MADISON, New Jersey, November 10, 2011 - Damco - one of the world’s leading providers of freight forwarding and supply chain management solutions – continues to grow in 2011. Year-to-date, Damco’s ocean freight volumes increased 14% compared with the same period in 2010 - well above the market average.
Airfreight tonnage increased by 23% in the first nine months compared to the same period of 2010 which was above the general market and lifted through the acquisition of China based NTS. The supply chain management volumes were 3% lower than in the same period in 2010 due to a relatively weak consumer demand in North America and Europe.
Net revenue was up 6% to 2.156 M USD in the first nine months, gross profit increased 8% to USD 567.7 million compared with same period last year. Year-to-date the EBIT result comes to $73.2m, virtually unchanged from $73.1m for same period last year.
"The traditional annual peak season in Q3 was rather muted this year. Our result for the quarter is quite satisfactory given these difficult market conditions and the conscious investments we made in growth “says Rolf Habben-Jansen, Chief Executive Officer, Damco and continues:
“We continue to invest in growth, focused on selected industry verticals and on the high growth markets. The response from our customers on this has been very positive as illustrated by the again significantly increased customer satisfaction which reached an all-time high in 2011 and by a large number of new business contracts being concluded. Despite the challenging market we remain very positive about our ability to deliver on our growth strategy in the years to come” comments Habben-Jansen.
2011 first nine month year key financial figures and volume
|Net Revenue||2010||YTD 2010||YTD 2011||Change %|
|Total (million USD)||2,700||2037.4||2155.6||6%|
|Gross Profit||2010||YTD 2010||YTD 2011||Change %|
|Total (million USD)||707||525.3||567.7||8%|
|EBIT (before restructuring costs)||2010||YTD 2010||YTD 2011||Change %|
|Total (million USD)||85||73.1||73.2||0%|
|Volume||2010||YTD 2010 vs. YTD 2011|
|Air incl. NTS (tonnes)||75,000||23%|
|SCM ('000 CBM)||48,000||-3%|
Damco is one of the world’s leading third party logistics providers specializing in customized freight forwarding and supply chain solutions, offering a broad range of services to customers all over the world. The company has 10,500 employees in over 280 offices across 90 countries and representation in 120 countries in Africa, Asia, Australia, Europe, North America, Middle East, and Latin America. In 2010, the company had a net turnover of over USD 2.7 billion, managed more than 2.4 million TEU of ocean freight and supply chain management volumes and air freighted more than 75,000 tons. Damco is an independent business unit within the A.P. Moller - Maersk Group.