Panalpina continues to grow ahead of the market

Freightvolumes in air and ocean grew by 6 per cent each in the first quarter 2014; reduced losses in logistics

International freight forwarding and logistics company Panalpina reported a gain of further market shares in air and ocean freight in the first quarter of 2014. From January to March, the group’s transport volumes grew in both segments. EBIT in the same period increased almost by a third to CHF 24.5 million.

Panalpina’s air freight volumes grew 6 per cent in the first quarter, ahead of the market (+4%). Gross profit per ton decreased 1 per cent to CHF 754 (Q1 2013: CHF 763). As a result, air freight gross profit reached CHF 153.7 million (Q1 2013: CHF 146.4 million). Air Freight achieved an EBIT of CHF 26 million (Q1 2013: CHF 22.2 million). The EBIT-to-gross-profit margin for the first quarter increased to 16.9 per cent (Q1 2013: 15.2%).

Ocean Freight volumes also grew 6 per cent year-on-year, while the market only grew 3 per cent. „Volumes out of Asia, particularly to North America and Europe, slowed down“, reads a press information. Gross profit per TEU of ocean freight decreased by 1 per cent to CHF 333 (Q1 2013: CHF 338), which resulted in a gross profit of CHF 122.7 million (Q1 2013: CHF 117.3 million). The ocean freight unit posted an EBIT of CHF 3.9 million, CHF 1 million less in comparison to last year’s quarter. The EBIT-to-gross profit margin decreased to 3.2 per cent in the first quarter (Q1 2013: 4.2%).

The group’s logistics product recorded gross profit growth of 5 per cent to CHF 107.9 million (Q1 2013: CHF 102.1 million). The loss on EBIT level decreased to CHF 5.4 million (Q1 2013: CHF 8.6 million), which was primarily a result of reduced losses in overland activities.

“In the context of difficult market conditions, the results for the first quarter are very encouraging. Our systematic restructuring activities to turn around the company’s loss-making operations are ongoing and on track, but these activities will continue to influence the financial results in the short term,” says Panalpina CEO Peter Ulber.

The outlook for the air and ocean freight markets remains unchanged. The company expects the air freight market to grow by 2 to 3 per cent and the ocean freight market by 4 to 5 per cent in 2014.

www.panalpina.com

Quelle: LogEastics
Portal: www.logistik-express.com