Uneasy times for XPO Logistics
Greenwich (USA)-headquartered XPO Logistics has reported for the full year 2020. The company generated revenues of USD 16.25 billion, a slight loss compared to the USD 16.65 billion in 2019 (-2,5%).
Operating income went down significantly to USD 391 million from USD 821 in 2019 (-52%). While revenues in the transportation segment went down by 4.6%, the revenues in the logistics segment showed a 1.5% increase to USD 6.2 billion compared to 2019. Also in this sector, operating income dropped by significant 41.9% to USD 140 million from USD 241 million in 2019.
While the North America region lost 4% in revenues, the logistics segment for Europe on the other hand showed revenues of USD 3.8 billion (+5.2%). CEO Brad Jacobs, chairman and CEO, did not comment on the rumours that XPO Logistics wants to sell its European business. (sh)