Panalpina gains market shares in Ocean Freight

Panalpina returns to profit; Air Freight division continued to struggle in a shrinking market
 
The management board of the Panalpina group, counting among the world’s leading providers of supply chain solutions, is painting a mixed picture of the future when announcing the key figures for the first quarter of 2013. “Looking forward we are optimistic in regards to our activities in ocean freight and logistics. In air freight, however, the outlook remains weak,” said CEO Monika Ribar. Panalpina will continue to work towards a more balanced mix between their core products air freight, ocean freight and logistics and also towards a better mix of industries.
 
In Ocean Freight, volumes reached a new first quarter record level. Panalpina shipped 7 per cent more TEU than the year before, developing ahead of the market which grew by approximately 2 per cent. Gross profit per TEU of Ocean Freight was below the prior year (-4%) but up 3 per cent quarter-on-quarter. The lower unit profitability was more than offset by the higher volumes, leading to an increase of gross profit of 2 per cent to CHF 117 million.
 
In Air Freight, the environment remained difficult. While the volumes of Panalpina’s customers in the high-tech, telecommunication and chemicals industries stayed weak, the volumes of consumer and retail, healthcare and oil and gas customers showed double-digit growth. Overall, volumes were down by 3 per cent in the first quarter (market: -2%). Gross profit per ton of air freight decreased by 5 per cent year-on-year but increased by 6 per cent quarter-on-quarter. The lower volumes and unit profitability led to a contraction in gross profit compared to the previous year of 8 per cent to CHF 147 million. The Logistics division grew by 13 per cent and reached a gross profit of CHF 102 million.
 
Overall the Panalpina group employing around 15,000 people worldwide returned to profit in the first quarter of 2013. Net forwarding revenue increased by 4 per cent to CHF 1,6 million compared to the previous year, with gross profit amounting to CHF 365.8 million. The group’s consolidated profit turned from a group loss of -CHF 40.9 million in the first quarter 2012 to auf +14.3 Mio. CHF.

Quelle: LogEastics

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