English Arabic Armenian Azerbaijani Chinese (Simplified) Chinese (Traditional) Czech Danish Dutch Estonian Filipino Finnish French Galician Georgian German Greek Hindi Hungarian Icelandic Indonesian Italian Japanese Korean Latvian Lithuanian Malay Maltese Norwegian Persian Polish Portuguese Russian Slovak Slovenian Spanish Swedish Thai Turkish Ukrainian Vietnamese

Nine-month repeat profit for Panalpina

PRESS RELEASE

October 20, 2015: Panalpina has reported a net profit of CHF69.3 million on revenue of CHF4.41 billion for the first nine months of 2015. In the same period last year the company produced a net profit of CHF69.2 million on revenue of CHF4.95 billion.

Group gross profit decreased 6.0 percent to CHF1,107.3 million (currency adjusted: CHF1,177.0 million or 0.0 percent), while EBIT decreased 2.0 percent to CHF92.4 million (currency adjusted: CHF102.7 million or +9.0 percent).

EBIT was up in ocean freight and positive in logistics (compared to a loss from January to September 2014) but down in airfreight.

"In the first nine months of the year we succeeded in keeping EBIT and consolidated profit at previous year levels, despite a contracting airfreight market in the third quarter, our exposure to the oil and gas industry and historically high IT investments," said Panalpina CEO Peter Ulber.

Commenting on the outlook for ther remainder of the year he added: "The air and ocean freight markets will continue to be soft at best and a rebound of the oil price in the near future seems unlikely. It is all the more important that we continue to control cost with great discipline and implement new IT systems and processes in order to improve our productivity. We will accelerate our investments in less cyclical business to further reduce our exposure to certain industries."

Airfreight
In a very soft airfreight market that grew less than 1.0 percent from January to September 2015, Panalpina's airfreight volumes decreased 2.0 in the same period.

Panalpina transported less oil and gas and automotive cargo, but more perishables. Gross profit per ton decreased 4.0 to CHF715 (YTD 2014: CHF745), resulting in a total gross profit of CHF439.7 million (YTD 2014: CHF469.0 million). Airfreight achieved an EBIT of CHF67.6 million (YTD 2014: CHF85.3 million), while the EBIT-to- gross-profit margin for the first nine months of 2015 decreased to 15.4 percent (YTD 2014: 18.2 percent).

Ocean freight
Panalpina's ocean freight volumes grew 1.0 percent in the first nine months of 2015, which was slightly below market growth of 2.0 percent.

Gross profit per TEU decreased 3.0 percent to CHF300 (YTD 2014: CHF309) resulting in a total gross profit of CHF362.2 million (YTD 2014: CHF370.4 million). Ocean freight posted an EBIT of CHF22.8 million (YTD 2014: CHF16.0 million) and the EBIT-to-gross profit margin increased to 6.3 percent in the first nine months of 2015 (YTD 2014: 4.3 percent).

Logistics
In logistics, gross profit decreased 10.0 percent to CHF305.5 million (YTD 2014: CHF339.3 million) as a result of currency translation and the continued exit from underperforming sites.

In the first nine months of 2015, a positive EBIT of CHF2.0 million was achieved, compared to an EBIT loss of CHF6.9 million in the same period of last year. Logistics recorded the third positive quarter on EBIT level in a row.

