Press release
Analytiqa: Logistics Bulletin: Friday 03rd November
This week's Logistics Bulletin reports on strong results from Panalpina for the first nine months of 2006. The Group has increased EBITDA, EBIT and net earnings by 42.5%, 56.7% and 44.2%, respectively, when compared to the 2005 nine month period. TNT has also released strong third quarter and nine month results for 2006, however these have been overshadowed by the news that the Company is to sell off its freight management business, just two months after the sale of its logistics division.Elsewhere, other M&A news comes from Austrian Post acquiring a majority stake in trans-o-flex and FedEx Express, acquiring its Indian service provider, Prakash Air Freight.
News from across the supply chain includes A.S. Watson leasing a new distribution centre, representing an investment of £132.0 million, for its two retail chains Superdrug and Savers. Inditex, the Spanish fashion distributor, has also invested in its supply chain with the launch of logistics platform in León, Spain. Other distribution centre news includes OOCL Logistics opening a distribution centre in Shanghai, whilst Gazeley has gained planning permission to build four DCs in the UK. Contract wins this week come from Wincanton, Schenker, BAX Global, Logista and Kuehne + Nagel.
TNT decides to divest Freight Management business unit
30 October 2006 - Peter Bakker, CEO of TNT, stated: "the business unit as such is in excellent shape, however, as we are focusing on the growth opportunities in our core Mail and Express network distribution activities, our Freight Management business unit would benefit from a different corporate environment. Our initial exploration has identified strong interest in this business."
Relesasing Q3, 2006 results, TNT announced that it had finished an evaluation of synergies between TNT Freight Management (TFM) and Express. Revenue growth has been strong, exhibiting 10.1% growth to reach €219.0 million, and an improving margin in Q3, 2006 of 2.3%. However, TNT compared the TFM / Express synergies with other growth opportunities and concluded to sell the TNT Freight Management operations.
TNT Freight Management is a freight forwarding business using air and sea transportation and originates from Wilson Logistics which was acquired by TNT in 2004. The business unit employs 2,300 people, operating from 126 offices in 28 countries with a significant presence in the Nordic region. The business unit represents approximately €800.0 million in annual revenues.
The intention to divest the Freight Management unit does not come as a surprise. In July, TNT stated that the division's future was under review. TNT Freight Management had reported good revenue growth (7.2%) and a margin improvement, from 1.5% to 2.4% in Q2. Revenues reached €208.0 million in Q2, 2006, up from €194.0 million in Q2, 2005.
In August 2006, TNT announced it was to sell its logistics division to affiliates of Apollo Management, L.P., a leading private equity firm, as part of TNT's Focus strategy in which the Company announced on December 6th last year that it would focus on its core competency of managing delivery networks. The sale is due to complete in Q4, 2006.
Elsewhere this week:
Panalpina releases strong results for the first nine months of 2006
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TNT releases third quarter results 2006
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Austrian Post acquires a majority stake in trans-o-flex
http://www.analytiqa.com/newsitem.aspx?articleid=1995
FedEx to acquire express company in India
http://www.analytiqa.com/newsitem.aspx?articleid=2002
A.S. Watson invests £132.0 million into its supply chain
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Inditex launches logistics platform in Leon
http://www.analytiqa.com/newsitem.aspx?articleid=1997
OOCL Logistics opens new warehouse in Shanghai
http://www.analytiqa.com/newsitem.aspx?articleid=2000
Gazeley to develop four distribution centres in Kent, UK
http://www.analytiqa.com/newsitem.aspx?articleid=2003
VIB Vermögen acquires high-yield logistics real estate
http://www.analytiqa.com/newsitem.aspx?articleid=2008
Wincanton expands seasonal operation for Sainsbury's
http://www.analytiqa.com/newsitem.aspx?articleid=1993
Wincanton wins two contracts distributing milk
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Samsung Electronics renews business with BAX Global
http://www.analytiqa.com/newsitem.aspx?articleid=1999
Schenker and BAX Global strengthen relationship with BOC Edwards
http://www.analytiqa.com/newsitem.aspx?articleid=2001
Logista wins business with Cepsa
http://www.analytiqa.com/newsitem.aspx?articleid=2004
Weber signs contract with Kuehne + Nagel
http://www.analytiqa.com/newsitem.aspx?articleid=2009
European Sales Director appointed by Penske
http://www.analytiqa.com/newsitem.aspx?articleid=2006
UPS expands service for trade with Japan
http://www.analytiqa.com/newsitem.aspx?articleid=2007
Click www.analytiqa.com/news.aspx for additional developments added daily.
Analytiqa
Gate House, Fretherne Road,
Welwyn Garden City, UK, AL8 6NS
Tel: +44 (0)1707 37 22 11
Email: info@analytiqa.com
Contact: Editor, Logistics Bulletin
List of Key Industry Participants:
ABX LOGISTICS; BAX Global; CH Robinson; DHL Global Forwarding; EGL; Exel; Expeditors; FedEx; GeoLogistics; Hellmann Worldwide Logistics; Kintetsu World Express; Kuehne & Nagel; Maersk Logistics; Nippon Express; Panalpina; Schenker; SDV; UPS SCS; UTi Worldwide Logistics; Yusen; Wincanton; APL Logistics; TDG; Rhenus Logistics; Penske Logistics; DPWN; DHL; DHL Exel Supply Chain; Federal Express; Schneider Logistics; Schneider National; Schenker Logistics; Stinnes; Gist; Eagle Global Logistics; Menlo Worldwide; Jones Lang LaSalle; ProLogis; DTZ; Gazeley; Groupe Norbert Dentressangle; National Logistics Company; TNT; TNT Logistics; Gefco; Maersk; Geodis; GEFCO; Bibby Distribution; Global Automotive Logistics; Autologic; NYK Logistics; Dachser; DSV; Fiege; Frans Maas; Hellmann Worldwide; MOL; KWE; Kintetsu; Ewals; UPS; Ryder.
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