15 August – Damco - one of the world’s leading providers of freight forwarding and supply chain management solutions – continues to develop well. The global logistics company, which has reported significantly improved year-on-year results in 2010 and 2011, today announced continued good progress moving into the second half of 2012 despite tough conditions in the global freight markets.
Damco’s net revenue grew by 12% to 1,543 USD million compared to the same period last year. Gross profit is up 5% to USD 379 million. Damco´s EBIT for the first half of 2012 grew 42% to USD 51 million.
In the first half of 2012, Damco’s ocean freight volumes increased 9% compared with the same period in 2011, whilst airfreight tonnage growth was 135%. The latter includes the effects of the acquisition of the Chinese air freight forwarder NTS, but the underlying organic growth was still 42%. Damco’s supply chain management volumes increased 3% during the first half of 2012, driven by new recently secured accounts that started to ship with Damco in Q2.
“I am very pleased to see the continued above market, organic growth in our Air and Ocean freight business and we have also developed well on our Supply Chain Management volumes,” Damco CEO, Rolf Habben-Jansen said.
“It demonstrates that our customers find our services attractive and competitive,” Rolf Habben-Jansen added.
2012 Results are on track
Damco´s EBIT in the first half of 2012 was positively affected by the sale of warehousing facilities in China. At the same time Damco’s EBIT was negatively impacted by the restructuring of Damco’s European activities into mature and developing markets and Damco also invested more than planned to properly implement newly won business.
“Our results continue on the right path. Year-on-year our new business wins are up by over 20%. We continue to win more and more regular customers in our target industry verticals – despite the challenging market conditions in a number of key markets”, Rolf Habben Jansen commented.
“We expect that for the full year 2012 we will deliver above market growth in all of our main products – and our EBIT in 2012 will again be better than in 2011,” concludes Rolf Habben-Jansen, CEO of Damco.
Damco is one of the world’s leading third party logistics providers specialising in customised freight forwarding and supply chain solutions. The company has 10,800 employees in over 300 offices across 90 countries and representation in a further 30 countries. In 2011, the company had a net turnover of USD 2.8 billion, managed more than 2.5 million TEU of ocean freight and supply chain management volumes and air freighted more than 110,000 tonnes. Damco is part of the A.P. Moller - Maersk Group. www.damco.com