Waberer's Net Income Climbs 54% in 2023

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Net income of Hungarian hauler Waberer's rose 54% to EUR 29.7 million in 2023 as revenue climbed and financial losses narrowed, an earnings report released on Friday shows.

Revenue rose 5% to EUR 710.9 mln. Direct costs increased at the same pace to reach EUR 621.2 mln.

Operating profit climbed 17% to EUR 42.8 mln.

Waberer's booked a net financial loss of EUR 4 mln, well under the EUR 11.4 mln loss in the base period.

Excluding the impact of unrealized financial losses, net income was EUR 23.1 mln, practically unchanged from the previous year.

CEO Zsolt Barna acknowledged a stagnation or slight decline in industrial production and consumption data in Hungary and Western Europe, Waberer's main markets, in 2023, and said the company's "main challenge" was to identify and target segments and customers less affected by the negative economic environment.

Waberer's board will propose payment of a HUF 120-share dividend to shareholders at an annual general meeting in April.

The company's management issued guidance for consolidated revenue of close to EUR 800 mln and EBIT of over EUR 40 mln in 2024.

Waberer's established two units, SinoWa International and DeWab Logistics, in cooperation with Chinese partners in 2023. The newly established entities have not started activity yet.

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