Press release
Analytiqa: Logistics Bulletin: Friday 02nd November
This week's Logistics Bulletin reports on further performance updates from leading logistics providers, with a European focus led by Panalpina (net forwarding revenue increased 11.6% for 9M, 2007), DSV (3.2% organic growth for 9M, 2007), Geodis (Q3 organic revenue growth of 7.0%) and Norbert Dentressangle (growing 9M revenue by 8.9% on a like-for-like basis). Elsewhere, reports in the German press suggest that Fiege is to divest unprofitable businesses as part of a restructuring plan.Among the contract wins announced this week, APL Logistics and E. Sutton have agreed a contract extension, whilst Solvay, who has worked with Panalpina for over ten years, has awarded the logistics provider with additional air freight business. Also reported this week was a joint venture for Staples and UPS in China, whilst LSG Sky Chefs has signed a strategic deal with Kuehne + Nagel, representing the most extensive partnership between an in-flight service provider and a logistics company.
Panalpina report persistent growth and strong profitability increase
01 November - Panalpina has continued its strong organic growth and again improved its profitability in the first nine months of 2007. Substantial new business wins in the major strategic key industries helped to further increase market shares in all areas. Gross profit grew by 16.4%, EBIT by 33.1% and net earnings by 33.3%.
While all regions contributed with double-digit gross profit growth rates, the Company keep expanding its market shares in air freight, ocean freight and supply chain management. The Company reported that in view of the overall solid world economy, it is confident of meeting its growth targets for 2007.
For the first nine months of 2007, Panalpina’s gross revenue increased 13.9% to CHF7,712.8 million, net forwarding revenue increased 11.6% to CHF6,287.4 million. EBIT reached CHF224.4 million as net earnings climbed to CHF158.8 million.
Contribution margin (gross profit) increased by 11.0% in Central and South America, 14.0% in North America, 16.8% in Asia / Pacific and 18.0% in Europe / Africa / Middle East / CIS, which demonstrates that the solid overall performance continues to be supported by contributions from all of Panalpina’s reporting regions. While Asia-outbound remains the most important traffic generator for the industry, Panalpina experienced particularly strong demands on the Europe-to-Africa and the Latam-to-Noram routes in air freight and in the intra-Asian and Latam-to-Noram traffics in ocean freight.
Panalpina further expanded its market shares by persistently growing above the respective growth rates in all core activities. Air freight tonnages increased by 8.7% (market slightly below 5.0%) and ocean freight volumes by 15.1% (market 9 to 10%). In terms of gross profit, air freight grew by 19.2%, ocean freight by 8.8% and supply chain management activities by 21.0%.
Panalpina’s strategic key industries, which include the automotive, healthcare, retail and fashion, hi-tech, telecom and the oil & gas sectors, showed very satisfying developments throughout. Among the many business wins in the third quarter were substantial new ocean freight contracts with a global telecommunications solutions provider and a leading car manufacturer as well as major air freight contracts with a global sports apparel manufacturer, a world-leader in mobile communication and a global player in healthcare and lifestyle technology. A further interesting new contract was signed for the transportation of high-value pharmaceutical and healthcare products with Panalpina’s long-standing customer Solvay Chemicals.
The effect from the suspension of certain services in Nigeria and related costs (including legal and advisory fees of CHF2.0 million) impacted the Group’s EBITDA in the third quarter by CHF7.5 million. The Company is therefore confident that the total EBITDA impact will be confined to the earlier forecasted range of CHF20.0 to 30.0 million for the full year 2007 and CHF40.0 to 50.0 million for 2008. Moreover, the EBIT 2007 suffered from a one-time goodwill impairment of CHF11.3 million related to the Nigerian subsidiary. Panalpina’s resolute efforts to further strengthen its worldwide compliance organisation and staff training initiatives are progressing according to plan.
