Panalpina enjoys a lucrative 2014
Panalpina finished the year 2014 on expectations, more than doubling its EBIT to CHF 116.7 million (approx. US$12.9 million) in 2014 compared to the previous year.
April 1, 2015
Panalpina finished the year 2014 on expectations, more than doubling its EBIT to CHF 116.7 million (approx. US$12.9 million) in 2014 compared to the previous year. Consolidated profit jumped from CHF 11.7 million to CHF 86.5 million. Panalpina grew air freight volumes slightly ahead of the market and clearly outperformed the market in ocean freight. Significant progress was made in logistics, with the turnaround ahead of schedule.
In 2014, Panalpina’s net forwarding revenue remained stable at CHF 6.7 billion (2013: 6.76 billion), while group gross profit increased two per cent to CHF 1.59 billion (2013: CHF 1.56 billion).
Panalpina’s air freight volumes grew four per cent in 2014, slightly ahead of the market (3.5 per cent), transporting 857,800 tonnes of air cargo last year (2013: 825,100 tonnes).
Gross profit of the group’s logistics product continued to grow by per cent per cent to CHF 458.2 million in 2014 with the group further expanding its logistics manufacturing services (LMS) and other value-added services (VAS), particularly for the technology and fashion industries.
Summarising last year’s air freight market performance, Panalpina said: “In 2014, the global airfreight market grew by approximately 3.5 per cent, compared to one per cent in 2013. There was increased optimism in the market, as the airfreight industry showed cautious signs of recovery.