WABERER'S INTERNATIONAL (3WB) Q3 2025 earnings summary

Executive summary

• Consolidated revenue grew 7.8% quarterly and 5.0% year-over-year, reaching EUR 205.4 million for Q3 and EUR 603 million for the nine-month period.

• Quarterly EBIT rose 23.3% to EUR 12.4 million, with nine-month EBIT up 41.3% to EUR 41.5 million.

• Net income increased by over 100% both quarterly and for the nine-month period, reaching EUR 11.2 million in Q3 and EUR 32.1 million cumulatively.

• Excluding non-realized FX effects, net income was EUR 7.3 million for Q3 (+39% YoY) and EUR 25 million YTD (+96.3% YoY).

• Management maintains its EBIT expectation of over EUR 50 million for 2025.

Financial highlights

• Q3 EBITDA was EUR 27.3 million (+11.9% YoY); YTD EBITDA was EUR 85.6 million (+19.5% YoY).

• Net leverage ratio improved to 1.3x from 2.3x at year-end 2024.

• Free cash flow for Q3 was EUR 95.3 million; YTD free cash flow was EUR 217.9 million.

• EPS for Q3 was EUR 0.7 (+109.9% YoY); YTD EPS was EUR 1.9 (+163.2% YoY).

• Net financial indebtedness decreased to EUR 155.8 million from EUR 236.7 million at year-end 2024.

Outlook and guidance

• EBIT expectation for 2025 remains above EUR 50 million, with logistics expected to improve and insurance to slightly decline due to higher loss ratios in H2.

• Financial targets set at the beginning of the year are expected to be achieved.

• New business development and integration into global supply chains are expected to drive future growth.