Panalpina posts US$152.1m profit, up 53pc in 2006
Swiss forwarding and logistics group Panalpina boosted 2006 net earnings by 52.5 per cent to CHF184 million (US$152.14 million).
Group Ebitda rose 46 per cent year on year to CHF313 million and included net non-recurring gains of CHF13.7 million. "Profitability has substantially improved and top-line growth was solid," said CEO Monika Ribar. Net forwarding revenue rose by 11.3 per cent to CHF7,735 million, owing to steady growth across all regions. Growth in the Asia Pacific came in at 15.6 per cent; 12.4 per cent growth was recorded for Europe/Africa/the Middle East and CIS; North America was up by 10.6 per cent and Central and South America rose 1.2 per cent.
Consolidated gross revenue increased by 12.3 per cent over 2005 to CHF9,301 million.
All of Panalpina's businesses were said to have performed well. Most notably, reflected in increased airfreight volumes, up 10.5 per cent year on year to 870,000 tonnes with ocean freight rising 17.4 per cent, carrying more than one million TEU for the first time.
Net forwarding airfreight revenue grew 8.9 per cent and by 4.7 per cent in supply chain management. The sea forwarding business saw its EBIT rise from CHF403 million in 2005 to CHF492 million in 2006.
Airfreight grew only slightly less with volumes hitting 870,000 tonnes, up 10.5 per cent. Net forwarding revenue for the business unit grew proportionally to CHF3,713 million and EBIT to CHF687 million.
