Panalpina group reports strong increase in volumes
Panalpina Management sees Asia as a growth driver of the coming months The Panalpina group (Basel) has had a good start into the year 2010. Strong volume growth is the evidence therefore. In the period between January and March air freight volumes grew by 24 per cent on a year-on-year basis. Ocean freight volumes grew by 22 per cent, thus outpacing the market. “While profitability per ton of air freight is showing clear signs of improvement, profitability per TEU of ocean freight is still under pressure“, the enterprise announces in a press release. In terms of tradelanes, Intra-Asian and Latin American related traffic recorded exceptionally strong growth. Turnover from forwarding services remained almost stable with CHF 1.96 billion. Gross profit showed a year-on-year decline of 13 per cent to CHF327 million, but increased by 5 per cent quarter-on-quarter. The group was well on track with the implementation of their procurement and sales initiatives. Moreover they managed to keep their costs at low levels and significantly increased productivity, CEO Monika Ribar summarises positively. The Panalpina Management assumes that Asia will be the major growth driver in the coming months as consumption in Europe will most likely take more time to recover. The company’s focus will thus remain on gross profit generation, accompanied by strict cost and cash control. Quelle: LogEastics |