Mainfreight revenues up 12.9% in 2018

Mainfreight has released its results for the financial year ended March 31, 2019. Revenues totalled NZ$2,954.1m, up 12.9% year-on-year or 10.8% at constant exchange rates.

EBITDA totalled NZ$257.1m, up 19.5% year-on-year or 18% at constant exchange rates.

Net profit totalled NZ$141.08m, up 26.0% year-on-year.

The company stated that it developed across its three core products. Revenues in the Transport segment (domestic transportation), totalled NZ$1,450.9m. Revenues in the Logistics (warehousing) business totalled NZ$346.567m, whilst

Air and Ocean and CaroTrans (international freight forwarding) revenues totalled NZ$1,156.6m.

Revenues by geographic location grew in all segments apart from Asia. New Zealand 2018 revenues totalled NZ$718.201m, up 7.9% at constant currencies, Australia 2018 revenues totalled NZ$779.490m, up 13.9% at constant currencies, the Americas 2018 revenues totalled NZ$779.744m, up 13.5% at constant currencies. Europe 2018 revenues totalled NZ$677.509m, up 12% at constant currencies. Asia revenues totalled NZ$186.730m, down 11.2% at constant currencies.

Mainfreight stated that it managed to improve delivery times and that it was able to secure new customers and to provide import and export service to new regions. Mainfreight also intensified its global branch network within cities and between countries.

Mainfreight is also planning to invest a further NZ$350m on land and buildings and to continue investing in leased facilities to meet customer demand.

Source: Mainfreight