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Damco gross profit up 4%

India Infoline News Service | Mumbai | November 15, 2012 10:57 IST

Damco significantly improved results from 2009 onwards and this continues into 2012. The ocean freight volumes grew by 7%, airfreight volumes are up by 122% (incl. the effect of the NTS acquisition) and Supply Chain Management volumes increased with 5%

Damco, freight forwarding and logisticsservice providers, declares revenue growth of 11% in the first nine months of2012, compared to the same period last year. YTD gross profit was up 4% to USD 591.YTD EBIT grew 6% to USD 76 million.

Damco significantly improved results from 2009 onwards and this continues into 2012. The ocean freight volumes grew by 7%, airfreight volumes are up by 122% (incl. the effect of the NTS acquisition) and Supply Chain Management volumes increased with 5%. In Q3 Damco completed the acquisition of Pacific Global Networks which boosts its position inAustraliaand China-Hong Kong, and Damco also announced the relocation of the Headquarters fromCopenhagentoThe Haguein theNetherlands, which will take place in Q1 2013.

We have in this period further strengthened the foundation of our business and our results underline that we are moving in the right direction, Damco CEO, Rolf Habben-Jansen says. We are satisfied with our Q3 results, as whilst the overall figures are impacted by one-off costs related to the acquisition ofPacific Network Global Logistics and the relocation of our HQ to The Hague (for which we took a 5 MUSD provision), our underlying trading was ahead of 2011 and in line with our plans,Rolf Habben-Jansen added.

2012 Q3and YTD key financial figures and volume

Net Revenue

2011

Q3 2011

Q3 2012

Q3 YTD 2011

Q3 YTD 2012

Change % ? Q3 2011/Q32012

Total (million USD)

2.752

784

849

2.156

2.392

11%

Gross profit

2011

Q3 2011

Q3 2012

Q3 YTD 2011

Q3 YTD 2012

Change %

Total (million USD)

757

207

212

568

591

4%

EBIT

2011

Q3 2011

Q3 2012

Q3 YTD 2011

Q3 YTD 2012

Change %

Total (million USD)

97

35

25

72

76

6%

Volume

2011

Q3 2011

Q3 2012

Q3 YTD 2011

Q3 YTD 2012

Change %

Ocean (TEU)

750,000

196,000

206,700

554,800

596,100

7%

Air incl. NTS (tonnes)

110,000

31,000

64,300

67,500

150,000

122%

SCM (000 CBM)

47,000

13,400

14,500

35,300

37,100

5%











 

 
 
 
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