International freight forwarding and logistics company Panalpina increased its operating result and profit in the first quarter of 2015. Consolidated profit increased 10 per cent to CHF 19.6 million while EBIT increased 3 per cent (adjusted at constant currency rates: +12 per cent) to CHF 25.3 million, helped by a positive quarter in logistics. Year-on-year, EBIT and conversion rate increased in ocean freight as volumes grew by 5 per cent, but decreased in air freight where volumes only grew … [Read more...] about Logistics elevates Panalpina’s Q1 profit
Panalpina
Panalpina more than doubles EBIT
Panalpina finished the year 2014 on expectations. It more than doubled its EBIT to CHF 116.7 million (approx. US$12.90 million) in 2014 compared to the previous year. Consolidated profit jumped from CHF 11.7 million to CHF 86.5 million. Panalpina grew air freight volumes slightly ahead of the market and clearly outperformed the market in ocean freight. Significant progress was made in logistics, with the turnaround ahead of schedule. “In 2014, we executed on our clearly laid out … [Read more...] about Panalpina more than doubles EBIT
Panalpina expands air freight network to Brazil
Panalpina is expanding its controlled air freight network by adding a full-freighter service to Brazil. As of March, Panalpina will not only operate scheduled charter flights from Hong Kong to Huntsville, but also from Huntsville to São Paulo. The extended service is part of the recently renewed long-term agreement between Panalpina and Atlas Air. It offers scheduled main deck capacity to South America from the US and a record transit time of less than 40 hours from Hong Kong to … [Read more...] about Panalpina expands air freight network to Brazil
Panalpina and Atlas Air renew partnership
Panalpina and Atlas Air are strengthening their long-standing partnership in the air freight industry. As a cornerstone of a new five-year agreement, Panalpina will switch one of its wet-leased aircraft to more than 200 scheduled charters per year, thereby expanding its air freight network. “The new long-term agreement with Atlas Air will intensify our cooperation and increase our joint business,” says Lucas Kuehner, global head of Air Freight at Panalpina. “The switch from … [Read more...] about Panalpina and Atlas Air renew partnership
Panalpina expands Africa footprint
Panalpina has opened two new bases in Morocco and Kenya. The offices in Casablanca and Nairobi became fully operational in January, and support Panalpina’s growth strategy for the region. In both economies, opportunities for growth exist predominantly in the energy and infrastructure sectors. Panalpina has established its own offices in Morocco and Kenya, giving customers in these expanding economies a single point of contact, and direct access to the company’s global network and … [Read more...] about Panalpina expands Africa footprint
Panalpina delivers stable profits during turnaround
Panalpina kept up overall profitability in the first nine months of 2014. Undeterred by ongoing restructuring, group gross profit and EBIT both increased 1 per cent (currency adjusted +6 per cent and +4 per cent), 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 per cent and 8 … [Read more...] about Panalpina delivers stable profits during turnaround
