Guidance maintained after a strong Q3 despite Polish Link weighing on ITS
Key message: Waberer’s reported Q3 consolidated EBIT of EUR 10.1mn, which translatesinto a 26% increase compared to the same period last year. The company maintained fullyear EBIT guidance of EUR 40mn+ while clarified its revenue guidance at EUR 770-780
mn. ITS became unprofitable again on EBIT level (EUR -1.9mn) due to the unfavourable tax
policy changes affecting the segment’s polish subsidiary (LINK). As a result, the company
decided to implement a strategic change in LINK’s operations, with significantly increasing
the forwarding activities while adjusting the size of the own fleet in the region. During the
quarter, Waberer’s signed an agreement for the acquisition of the 66.9% stake in
Hungarian Post Insurance and Hungarian Post Life Insurance. The transaction is expected
to close by the end of the year.
Waberer's International Nyrt, formerly Waberer's International Zrt, is a Hungary-based company engaged in the provision of the transportation services in the region of Central and Eastern Europe. The Company provides international road transportation, forwarding of LTL and groupage cargo, overseas and air transportation management, customs services, vehicle repair, second hand vehicle sales and logistics services. The Company operates also through subsidiaries, including Waberer's Logisztika Ltd that is charge of domestic transportation activities and operates with four divisions - gas, food, dry-cargo transportation and large truck operation, and H-Rapid service that operates within the dry-cargo division, delivering freight to its destination within 24 hours. Waberer's International Nyrt manages also subsidiaries in Romania, Poland and Slovakia as well as in the western region, in Spain and Germany.
Concorde Securities Ltd. is Hungary’s leading independent company engaged in investment banking activities. It provides its clients with integrated financial services, including securities trading, research, corporate financing advisory, capital market transactions, wealth management and investment advisory. The operational management of the company is the responsibility of the CEO, while the owners/managers (who control one-third of the company through their shares and options) are in charge of its strategic governance. Concorde Securities Ltd. is a member of the Budapest, Frankfurt, Warsaw and Bucharest stock exchanges, as well as of the Hungarian Association of Investment Service Providers.
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