Basel, July 31, 2012 - In the second quarter of 2012, the Panalpina Group achieved a gross profit of CHF 363 million. This was only slightly below the previous year (-2%), despite a globally receding air freight market and several rate increases by ocean carriers that put pressure on margins. Panalpina’s volume growth in both Ocean and Air Freight was above the average market growth. Due to continued cost discipline EBITDA could be kept stable at CHF 34 million quarter-on-quarter. The Group achieved a consolidated profit of CHF 17 million.
“We managed to gain market shares. We did better than the market not only in ocean freight but also in air freight where the market declined further in the second quarter of 2012“, said CEO Monika Ribar. “In ocean freight, the carrier’s steep rate increases on important routes caused margin headwinds but thanks to our record volumes we could still increase the division’s gross profit.”