Waberer’s - Dividend Proposal On Table, Mgmt. Sees higher EBIT in ‘22
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Dividend proposal on table, mgmt. sees higher EBIT in ‘22
- Waberer's posted a strong set of results for Q3/22 on Monday, AMC. Revenues increased by 18% YoY in Q3 to EUR 174.6mn, reflecting the spectacular improvement in the ITS (+27% revenue growth) and the stable double-digit (+15%) growth in the RCL segment as well. EBIT reached EUR 9.7mn, or +46% YoY, driven by the more complex services of Waberer’s and the successful cost management. In case of no further disruption in the supply chain, the management expects Group EBIT to exceed 2021 level, which is seen at above EUR 30mn at this stage. Surprisingly, the BoD has decided that they may propose a dividend from 2022 profit if there is no significant deterioration in macro and business environment. The timing of the announcement is rather interesting, since the decision was made during the public takeover offer. However, we think that the dividend proposal may also depend on the result of the public takeover offer which is open until next Friday.
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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