Freight forwarding drives increase in GEFCO turnover

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The GEFCO group generated a turnover of €2.2bn during the first term of 2016, up to 3.5% compared to the same period in 2015. This increase was driven mainly by the freight forwarding activity following the acquisition of IJS Global at the end of 2015, as well as by the market recovery of the European car market and the growth among large industrial customers. In particular, growth was generated in Western Europe, the Maghreb countries and Central and Eastern Europe.

EBITDA for the first six months of the year amounts to €91.3m, increasing by 27.5% compared to the same period in 2015.

So far in 2016 GEFCO has expanded its customer portfolio, including major accounts. New 2016 contracts included one signed with Fiat in Brazil for the transport of spare parts, another with an equipment manufacturer in France for 4PL services, and another with a manufacturer for storage services in China.

Also in 2016, GEFCO finalized the acquisition of the Dutch freight-forwarding company IJS Global. The acquisition has strengthened GEFCO’s presence in the major geographic areas for the freight forwarding activity, including China and South East Asia, Australia, New Zealand, as well as the US. This geographical expansion has extended the number of subsidiaries to 44. The acquisition of IJS Global has also enabled GEFCO to further diversify its customer portfolio as the company specializes in the transport of pharmaceuticals, high tech or aerospace products.

Chairman of the Management Board of GEFCO Group, Luc Nadal, said, “This first 2016 semester represents a significant rebound in GEFCO profitability. They show GEFCO’s capacity to create value for our customers and partners, even in challenging environments”.

Source: GEFCO