In the first nine months of 2017,
Panalpina grew volumes in air and ocean
freight compared to the same period of
last year. As the year progressed, group
gross profi t as well as EBIT increased
with every quarter. Year-on-year,
Panalpina’s reported EBIT increased
from CHF 67.5 million (adjusted YTD
2016: CHF 93.6 million) to CHF 72.1
million and the reported consolidated
profi t increased from CHF 46.5 million
(adjusted YTD 2016: CHF 72.6 million)
to CHF 48.4 million.

Panalpina’s air freight volumes
increased 8 per cent in the first nine
months of 2017, broadly in line with
market growth. From January to
September, gross profit, unit profitability
and EBIT in air freight increased with
every quarter. Compared to the same
period of last year, gross profit per ton
decreased 7 per cent to CHF 632 (YTD
2016: CHF 678), resulting in a gross
profi t of CHF 456.0 million (YTD 2016:
CHF 453.4 million). Reported EBIT in
air freight increased from CHF 60.0
million (adjusted YTD 2016: CHF 72.6
million) to CHF 69.4 million. Th e EBITto-
gross-profIt margin for the fi rst nine
months of 2017 came in at 15.2 per cent
compared to 13.2 per cent (adjusted
YTD 2016: 16.0 per cent) a year before.