In Q1, the company observed an increase in sales of 2% YoY, decrease in EBITDA of 18% and a decrease in net income of 37%.
As Intereuropa published their Q1 2019 report, we are bringing you key takes from it. According to the report, in Q1, the company observed an increase in sales of 2% YoY (1% lower than planned), amounting to EUR 39.7m. This came primarily as the result of a drop in one-off transactions in the air, railway and road transport segments on the markets of subsidiaries outside of the EU.
In Q1, sales revenue of EUR 20.5 million was generated in the land transport segment, which accounts for 52% of the Group’s sales. Sales revenue was thus up by 1% relative to the same period last year. The highest proportion of sales revenue from land transport (63%) was generated by the parent company, which exceeded the sales revenue generated in the same period last year by 1%.
Sales revenue in the intercontinental transport segment amounted to EUR 11m, representing a decrease of 3%. Furthermore, EUR 6.4m was generated in the logistics solutions segment, representing an increase of 16%.
Sales (Q1 2019 vs Q1 2018) (EUR m)
When observing the company’s operating expenses, they amounted to EUR 38.7m, representing an increase of 4.8%.
Going further down the P&L, the company recorded EBITDA of EUR 2.99m, representing a decrease of 18%. The decrease could be attributed primarily due to higher costs of labor and services. Contributing to higher labor costs were accrued expenses for employee participation in profits, which were not recorded during the same period last year, a higher number of employees and an increase in average labor costs per employee.
In Q1, Intereuropa also observed a net financial loss of EUR 0.3m, which represents an increase in loss of EUR 0.28m. Contributing to the worse result were planned but unrealized revenues from participation in the profits of Group companies (dividends from subsidiaries).
Intereuropa recorded a net income of EUR 0.83m, representing a decrease of 37%
