Slight growth despite downturn with GLS Group

GLS Group defied economic crisis 2008

It is a particularly difficult economic environment, in which the European parcel, express and logistics service provider General Logistics Systems (Amsterdam) is operating. Nevertheless CEO Rico Back is satisfied with the overall result of the fiscal year 2008/09. As a logistics provider that services almost all sectors, GLS is not immune from the crisis, the Manager commented on the key figures of forwarded volumes, turnover and profit that were lower than their expectations. However, Mr. Back emphasised that „the enterprise generates a high turnover and is free of debts”. Last year the Group invested EUR 66 million to further strengthen its networks.

Compared with the fiscal year 2007/08 GLS Group revenues increased by 2.4 per cent to EUR 1.8 billion. In the second half of the year, prices as well as volumes were under considerable pressure and impacted the operative result (EBIT), which fell by 7.5 per cent to EUR 149 million. The number of parcels shipped by 13,000 employees for 228,000 customers rose to 350 million. Volume decreases in standard parcel business due to the crisis were less pronounced than in other logistics segments such as freight and express.