The international freight forwarding and logistics company Panalpina ended the year 2017 with strong Air Freight volumes and margins, while in the fourth quarter margin pressure continued to impact the financial results in Ocean Freight. For the full year, Panalpina’s reported EBIT increased from CHF 82 million to CHF 103.3 million.
Panalpina’s Air Freight volumes increased 8 per cent in 2017. The company transported 995,900 tonnes of air cargo last year (2016: 921,400), the highest volumes in the company’s history. The group’s Ocean Freight volumes increased 2 per cent year-on-year. Panalpina transported 1,520,500 TEU in 2017 (2016: 1,488,500 TEU). In Logistics, gross profit decreased 14 per cent to CHF 331.1 million year-on-year (2016: CHF 385.7 million), For the full year, Logistics posted an EBIT of CHF 8.1 million, compared to CHF 1.8 million (adjusted 2016: CHF 5.6 million) for the same period last year.
“The fact that all relevant economic indices are trending upwards makes us reasonably confident for 2018,” says Panalpina CEO Stefan Karlen. “We have made solid progress in Air Freight and reached a good cruising altitude on which we can build. In Ocean Freight, we know what needs to be done to make it into calmer waters again and in Logistics, the focus remains on top-line growth by further expanding our offering of value-added services.”