Wabererʼs books Q1 loss; eyes improvement in H2

MNB

Listed Hungarian road haulier Wabererʼs International booked a first-quarter loss of EUR 4.4 million as margins narrowed, an earnings report released late Wednesday shows, as reported by state news agency MTI.   

Revenues edged up close to 2% to EUR 182.2 mln, but direct costs increased a little more than 3% to EUR 152.3 mln. Wabererʼs had an operating loss - on recurring items - of EUR 2.7 mln.

CEO Robert Ziegler said the Q1 loss "reflects that the headwinds on the transportation and logistics market that we faced in 2018 have not disappeared," adding that "the Brexit saga continues to increase the unpredictability in the market."

Ziegler said management have taken steps to "put the customer more in focus and to enable us to respond to their needs more flexibly," as well as redesigning driversʼ incentives and merging fleet and forwarding operations. Management is also working on making planning "more intelligent," improving IT, and addressing HR issues, he added.

"These changes are substantial and will not take effect overnight, but we are confident to see the first signs of improvement in the second half of the year," Ziegler said.

Wabererʼs net financial indebtedness stood at EUR 257.9 mln at the end of March, noted MTI.

ADVERTISEMENT

Századvég raises GDP forecast to 7.8% Analysis

Századvég raises GDP forecast to 7.8%

Opposition parties to begin PM candidate primaries Elections

Opposition parties to begin PM candidate primaries

New editor-in-chief at Betone Studio Appointments

New editor-in-chief at Betone Studio

Budapest leaders make public transport free for under-14s City

Budapest leaders make public transport free for under-14s

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.