Logistics giant Panalpina has reported year-on-year profit up 14.8 per cent in 2007 to CHF210.6 million (US$208.2 million).
Gross revenue grew by 13.4 per cent to CHF10.59 billion despite freight rate increases, while Ebitda increased by 15.4 per cent over last year to CHF360.8 million.
"The results demonstrate both our strong position in the market, the continued trust of our customers around the globe and the excellent performance of Panalpina's management and employees," said CEO Monika Ribar.
Panalpina said it saw strong growth in all core activities and geographic regions during 2007. It grew airfreight tonnage by 8.4 per cent to 947,000 tons and ocean freight volumes by 13.7 per cent to 233 million TEU.
Geographically, the overall 12.3 per cent organic increase in Panalpina's net forwarding revenue was contributed to by all regions, except North America, which remained at the same level but doubled its Ebit.
As previously announced, Panalpina suspended part of its service offering in Nigeria in 2007.
For 2008, management estimates the overall financial impact of the adjusted service portfolio and its enhanced compliance efforts to negatively affect the group's Ebitda by between CHF60 and 80 million.
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