Waberer’s International published its Q3 financial report on 5 November, reporting a 7.9% increase in revenue in the third quarter of 2021 on a year-on-year basis and reached EUR 147.8 million. However, the figures compared to the previous quarter (Q2 2021) are 1.4% lower – due to “seasonal patterns” such as summer holidays and seasonal production decrease at some factories, the company’s financial report reads.
Also, both recurring EBIT and quarterly EBIT increased: recurring EBIT reached EUR 6.6 million in Q3 2021, which is a EUR 5.4 million improvement compared to Q3 2020. Meanwhile, year-to-date recurring EBIT increased by EUR 20.3 million compared to the first nine months of 2020 and reached EUR 18.9 million.
The company says the quarterly EBIT increase is mostly attributable to the International Transport Segment (ITS).
Rise of the International Transportation Segment
Waberer’s International Transportation Segment revenue increased by 13.8% in the third quarter of 2021 compared to the same period in 2020. The average active fleet size was slightly lower than in previous quarters, as the company was still trying to find the optimal fleet and driver size. Given that revenue increased significantly, Waberer’s might have found the right balance here.
However, the reason for the increase is not merely based on the size of the fleet. The company attributes the success to the new strategy launched in the middle of the previous year; focusing on customers with higher quality requirements and services with more added value.
The first nine months of revenue exceeded the equivalent period last year by 2.2 % in the ITS segment, show the figures.
“We have managed to stabilize the Group level profitability and as a result of the further improvement of the ITS segment – which provided several challenges in the previous year-, the cumulative first 9-month segment EBIT also turned positive, so the positive results of the historically successful RCL and Other segments are even more visible also on the Group level results,” commented CEO Zsolt Barna on the latest figures.
Waberer’s shares traded on the Budapest Stock Exchange were sold at HUF 2,500 (EUR 6.95) on Monday morning. In the past year, the highest price of Waberer’s shares was HUF 2,870 (EUR 7.98) and the lowest was HUF 1,050 (EUR 2.92).
Logistics sector face hazards
However, the company warns of the increasing number and the volume of the risks affecting the logistics industry:
- the shortage of chips and other components that affects more and more customers;
- the unpredictable changes of the global supply chain processes;
- the increasing pressure of labour force shortages; and the temporary shortage of Adblue.
“While we are proud of the results achieved and see this as sustainable in the current business environment, we also see more and more risks emerging from increasingly diverse directions that affect the entire logistics industry, and we consider the effects of these risks to be difficult to predict in the coming months,” said Barna.”