIT and Net Income margin – in the quarter reached the level of the successful years of the mid 2010s.”

Waberer’s adds that its management believes the company’s operational model is working. Management also believe that the group level profitability rate is approaching the level that is achievable from the current operational model.

Moreover, in its statement, Waberer’s confirmed its intention to hire drivers from countries bordering Hungary:

Moreover – as a result of the generally growing demand for labour – we need to pay special attention again to maintaining the necessary size of driver pool essential for our operations. This includes seeking colleagues for open driver positions from neighbouring countries to enable us to provide a smooth operation to our customers.”

Photo credit: Waberer’s

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