Gefco 's air & sea wins in 2020
It is the pandemic paradox again. In 2020, Gefco experienced a 19.7% fall in revenues due to disruptions in customers’ businesses around the world, but maintained a 3.7% ebit margin, (4.3% in 2019). In total, Gefco's revenues in 2020 amounted to EUR 3.8 billion, a 19.7% decrease compared to FY/2019 (an -17.3% like-for-like).
The group attributed the moderate decline in the ebit margin to 3.7% to its stable financial position, operating profitability and strict working capital management. The finished vehicle logistics (FVL) division performed in line with the automotive industry (22% drop in European automotive) with revenues of EUR 1.5 billion (-21.9%).
Q4/2020 was at par with Q4/2019. Overland and contract logistics (OVL & CL) saw revenues decreasing 19.7% to EUR 1.8 billion, while the industrial services (IS) division reported revenues of EUR 90.8 million, down 38.3%.
The air & sea (A&S) division experienced strong demand for time-critical solutions by air to distribute essential medical supplies and personal protection equipment from Asia to Europe and North America. Revenues rose to EUR 339.8 million, an improvement of +1.6% versus 2019. (sh)