WABERER'S INTERNATIONAL (3WB) investor relations material

Executive summary

• Q2 2026 consolidated revenue reached EUR 227.0 million, up 11.8% year-over-year; H1 revenue was EUR 435.0 million, up 9.4% year-over-year.

• Core logistics and insurance operations maintained profitability in line with the previous year, with Q2 EBIT at EUR 15.5 million and H1 EBIT at EUR 26.6 million, though EBIT declined year-over-year due to real estate segment weakness.

• Net profit expanded significantly, reaching EUR 18.2 million in Q2 (+36.2%) and EUR 25.9 million in H1 (+24%), driven by favorable foreign exchange effects.

• Delays in real estate development projects impacted EBIT, but core operations remained stable.

• Management maintains its 2026 earnings outlook, expecting core businesses to match prior year results.

Financial highlights

• Logistics segment revenue: EUR 179.6 million in Q2 (+9.5%), EUR 341.6 million in H1 (+6.8%).

• Insurance segment revenue: EUR 47.4 million in Q2 (+21.5%), EUR 93.4 million in H1 (+20.4%).

• Group EBIT declined by EUR 2.5 million year-over-year in both Q2 and H1, mainly due to the absence of real estate development activity.

• Q2 2026 EBITDA: EUR 32.4 million (-0.9% YoY); H1 2026 EBITDA: EUR 59.6 million (+2.2% YoY).

• Net leverage ratio at 1.5x as of June 30, 2026, up from 1.3x a year earlier.

Outlook and guidance

• Management expects H2 EBIT to exceed H1, with full-year core logistics and insurance results projected to match last year’s base level.

• The National Logistics Network (OLH) development project is progressing as planned, with expected earnings impact from 2027 onward.

• Market challenges are creating acquisition opportunities, supporting further market consolidation.

• Mid-term strategic plan and associated risks to be reviewed in H2 2026.

• Cost and efficiency controls to continue amid macroeconomic uncertainties.