Panalpina’s half year 2018 results show improvements in EBIT and revenue

Panalpina has recorded a sound first half year of 2018 with sustained margins and double-digit profitability growth across operating segments. From January to June 2018, Panalpina increased EBIT from CHF*42.0m to CHF 54.7m and net forwarding revenue from CHF 2,632.1m to CHF 2,916.5m. This mainly occurred because of the 3% increase in Air Freight volumes and its strict cost control policies.

Even though Panalpina’s Ocean Freight volumes decreased by 3% year-on-year, gross profit per TEU slightly increased in the first half year of 2018 by 6.0% to CHF 299 (YTD 2017: CHF 283) and EBITDA went up by 151.17% to CHF 11.6m (YTD 2017: CHF 4.6m).

On the other hand, in the Air Freight segment the volumes increased by 3% in the first half of 2018. Compared to the same period of last year, gross profit per ton increased by 16% to CHF 725 (YTD 2017: CHF 623), bringing EBITDA to CHF 91.7m (YTD 2017: CHF 33.1m). EBIT in Air Freight increased from CHF 39.1m to CHF 53.4m. The Its EBIT-to-gross-profit margin came in at 15.1% compared to 13.3% a year before.

“2017 was a record air freight year though, so the comparison will be tough, and uncertainties in international relationships will increase volatility in the air and ocean freight markets and possibly change trade patterns,” said Panalpina CEO Stefan Karlen.

Source: Panalpina