Panalpina Delivers Stable Profits During Turnaround

Panalpina delivers stable profits during turnaround

Oct 21, 2014

International freight forwarding and logistics company Panalpina kept up overall profitability in the first nine months of 2014. Undeterred by ongoing restructuring, group gross profit and EBIT both increased 1% (currency adjusted +6% and +4%), reaching CHF 1,178.7 million and CHF 94.4 million respectively. EBIT loss in Logistics was reduced drastically to CHF 6.9 million for the period of January to September (down from CHF 26.8 million in the same period of 2013). Air Freight and Ocean Freight volumes grew 4% and 8% year-to-date, but unit profitability decreased due to margin pressure and currency effects.