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Further weakening of Air Freight volumes impacts Panalpina’s profitability
Further weakening of Air Freight volumes impacts Panalpina’s profitability
Oct 12, 2012
Preliminary financial figures for the third quarter of 2012 indicate that the EBITDA of the Panalpina Group will come in at between CHF 15 and 20 million, which already incorporates a one-off extraordinary charge of CHF 12 million. Profitability was negatively impacted by disappointingly weak Air Freight volumes (-8% year-on-year) and a higher cost base. In September, the Group recorded particularly low Air Freight volumes.
“After a weak July and an improvement in August, we expected our Air Freight volumes to grow sequentially in September. However, compared to August they came in much weaker than seasonally normal, especially on Europe-related trade lanes,” says Panalpina’s CEO Monika Ribar.
Más información sobre este producto consulte en: http://www.panalpina.com/www/global/en/home/news_media/news_archive_folder/news_2012/12_10_12.html
