Panalpina betters bottom line
Panalpina presented mostly positive figures for 2018 at its headquarters in Basel (Switzerland). The takeover offer tabled by DSV and the possible collaboration with Agility were not mentioned. CEO Stefan Karlen said the two topics were matters for the board of directors.
The service providers’ gross profit increased by 7% to CHF 1.5 billion (2017: CHF 1.4 billion), and the total operating expenses fell by 3% to CHF 1.21 billion (2017: CHF 1.25 billion). Reported ebit jumped by 15% to CHF 118.4 million (2017: CHF 103.3 million) and the ebit-to-gross-profit margin stood at 7.9%, up from 7.4%. The consolidated profit vaulted by 32% to CHF 75.5 million (2017: CHF 57.5 million).
Last year, airfreight volumes increased by 4% and Panalpina transported more than 1 million t for the first time. Ocean freight volumes shrank by 2% year-on-year. Panalpina transported 1,484,114 teu in the period under review. (mw)