More News

Written on 07/12/2017, 22:33
russian-railways-to-invest-rub7-7-trillionMOSCOW: December 04, 2017. Speaking at the III Railway Congress at the beginning of this month, OJSC Russian Railways president Oleg Belozerov said the...
Written on 07/12/2017, 16:12
first-b777-freighter-for-turkish-cargoISTANBUL: December 07, 2017: Turkish Airlines has taken delivery of the first of two B777 freighters due to arrive in 2017 at a ceremony in Istanbul this...
Written on 06/12/2017, 20:49
cma-cgm-supports-green-santa-clausMARSEILLE: December 06, 2017. CMA CGM and French clothing manufacturer Kaporal Group have launched a limited edition collection called 'Shipping the...
Written on 06/12/2017, 16:57
jal-invests-in-supersonic-boomTOKYO/DENVER: November 05, 2017. Japan Airlines (JAL) has invested US$10 million and placed options for up to 20 Boom Supersonic aircraft as part of a...
Written on 05/12/2017, 21:47
freightweek-news-update-week-49COPENHAGEN: Maersk Line makes westbound network changes as Asian port congestion causes sailing delays. Read more: Advisory.pdf PARIS: December 08, 2017....
Written on 05/12/2017, 17:13
virgin-hyperloop-one-to-link-bengaluru-and-chennai-in-25-minutesBENGALURU, India: December 05, 2017. Virgin Hyperloop One has signed an MoU with the Indian state of Karnataka to determine the economic impact of its...
Written on 01/12/2017, 18:49
dhl-s-first-converted-a330-300-just-needs-paintDRESDEN: December 01, 2017. DHL Express has taken delivery of the first A330-300 Passenger-to-Freighter (P2F) conversion from Elbe Flugzeugwerke (EFW),...
Written on 29/11/2017, 21:29
cargolux-nca-code-share-to-include-frankfurt-hahnLUXEMBOURG: November 29, 2017. Cargolux has signed a new code-share and capacity swap agreement with Nippon Cargo Airlines (NCA) between Europe and Japan...
Written on 29/11/2017, 00:08
smart-retailer-ocado-signs-ecommerce-deal-with-groupe-casinoLONDON/PARIS: November 28, 2017. UK online grocery retailer Ocado Group is to provide its proprietary eCommerce technology to French bricks and mortar...
Written on 28/11/2017, 19:06
swiss-world-cargo-expands-pharma-corridorsZURICH: November 28, 2017. Swissmedic, responsible for the authorization and supervision of therapeutic products in Switzerland, has renewed the...
Written on 27/11/2017, 20:02
freightweek-news-update-week-48BRUSSELS: November 30, 2017. The European Commission has updated its list of 178 airlines banned from the EU for safety reasons. Read...
Written on 26/11/2017, 22:46
air-canada-cancels-freighter-networkTORONTO: November 24, 2017. Air Canada Cargo is terminating its B767 freighter services to and from Mexico, Dallas-Fort Worth, Atlanta, Bogota, Lima and...
Written on 26/11/2017, 20:34
qatar-helps-deliver-sight-to-childrenDOHA: November 25, 2017. Qatar Airways has renewed its sponsorship of Orbis UK, the global charity that fights avoidable blindness through access to...
Written on 24/11/2017, 22:20
hna-buys-australian-reefer-logistics-businessPERTH, Australia: November 23, 2017. HNA International is to buy the refrigerated logistics business of Australia's largest auto retailer Automotive...
Written on 24/11/2017, 20:53
alibaba-adds-online-technology-to-offline-retailingHONG KONG: November 21, 2017. The Alibaba Group is acquiring a 36.16 percent stake in the Sun Art Retail Group for US$2.88 billion Sun Art is a...
Written on 21/11/2017, 15:20
freightweek-news-update-week-47ABU DHABI: November 26, 2017. Etihad Airways has appointed Justin Carr as the airline's new vice president Cargo. Carr is a former DHL senior executive....
Written on 18/11/2017, 22:25
crowley-supports-puerto-rico-power-restorationSAN JUAN, PR: November 17, 2017. Puerto Rico's Electric Power Authority director Ricardo Ramos resigned today as the government acknowledged that only...
Written on 18/11/2017, 16:13
emirates-skycargo-signs-ecommerce-mouDUBAI: 18 November, 2017. Emirates SkyCargo has signed an MoU with Dubai CommerCity (DCC) – a free zone dedicated to eCommerce in the MENA...
Written on 17/11/2017, 23:08
qantas-plans-mustard-power-for-trans-pacificSYDNEY: November 18, 2017. Qantas is to operate the world's first bio-fuel B787-9 flight between Melbourne and Los Angeles next year based on Brassica...
Written on 17/11/2017, 20:43
yusen-buys-tibbett-logistics-in-romaniaWOODFORD GREEN, UK: November 17, 2017. The Keswick Enterprises Group is selling its Romanian Tibbett Logistics subsidiary to Amsterdam-based Yusen...

- powered by Quickchilli.com -