WABERER'S INTERNATIONAL (3WB) Q1 2025 earnings summary

Executive summary

• Consolidated quarterly revenue reached EUR 194.4 million, down 1.2% year-over-year, mainly due to fleet optimization and changes in the logistics customer portfolio.

• Quarterly EBIT increased by 29% to EUR 11 million, driven by the integration of Posta Insurers.

• Net income surged by 585% to EUR 7.5 million, supported by favorable FX changes and insurance segment growth.

• Management expects consolidated EBIT to exceed EUR 50 million in 2025.

• Dividend payment of HUF 134 per share approved, representing a 12% annual increase.

Financial highlights

• Logistics segment revenue declined 10.3% to EUR 155.9 million, while insurance segment revenue rose 87.1% to EUR 38.6 million year-over-year.

• Logistics segment EBIT dropped by EUR 1.2 million to EUR 1.4 million, while insurance segment EBIT increased by EUR 3.7 million to EUR 9.6 million.

• Group net indebtedness stood at EUR 127 million, with leverage at 1.7x as of Q1 2025.

• EBITDA reached EUR 25.6 million, up 15.9% year-over-year.

• Net income (excluding FX) was EUR 5.5 million, up 100.4% year-over-year.

Outlook and guidance

• Management forecasts consolidated EBIT above EUR 50 million for 2025.

• Mid-term business plan targets EBIT of EUR 100+ million by 2031, with significant contributions from logistics expansion and insurance integration.

• Further investments anticipated due to low leverage and ongoing integration of recent acquisitions.