The year 2024 marked a turning point for Waberer’s International, the Hungarian group at the forefront of international logistics and road transport. Despite a sluggish macroeconomic context, marked by stagnant demand in both manufacturing and consumer sectors across Europe and Hungary, the company managed to improve its financial performance through a targeted growth strategy and an increasingly diversified operational model.
Total revenues for 2024 reached 757.5 million euros, up 6.5% compared to 2023. Operating profit (Ebit) rose by 5% to 45 million euros, the highest figure ever recorded in the group’s history. Although the final quarter showed a slight drop in turnover – 176 million euros, down 4% year-on-year – the overall annual growth highlights the group’s strength and resilience. The main drivers were contract logistics and insurance activities, both of which benefited from strategic investments and acquisitions during the year.
Contract logistics generated revenues of 252 million euros, representing a 20% increase, driven mainly by distribution, warehousing, production support services, and a strengthening of waste recycling transport activities. The segment’s Ebit grew by 25% to 19.2 million euros. This performance was supported by new client acquisitions in domestic transport and in-house logistics, as well as the integration of Serbian company MD International, acquired at the beginning of 2024.
The insurance segment, while experiencing a 2.8% decline in revenue due to changes in accounting criteria related to policy surcharges, recorded a strong increase in profitability. Ebit rose to 24.2 million euros, up 30.2%, thanks to improved technical and financial results. One of the key factors behind this success was the acquisition by Gránit Biztosító of a 66.9% stake in Magyar Posta Biztosítók, a move that significantly strengthens the group’s position in the Hungarian insurance market.
Waberer’s also pursued major strategic projects throughout the year. The group entered the rail logistics market with the acquisitions of Psp and Gysev Cargo and began developing a national warehouse logistics network, supported by the logistics hub projects in Ecser and Debrecen. Another new development, already scheduled for 2025, is the group's entry into the road passenger transport sector through the acquisition of a stake in Pannonbusz.
In the international transport and freight forwarding segment, the group reported revenues exceeding 442 million euros, up 1.2% from the previous year. However, Ebit dropped sharply to 1.6 million euros, partly due to operational challenges at its Polish subsidiary Link. As a result, management has decided to revise the division’s strategy, favouring greater use of subcontractors in future. Activities in Hungary and the initial results from the rail freight segment helped cushion the negative impact, and a gradual improvement is expected from 2025 onwards.
The group’s net result, excluding unrealised currency effects, reached 25.4 million euros, an increase of 9.8% compared to 2023. According to chairman and CEO Zsolt Barna, recent acquisitions and investments are valuable strategic moves capable of delivering returns for investors while expanding the range of services offered, strengthening customer relationships, and improving the group’s resilience to potential future crises.
Waberer’s Group thus confirms its position as one of Europe’s leading logistics and road transport operators with its own fleet, and the main provider of integrated logistics services in Hungary. It operates 2,800 industrial vehicles and manages 250,000 square metres of warehouse space, with over 75 years of experience in the sector. Listed on the Budapest Stock Exchange since 2017, the group is included in both the BUX and BUMIX indices.
