.. subcription
    .. rss channels
    .. press releases
    .. contacts

            october 18, 2019

.. in english  .. по-русски  .. latviski    

LKW Walter

CIBE 2019

Busworld 2019

  .. sitemap ..

  .. publications ..

  .. news ..

  .. advertisement ..

LKW Walter
LKW Walter Rus
  .. partners ..


Panalpina profit up 2pc


Swiss forwarding giant Panalpina posted a two per cent increase in first half year-on-year pre-tax profits (EBIT) to CHF60.1 million (US$66.5 million), drawn on revenues of CHF60.1 million, which declined three per cent, according to Shipping Gazette.
Logistics contributed to over all results by cutting losses and expanding its value-added services. Air freight grew four per cent and ocean freight volumes were up eight per cent.
"Our uncompromising execution of the strategy we outlined in November is starting to bear fruit," said Panalpina CEO Peter Ulber.
Panalpina's air cargo volumes grew in line with market growth. While rates remained under strong pressure, Panalpina put the focus on trade lane optimisation, the company said.
Ocean freight suffered high rate volatility and remained a problem, but is expected to grow 4-5 per cent, while logistics cut its EBIT loss of CHF17.6 million in the first half-year of 2013 to a loss of CHF4.3 million.
"This was a result of successfully exiting overland contracts in Europe, turning around loss-making facilities and implementing value-added services, said the company statement.
Said Mr Ulber: "The fact that low margins have absorbed much of the growth in the first half of 2014 goes to show just how important it is that we stay on course with our strategic execution.
"Turning around loss-making operations continues to be our firm focus. In the mid- and long-term, better IT systems and processes will help us improve productivity and profitability," he said.
Panalpina operates a global network of 500 offices in 70 countries and works with partner companies in another 90 countries and employs more that 16,000 people worldwide.

.. search ..