Waberer's International Nyrt. · BET:WABERERS
Waberer's International Nyrt — Q2 2024 Earnings Presentation
22 slides from Waberer's International Nyrt's earnings presentation, Aug 12, 2024
Slide 1: WABERER'S GROUP 2024 Q2 results
WABERER’S GROUP 2024 Q2 results Budapest, 12 August 2024 BUILDING THE NUMBER ONE COMPLEX LOGISTICS SERVICE PROVIDER IN CENTRAL AND EASTERN EUROPE. COMPLEXITY I EXPANSION I SUSTAINABILITY I STABILITY I PEOPLE-FOCUSED
Slide 2: Disclaimer
Disclaimer This presentation may contain forward-looking statements. Statements that are not historical facts, including statements about our beliefs and expectations, are forward-looking statements. These statements are based on current plans, estimates and projections, and therefore should not hav
Slide 3: Agenda
AGENDA • Status of strategic projects & outlook for 2024 • Group and segment level results • Acquisition of Hungarian Post Insurers
Slide 4: Key messages
Key messages I. 10% consolidate revenue growth (EUR 388.5 m) – Increase driven segments with higher profitability margin (RCL and insurance segment) II. H1 EBIT in line with management expectations (EUR 19.2 million); highest quarterly EBIT since Q2 2023 (EUR 10.7 million) – 50% of consolidated EBIT
Slide 5: Delivering Results with Strategy 2027
Delivering Results with Strategy 2027 2023 2027 Focus: CEE region Contract Logistics Focus warehouse logistics (RCL) in Hungary Significant in-house and e-commerce improvement and powerful warehouse development Value added services 38% of revenues Value added services 60% of revenues International T
Slide 6: Strategic milestones of 2024 and outlook
Strategic milestones of 2024 and outlook Annual EBIT expectations of more than EUR 40 million, Q3 and Q4 results expected on 2023 level; strategic projects already closed with an expected annualised EBIT potential of EUR 10 - 15 million Status of Strategic projects Contract Logistics (RCL) Transport
Slide 7: Trend of financial performance on quarterly basis
Trend of financial performance on quarterly basis Highest group EBIT result in the last 4 quarters and higher net debt position compared to Q2 2023 due to key strategic investments Group EBIT (EUR mn) -25% 14.3 12.1 11.2 10.3 9.7 10.7 8.3 9.3 8.5 7.7 8.0 6.6 3.5 4.5 4.6 0.1 1.2 -2.7 Q1 20 Q2 20 Q3 2
Slide 8: Consolidated quarterly results
Consolidated quarterly results Double digit quarterly revenue increase, consolidated EBIT in line with the average of previous years Group revenue (EUR mn) • Group revenue • 10% increase resulting in record group-wide half-yearly revenue +9% +10% • Group EBIT 192 389 • Highest consolidated EBIT resu
Slide 9: Change of half-year consolidated net-income
Change of half-year consolidated net-income The change in net income was significantly impacted by non-cash, technical items (unrealised FX effect & deferred tax of nearly EUR 10 m) Major factors in the change of net income (EUR mn) -18.5 25.5 -3.8 -2.5 -7.4 -2.4 -2.2 7.0 0.1 -0.3 6M 2023 - EBITDA c
Slide 10: Quarterly segment results
Quarterly segment results Positive quarterly ITS, increasing RCL and lower insurance result due to positive one-off items in the base period ITS (EUR mn) ITS Increasing revenue despite continued weak demand in Europe +5% -95% Positive EBIT again due to orders won during the successful spring te
Slide 11: Contract logistics segment (RCL)
Contract logistics segment (RCL) Steadily expanding quarterly and half-year profitability as a result of new customer acquisitions, impact of Serbian acquisition and new (Ecser) logistics centre from Q2 / Q3 Revenue (EUR mn) Composition of revenue (EUR mn) * 61.9 58.5 28% 52.5 49.9 14% Transportatio
Slide 12: Transportation and freight forwarding segment (ITS)
Transportation and freight forwarding segment (ITS) Segment performance in the positive range again, successful rail logistics integration Quarterly revenue (EUR mn) Composition of revenue (EUR mn) * 118.3 118.4 26% 112.0 1% 106.4 4% Own fleet transportation 5% 86.7 Freight Forwarding Intermodal PSP
Slide 13: Insurance segment
Insurance segment Insurance result declines in Q2 due to individual claims and one-off effects while growing customer numbers and high investment result Revenue (EUR mn) Composition of EBIT (EUR mn) * 23.0 36% 22.8 20.6 Insurance technical result 19.0 17.5 Result on financial investments 2021 2022 2
Slide 14: Acquisition of Hungarian Post Insurers
Acquisition of Hungarian Post Insurers Insurance business significantly diversified and strengthened through the acquisition of Posta Insurance Expected timing Market share* 16% LIFE 11% 11% July 2024 - signing SPA 10% 8% 7% 7% 5% 5% 4% Oct/Dec 2024 - Regulatory approvals NN Groupama Generali ALFA M
Slide 15: Summary
Summary I. Significant progress in the implementation of strategic projects during 2024 H1 (Annualised 10-15 m EBIT potential) • PSP (Rail Logistics Service Provider) acquisition closed and integration started • MDI (Serbian distribution company) acquisition closed and integration started • Tehcnica
Slide 16: Appendix
Appendix
Slide 17: Focus on capital market presence and investors' trust
Focus on capital market presence and investors’ trust In addition to maintaining our stable financial performance, we are constantly working to strengthen our capital market presence and increase our visibility and investor reach. We are constantly examining capital market instruments to support the
Slide 18: Waberer's Strategy 2027
Waberer’s Strategy 2027 Waberer's Group aims to become the number one complex logistics service provider in the CEE region, with a complete, customer-focused and sustainable service portfolio Strategic Pillars Waberer’s Group EBIT distribution (in million EUR) Infrastructure and Technology Developme
Slide 19: Building a sustainable service portfolio
Building a sustainable service portfolio WABERER’S GO GREEN 2021 2027 Focus areas Developing green Creating an attractive Emission reduction Operational excellence services workplace • Increasing the share of rail and • Setting and publication of • Employee training and • Adherence to and applicatio
Slide 20: Reporting of the results of jointly controlled entities I.
Reporting of the results of jointly controlled entities I. Consolidation of jointly controlled entities by equity method; proportional EBITDA, EBIT and net income in the consolidated financial figures Successfully closed transactions in the first quarter of 2024 PSP Group - 2. February 2024 MDl (Ser
Slide 21: Reporting of the results of jointly controlled entities II.
Reporting of the results of jointly controlled entities II. Q2 2024 Q2 2023 Better (w orse) 6M 2024 6M 2023 Better (w orse) Revenue 191.8 175.9 9.0% 388.5 352.6 10.2% Gross profit 20.3 25.5 (20.4%) 42.1 51.3 (17.8%) of w hich: excluding depreciation and amortisation 34.7 38.6 (10.2%) 70.2 76.9 (8.7%
Slide 22: Thank you for your attention!
WABERER’S GROUP Thank you for your attention! WABERER’S INTERNATIONAL Nyrt. H-1239 Budapest, Nagykőrösi út 351. Tel: +36 1 421 6300 E-mail: investor.relations@waberers.com
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