Waberer’s releases Q3 2019 results

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Waberer’s has released its financial results for Q3 2019. The company reported total revenues of €170m, a year-on-year decrease of 7%. EBITDA decreased by 19% to €15.3m. Net income for the third quarter totalled -€5.6m and gross profit decreased 9% year-on-year to €29m.

International Transportation Segment revenue decreased by 12% to €119m in Q3 2019 compared to the same period in the previous year. The drop in revenue was mainly attributable to the fleet reduction programme, resulting in 14% fewer trucks than a year ago. Transportation prices rose year-on-year and utilisation of trucking capacities showed sequential improvement. Freight forwarding activities were notably lower than last year as the own fleet enjoyed priority when allocating orders. Gross profit in the segment decreased by 24% to €17m the decrease was due to higher wages and higher unit transit costs.

Revenue in the Regional Contract Logistics segment increased by 2% year-on-year to €37m and gross profit increased by 26% to €11m. The increase was primarily due to the positive effects of an ongoing repricing effort, with less profitable truckload services being substituted by higher-margin logistics contracts.

Source: Waberer’s

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