Wabererʼs Q3 net income climbs 8%, revenues up 23%

MNB

Third-quarter recurring net income of listed road haulage company Wabererʼs rose 8% year-on-year to EUR 6.2 million, an earnings report released early Tuesday shows.  Revenues climbed 23% to EUR 182.3 mln, rising in part on Wabererʼs acquisition of Polish peer Link, state news agency MTI reported.

Direct costs increased faster than revenues, rising 27% to EUR 145.7 mln, while payroll costs were up 25% at EUR 28.2 mln and costs of subcontractors climbed 35% to EUR 41.9 mln, Wabererʼs noted.

Gross profit was up 11% at EUR 36.6 mln. Earnings per share came to EUR 0.34 for the period.

Speaking at a press conference after the release of the earnings report, CEO Ferenc Lajkó noted that Wabererʼs had delivered on its promise of double-digit revenue growth. Wabererʼs expects dynamic growth this year, supported by economies of scale, innovation and improved efficiency, he added. 

"We continue to evaluate potential acquisition targets in neighboring countries," said Lajkó.  "In the meantime, we will continue to strive for greater efficiencies in our business and look to utilize the latest technology to provide optimal solutions for our clients and favorable results for our shareholders," he added.

Lajkó noted that Wabererʼs did not issue any revenue guidance for 2017 partly because the companyʼs shares were listed mid-year.

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