Wabererʼs books Q2 loss; sees improvement in H2

MNB

Hungarian road haulier Wabererʼs International booked a second-quarter loss of EUR 9.1 million as margins narrowed, an earnings report released by the listed firm late Wednesday shows.

Revenues fell by more than 6% to EUR 172.7 mln, while direct costs edged down just 2% to EUR 146.8 mln, state news agency MTI reported. Wabererʼs had an operating loss - on recurring items - of EUR 5.9 mln.

CEO Robert Ziegler said the company was impacted by a dramatic drop in U.K. business in April as warehouses were filled in preparation for a no-deal Brexit at the end of March. He added that the companyʼs customer base is "well prepared" for a potential no-deal Brexit on October 31, but "uncertainties remain."

Ziegler also blamed functionality issues with a new SAP-based transport management system for lost orders in April. The new system is up and running, albeit with some fixes still necessary, he added. Ziegler noted that the company is continuing earlier announced transformational initiatives affecting its international activities.

"I am confident that visible improvements from these initiatives will be achieved in the second part of the year," he stated.

Wabererʼs is listed in the Equities Prime category of the Budapest Stock Exchange (BÉT).

ADVERTISEMENT

Pandemic has only moderate impact on big companies Analysis

Pandemic has only moderate impact on big companies

Parl't to vote on groundwork for commercial accommodation ra... Parliament

Parl't to vote on groundwork for commercial accommodation ra...

Duncan Graham reelected as BCCH president Appointments

Duncan Graham reelected as BCCH president

Budapest re-launches airport shuttle bus City

Budapest re-launches airport shuttle bus

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.