Damco reports positive 2012 half year result

Restructuring of European Activities made a negative impact to Damco’s EBIT
 
Damco – one of the world’s leading providers of freight forwarding and supply chain management solutions – continues to develop well. In the six months of 2012 net revenue grew by 12% to USD 1,543 million compared to the same period last year. Gross profit is up 5% to USD 379 million. Damco´s EBIT for the first half of 2012 grew 42% to USD 51 million.
 
Damco´s EBIT in the first half of 2012 was positively affected by the sale of warehousing facilities in China. At the same time Damco’s EBIT was negatively impacted by the restructuring of the European activities into mature and developing markets and Damco also invested more than planned to properly implement newly won business.
 
In the first half of 2012, Damco’s ocean freight volumes increased 9% to 389.500 TEU compared with the same period in 2011, whilst airfreight tonnage growth was 135% to 85,700 tons. The latter includes the effects of the acquisition of the Chinese air freight forwarder NTS. The underlying organic growth was still 42%. Damco’s supply chain management volumes increased 3% during the first half of 2012, driven by new recently secured accounts that started to ship with the company.
 
“I am very pleased to see the continued above market, organic growth in our Air- and Oceanfreight business and we have also developed well on our Supply Chain Management volumes,”  Damco CEO, Rolf Habben-Jansen said. “It demonstrates that our customers find our services attractive and competitive,” Rolf Habben-Jansen added.
 
Damco is one of the world’s leading third party logistics providers specialising in customised freight forwarding and supply chain solutions. The company has 10,800 employees in over 300 offices across 90 countries and representation in a further 30 countries. Damco is part of the A.P. Moller – Maersk Group.

Quelle: LogEastics

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