Panalpina Group has slight confidence for 2010
Considerable decline in transport volumes and gross profit marked 2009 for Panalpina The management of the Panalpina Group reckons with a moderate recovery of both the air freight and ocean freight markets with mid single-digit growth rates for the year 2010. The company is confident to grow at least with the market. In order to strengthen the company’s competitiveness, they will put a big focus on growing profitably and continue to tightly manage their cost base and cash generation. Moreover they strive for better balance profitability versus pure volume gains, says CEO Monika Ribar at the presentation of the 2009 balance. As other key elements she named the strengthening of the global sales organization and the expansion of the product portfolio for supply chain management. For Panalpina the year 2009 was marked by the sharp fall in global trade volumes and the rapid increase in buying rates from late summer. Therefore the net forwarding revenue decreased by 32.9 per cent to CHF 5.96 billion compared to 2008. Gross profit decreased 20.9 per cent to CHF 1.38 billion in spite of the downsizing of the cost base by 14 per cent. The EBIT amounted to CHF 30 million (2008: CHF 193 million). In total the balance shows a group profit of CHF 10 million (2008: CHF 114 million). Transport volumes were impacted by the considerably reduced trade volumes of numerous large companies and other factors. In the reporting period Panalpina transported a total of 731,000 tons of air freight (down 19 per cent on 2008) and 1.103 million TEU (down 14 per cent). At the balance sheet date the specialist for continuous supply chain management solutions and intercontinental air and ocean freight transportations employed around 13,500 persons in around 500 business locations in more than 80 countries. Quelle: Österreichische Verkehrszeitung |