For the quarter ending December 31, 2020, Waberer’s revenue decreased by 16.6% to €143m in Q4-20 compared to Q4-19 while annual revenue decreased to €569.3m that is €126.8m decrease compared to 2019. Revenue decreased both in the fourth quarter and annual was driven by the fleet size decrease in International Transport Segment (ITS) that resulted in a €35.7m decrease in the fourth quarter and €161.9m decrease annually compared to 2019, while revenue in Regional Contract Logistics (RCL) segment increased by €5.2m in the fourth quarter and by €25.3m annually.
International Transportation Segment revenue decreased by 30.6% to €81.0m in the fourth quarter of 2020 compared to the same period in the previous year. The active fleet size decreased by nearly 1,000 trucks (32.3% fleet size decrease) compared to the same period of last year. Revenue in the Regional Contract Logistics segment rose by 12.9% year-on-year basis to €45.8m in Q4-20. The increase in revenue was mostly due to a large contract in the automotive sector where Waberer’s provides in-house logistics services and cooperation was launched in December 2019. Revenue in the Other segment – which includes predominantly the third-party insurance activities – increased by 2.5% year-on-year to €18.2m in Q4-20.
For the year ending December 31, 2020, Waberer’s announced revenue had fallen by 18.2% to €569.3m from €696.2m in 2019. The company’s EBITDA was €55.3m, 5.3% lower than €58.4m in 2019. Net income, however, improved, whilst still recording a loss of €15.2m, this was an increase of 34.9% y-o-y.
The International Transport Segment saw revenues fall by 32.9% y-o-y, to €331m as EBITDA declined by 44.5% to €15.4m. Gross profit also decreased from €67.7m in 2019 to €48.5m this year, a drop of 28.3% y-o-y. The Regional Contract Logistics segment performed well in comparison as revenues increased by 17.1% y-o-y to reach €173.5m in 2020. EBITDA also rose by 40.3% to €30.4m as did gross profit, an increase of 31.0% to €54.3m. Waberer’s Other segment performed better in 2020 with revenues increasing by 5.5% compared to 2019. EBITDA rose by 5.9% to €9.5m and gross profit increased by 1.1% to €10.2m.
These results reflect the state of the market in 2020 with international transportation experiencing a particularly poor year as a result of the pandemic; loss of volumes and border restrictions, especially impacted road freight operations.
Source: Waberer’s
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