Waberer’s H1 profit climbs 28%

MNB

Hungarian road haulage company Wabererʼs International had net income attributable to equity holders of the parent company amounting to EUR 6.9 million in the first half, up 28% year-on-year, an earnings report released early Monday shows.

Excluding non-recurring items, Wabererʼs said its net income climbed 21% to EUR 9.2 mln, national news agency MTI reported. Diluted earnings per share came to EUR 0.48.

Revenue increased by 13% to EUR 313.2 mln. Direct costs of sales, adjusted for the consolidation of Wabererʼs insurance unit, rose at practically the same rate to EUR 245.6 mln.

Wabererʼs had net financial debt of EUR 221.4 mln at the end of June, up 5% from twelve months earlier.

The company acquired Polish peer Link for EUR 32.5 mln in July with the proceeds from an IPO.

Speaking at a press conference after the release of the earnings report, CEO Ferenc Lajkó attributed the double-digit rise in revenue to the strong performance of the European road haulage market as well as of the Hungarian economy. Wabererʼs full-year results will be in line with market expectations, he added.

Wabererʼs will consolidate Link in the second half of the year, Lajkó  said, adding that the company plans no further acquisitions in 2017.

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