Significant turnover increase at Gefco in 2017
The Gefco Group, a global provider of industrial supply chain services and the European leader in automotive logistics, announced its 2017 full year results following another strong 12-month performance. Group revenue was EUR 4.4 billion, up 5.1 per cent from EUR 4.2 billion in 2016, with EBITDA accelerating 16 per cent to EUR 201 million.
Luc Nadal, Chairman of the Management Board of Gefco, said: “2017 has been another strong year for Gefco with progression in both our revenue and profitability, reflecting the strength of our offering to customers and our ongoing drive for operational excellence. Our strategy continues to deliver growth, as demonstrated by an improvement of over 8 per cent year on year in revenue from Market Clients. Our operational excellence programme, commenced in 2014, has made strong progress in turning around the company’s historically loss-making divisions.”
2017 marked a milestone in the group’s long-term improvement strategy with both the Overland and Freight Forwarding business returning to profit. Both divisions were underperforming when the new management team arrived in 2013, and have improved margins every year as a result of Gefco’s drive for operational excellence, writes the Gefco Group in a press release.