Elsewhere this week:
Fiege to divest loss-making operations?
http://www.analytiqa.com/newsitem.aspx?articleid=3116
DSV report 3.2% organic growth for 9M, 2007
http://www.analytiqa.com/newsitem.aspx?articleid=3115
Geodis reports positive Q3 performance
http://www.analytiqa.com/newsitem.aspx?articleid=3112
Norbert Dentressangle grow 9M revenue by 10.3%
http://www.analytiqa.com/newsitem.aspx?articleid=3097
APL Logistics and E. Sutton agree contract extension
http://www.analytiqa.com/newsitem.aspx?articleid=3105
Solvay awards Panalpina with additional air freight business
http://www.analytiqa.com/newsitem.aspx?articleid=3099
Staples and UPS announce JV in China
http://www.analytiqa.com/newsitem.aspx?articleid=3096
LSG Sky Chefs sign strategic deal with Kuehne + Nagel
http://www.analytiqa.com/newsitem.aspx?articleid=3106
The Moret Group selects Summit Global Logistics
http://www.analytiqa.com/newsitem.aspx?articleid=3100
A&B Properties adds logistics-friendly industrial park to portfolio
http://www.analytiqa.com/newsitem.aspx?articleid=3098
ProLogis pre-leases logistics facility to Unilever in China
http://www.analytiqa.com/newsitem.aspx?articleid=3102
KX Logistics lease DC in China
http://www.analytiqa.com/newsitem.aspx?articleid=3103
Newell Rubbermaid Californian DC
http://www.analytiqa.com/newsitem.aspx?articleid=3107
Northern Logistic Property Buys DSV's headquarters
http://www.analytiqa.com/newsitem.aspx?articleid=3111
Kuehne + Nagel expands its capacities at Duisburg
http://www.analytiqa.com/newsitem.aspx?articleid=3108
New Hub enhances DHL's operation in Ireland
http://www.analytiqa.com/newsitem.aspx?articleid=3118
Sponda acquires purchases logistics property in Helsinki
http://www.analytiqa.com/newsitem.aspx?articleid=3109
Organize-It expands logistics operations
http://www.analytiqa.com/newsitem.aspx?articleid=3110
Metcash opens new logistics centre
http://www.analytiqa.com/newsitem.aspx?articleid=3114
Delhaize selects speech recognition engine for logistics centre
http://www.analytiqa.com/newsitem.aspx?articleid=3095
Intec signs pan-European data mediation deal with DHL
http://www.analytiqa.com/newsitem.aspx?articleid=3117
Maersk Logistics to lower carbon emissions in supply chains
http://www.analytiqa.com/newsitem.aspx?articleid=3104
CEVA Vice Chairman appointed to board of directors of Jacksonville Port Authority
http://www.analytiqa.com/newsitem.aspx?articleid=3094
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Prices, profits, volumes and future investment in road transport markets
Expert opinion: detailed analysis of 1,200 surveys with European road hauliers
...by how much and for what reasons have transport prices changed in the UK?
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...by how much and why have operating costs changed The Netherlands?
...what are haulier investment priorities in the Czech Republic?
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Market size, market sectors, market shares and outsourcing rates: 2000 - 2011
Analytiqa’s Western European Logistics research provides an analysis of past market performance along with forecast growth trends across seven major countries, in five key sectors.
See www.analytiqa.com for more details
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List of Key Industry Participants:
ABX LOGISTICS; Agility Logistics; BAX Global; CEVA Logistics; CH Robinson; DHL Global Forwarding; EGL; 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; Exel; Federal Express; Schneider Logistics; Schneider National; Schenker Logistics; Stinnes; Gist; Eagle Global Logistics; Menlo Worldwide; Jones Lang LaSalle; ProLogis; DTZ; Gazeley; Goodman; AMB Property; Groupe Norbert Dentressangle; National Logistics Company; TNT; Gefco; Maersk; Geodis; GEFCO; Bibby Distribution; Global Automotive Logistics; Autologic; NYK Logistics; Dachser; DSV; Fiege; Hellmann Worldwide; MOL; KWE; Kintetsu; Ewals; UPS; Ryder.
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