Wabererʼs earnings report shows modest profit
Hungarian haulier Wabererʼs International registered revenue growth of 15% in Q1, but gross profit grew only 5% and EBITDA even less, an earnings report released early Tuesday shows.
Wabererʼs International booked a net loss attributable to equity holders of the parent of EUR 400,000 in the first quarter, compared to a net gain of EUR 4.2 million in the base period, as higher costs as well as depreciation and amortization weighed, according to a press release sent to the Budapest Business Journal.
Revenue climbed 15% to EUR 178.9 mln. Payroll costs increased 25% to EUR 28.9 mln, and costs of subcontractors and reinsurance fees jumped 45% to EUR 43.4 mln. Gross profit rose 5% to EUR 29.2 mln. EBITDA was up 2% at EUR 17.7 mln.
Operating profit fell 49% to EUR 2.6 mln as depreciation and amortization jumped 24% to EUR 15.1 mln because of the companyʼs enlarged fleet. Pre-tax profit fell 67% to EUR 1.4 mln. Wabererʼs said net leverage remained roughly flat year-on-year.
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