Earnings drop for Freja
Freja Transport & Logistics Holding has presented a satisfactory but not Star-studded result for 2018. The company's subsidiaries in Norway and Finland delivered better than the market results once again, while the Swedish subsidiary posted disappointing figures again.
2018 was “year one” after the acquisition of Transcargo, which led to some integration costs. The Danish part of Transcargo is now 100 % implemented and merged into the Danish Freja.
Freja's 2018 turnover totalled DKK 3.12 billion (EUR 417.8 million). Ebit came in at DKK 51.4 million (EUR 6.8 million) in 2018 (2017: DKK 41.6 million/EUR 5.5 million). The result before tax amounted to DKK 38 million (EUR 5 million) in 2018 (2017: DKK 59.4 million/EUR 8 million).
The Swedish entity still expects a loss for 2019 and the parent company has added the necessary capital. The newly acquired company in Poland is developing well, and China has had a great progress in terms of turnover and earnings. (mw)