Panalpina Achieves Considerable Cash Flow Increase

Panalpina achieves considerable cash flow increase

Apr 29, 2009

The Panalpina Group more than quadrupled free cash flow and grew gross profit per unit of cargo well above 20% in the first quarter 2009. In a very difficult market environment, the company’s gross profit declined by 11,4% compared to the same period of 2008 (-7.7% in local currencies). The implemented cost-cutting program shows encouraging results and is in line with the previously announced target of CHF 130 million savings until the end of the year. Net earnings decreased to CHF 1.9 million.