Waberer's income up to EUR 18.1 mln last year
Listed Hungarian hauler Waberer's had a net income of EUR 18.1 million last year, improving from a loss of EUR 15.2 mln in the base period, as a turnaround continued and the company came under new ownership, according to an earnings report released on the website of the Budapest Stock Exchange.
CEO Zsolt Barna said Waberer's closed its most profitable year since 2017 as a result of its "flexibility and successful business model change," while also "significantly" reducing its leverage.
He added that Waberer's new owners "expressed their long-term support" and joined the company with "significant development plans."
In 2021, private equity firm Mid Europa Partners parted with Waberer's, and minority stakes in the company were acquired by several local investors, among them the company's founder György Wáberer.
"We can state the Waberer's Group is back on track again," Barna said.
The report shows revenue climbed 4% to EUR 590.8 million, while direct costs edged down 1% to EUR 464.6 mln. Operating profit, on recurring items, rose to EUR 27.2 mln from EUR 2.1 mln.
Waberer's fleet size was cut 7% to 2,803 trucks, while headcount was reduced by 16% to 5,857.
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