C.H. Robinson all over the ocean
3PL C. H. Robinson has released its full-year results for 2021: revenues went up by 42.5%, amounting to USD 23.1 billion. Operating income grew almost to the same extent, with a 37.8% uptick to USD 1.08 billion. Yet, profit margin rose only slightly from 4.15% in 2020 to 4.68% for 2021.
The company’s operating expenses increased last year, with personnel expenses rising by 24.2% to USD 1.5 billion. The sector with the largest growth compared to the previous year was ocean freight, climbing by 50.8% from USD 350.09 million to USD 711.22 million in 2021.
The remaining segments also surged, gross profit amounting in air (USD 225.29 million), customs (USD 100.54 million), sourcing (USD 100.09 million) and finally other logistics services rising 7.5% to USD 210.96 million.
Ocean freight gross profits were up by as much as 86.5%, driven by a 78% increase in adjusted gross profit per shipment and a 5% growth in volumes. (sh)