Budapest based Waberer’s International Nyrt, the European leader in full truckload (FTL) transportation, has reported its financial results for Q4 2017 concluding December 31, 2017. Waberer’s sees a robust performance above expectations in 2017, demonstrating a successful implementation of its strategy. As for its future plans, the company remains focused on consolidating its position in the Central-Eastern Europe region through further value-accretive acquisitions. Waberer’s annual report with audited figures for 2017 will be presented to the Annual General Meeting in April 2018.
Among its key highlights:
- Revenue increases by 21% year-on-year in the fourth quarter of 2017 to EUR 179 mn
- International Transportation Segment revenue increased by 24%, due to continuing price increases and acquisition effects
- Regional Contract Logistics revenue up by 8% driven by year-on-year rise in warehouse capacity and higher prices
- Recurring EBITDA increased by 47% year-on-year to EUR 21 mn in the fourth quarter
- In the International Transportation Segment, recurring EBITDA grew by 49%, 11 pp of which was organic
- EBITDA increased by 41% in the Regional Contract Logistics segment
- Recurring EBIT rose strongly to EUR 5 mn in the fourth quarter
- Recurring Net income increased to EUR 6.0 mn on positive one-time effects in tax and financial result, while fourth quarter EPS rose to EUR 0.40
- Net leverage ratio decreased to 2.7x recurring EBITDA as a result of higher profits and improved working capital management
- Fleet size up by 18% year-on-year
The United Kingdom is one of the top three target markets for Waberer’s where on average 800 unloading trucks arrive on a weekly basis. Automotive manufacturers already use Waberer’s expertise in the field of long-haul transportation mainly through freight forwarding companies that ensures them short lead-time service thanks to the company’s strong network and large-capacity own fleet. The company sees further business opportunities in the FMCG and the automotive sectors.
Ferenc Lajkó, CEO of Waberer’s International Nyrt. commented: “Looking across the full year of 2017, I am happy to report that our financial performance surpassed expectations across the board for our shareholders. Our strong results in 2017 demonstrate the successful implementation of our strategy aimed at revenue growth through organic and inorganic expansion, supported by efficiency gains and the adoption of cutting-edge technologies. 2017 has been an exciting year for Waberer’s also because it was highlighted by our exciting entry into the listed arena with our IPO in July.
"The revenue and recurring EBITDA growth of the Group was both above the long-term communicated target of 15%, attributable in part to the effects of the acquisition and in equal part to organic growth.
"Our year-on-year growth rates in the fourth quarter were particularly strong due to a combination of excellent organic performance and the successful integration of LINK: the increase in revenue exceeded 20% while recurring EBITDA growth neared 50%, with bottom line achieving even greater growth rates. As a result of our unique monitoring and training procedures, fuel consumption improved by more than 4%, while our fine-tuned optimisation engines led to savings across most of our major cost items. Meanwhile, the performance of LINK, our Polish subsidiary that we acquired in mid-2017 to start the European consolidation process of the sector, has shown sequential improvement as integration efforts continue across all areas of operation.
"Regarding the future, we plan to step up on the organic and inorganic fronts as well. Organically, we are to rely on technological solutions more in order to enhance our operational efficiency even further, among which digitalisation and better usage of data is a central goal for 2018. We plan to further grow our highly diversified customer base by targeting the attractive auto and e-commerce sectors. In the regional segment, we remain focused on consolidating our position in the region through further value-accretive acquisitions.
"I expect that the Group can perform at least at a similar rate of annual growth as in 2017, and I look forward with confidence and conviction in our growth plan.”