Are you sure?

Wabererʼs profit drops in Q2

Revenue of Hungarian road haulage group Wabererʼs rose 17% year-on-year to EUR 185 million in the second quarter of 2018, while recurring EBITDA dropped by 14% to EUR 19 mln, the company said on Tuesday.

The company posted a net loss of EUR 0.1 mln in Q2 2018, against net income of EUR 4.8 mln in the base period.

First-half revenue rose 16% to EUR 363.4 mln, while recurring EBITDA dropped 8% to EUR 37.1 mln in the period. H1 net income dropped to EUR 0.1 mln, from EUR 9.2 mln a year earlier.

Earnings per share were minus EUR 0.04 in H1, and minus EUR 0.01 in Q2 alone, national news agency MTI reported.

The firmʼs International Transportation segment increased its European market share. Second-quarter revenue rose 19% in the segment as prices rose 7% and volume and acquisition effects raised revenue by 12%, the company said. At the same time, recurring EBITDA dropped 14% in the segment as cost pressures and a temporary decrease in truck utilization pushed down the margin.

Revenue in the Regional Contract Logistics segment increased by 9% in Q2 2018, driven by growing warehouse capacity and higher prices. The company attributed a 18% decline in EBITDA in the segment in Q2 mainly to an especially strong second quarter last year. The company noted that it successfully managed its labor force despite a challenging situation on the wage front.

Wabererʼs issued a profit warning on July 12, saying that full-year group EBITDA is now expected to decrease slightly from EUR 85.8 mln last year, as opposed to the rise expected earlier. The company nevertheless indicated in July that it still anticipates double-digit revenue growth in 2018.