Wabererʼs earnings down 11% in Q1-Q3
Hungarian road haulage company Wabererʼs earnings before interest and tax fell by €2.4 million to €19.1 mln in the first three quarters compared to the same period last year, an earnings report released late Thursday shows.
EBIT fell despite one-off items raising earnings by €3.2 mln. Wabererʼs noted that the migrant crisis in Europe had negative effects for the company due to stricter border controls which disrupted business. The company also struggled to find enough drivers.
Earnings before interest, taxation, depreciation and amortization grew by €3.6 mln to €55.5 mln. Earnings on foreign markets accounted for 84% of the whole with earnings from the domestic Hungarian market providing 16% of the total amount.
Revenue grew by €23.6 mln to €392.4 mln in Q1-Q3.
Wabererʼs requested the listing of its shares on the Budapest Stock Exchange on October 5 , which the BSE approved, but the board of the company is now proposing to shareholders that it cancel the IPO in light of current market conditions.
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