Eurowag boss: ‘We floated in London as we would get the best reception’
Martin Vohanka – chief executive of Czech tech platform Eurowag – said he chose London for the company’s IPO because it would “get the best reception.”
“It’s about the best venue, where we believed there was the largest pool of investors which could understand our business model,” he told City PM
Founded in its current capacity in 2005, Eurowag provides the trucking industry with a tech platform to connect and optimise different business aspects, including financial and tax services as well as toll solutions and fleet management.
The company floated on the LSE in October 2021 at 150p per share and with a valuation of over £1bn.
Eurowag reported its half-year results on Tuesday, posting a profit before tax of €13.4m (£11.5m) – 8.1 per cent up on last year’s levels.
The firm’s adjusted EBITDA went up 5.7 per cent to €35m while its margin slumped by 5.2 percentage points.
“We’re proud of the results, especially if you consider the volatile environment in which the whole of Europe is in right now,” Vohanka explained.
According to the chief executive, Eurowag has always performed very well in difficult financial situations due to the inherent nature of its business.
“You cannot switch off trucking and the services we provide, it’s not discretionary,” he added.
“Customers need energy payments, they need to manage their operations, they need to keep in contact with partners, and this is everything Eurowag is doing.”