Compared to 2021, the company increased its EBIT by 22.5 per cent. The sales revenue of 675.9 million euros is also 14.1 per cent higher than the previous year. This result enables the company to pay dividends to its shareholders for the first time in its stock market history.
“The company achieved outstanding performance in a challenging year, as the Russian-Ukrainian war had an unfavourable effect on its operation in several aspects. After the outbreak of the war, many of the hundreds of Ukrainian drivers working in the Waberer’s group went home, while the supply chain of some customers was disrupted due to the collapsing cooperation with Russian and Ukrainian suppliers. Additionally, the soaring inflation put the company under significant operating costs and wage pressure. Overcoming these challenges was aided by the creation of a crisis-resistant corporate group structure in recent years, in which all three business segments contributed equally to the company’s effectiveness,” Waberer’s said in its press release.
Indeed, 30 per cent of the EBIT came from the International Transport Segment, 33 per cent from the RCL Regional Contract Logistics Segment, and 37 per cent from the Insurance segment.
Although the net result decreased from 18.1 million euros to 16.2 million euros annually, it increased by 31.8 per cent in the last quarter compared to the same period in 2021.
According to Zsolt Barna, CEO of Waberer’s International Nyrt., the record performance is a result of the growing market demand for quality logistics services, the implementation of a strategy that focuses on providing customized services expected by key account customers, and the adoption of a rapid response organizational culture.
The CEO explained that in recent years, the company’s operations have not only been stabilized but also expanded into new areas, and several investments that support further growth have been prepared or are already underway.
Priority strategic projects were prepared last year, and the first results of these initiatives will be visible in 2023. For instance, the 47,000-square-meter logistics centre being built near Budapest Airport is expected to reach a high degree of completion by the end of the year, while additional warehouse development projects are also in the works.
In 2023, the RCL segment may complete its first regional acquisition, which could help Waberer’s provide comprehensive logistics services with a real regional focus, the statement adds.
However, the CEO cautioned that the demand for logistics services may decline due to deteriorating trends in industrial production and residential consumption, leading to a decline in both continental and regional demand.
Despite challenges, the management expects revenue growth this year. While the EBIT is projected to remain at the same level, last year’s one-off effect was also aided by a EUR 2.7 million investment subsidy.
The announcement highlights that the shipping and logistics company operates a fleet of 2,800 trucks and a warehouse with over 250,000 square meters, making it the largest logistics capacity provider in the region.
Waberer’s shares have been listed in the premium category of the Budapest stock market since 2017. On Monday, they closed at HUF 1,845 (approx 4.87 euros), with a value fluctuation ranging between HUF 1,735 and HUF 2,340 (4.58 – 6.16 euros) over the course of a year.