Damco Reports Positive 2012 Half Year Result
By Anuja Abraham
Damco – one of the world’s leading providers of freight forwarding and supply chain management solutions – continues to develop well. The global logistics company, which has reported significantly improved year-on-year results in 2010 and 2011, today announced continued good progress moving into the second half of 2012 despite tough conditions in the global freight markets.
Damco’s net revenue grew by 12% to 1,543 USD million compared to the same period last year. Gross profit is up 5% to USD 379 million. Damco´s EBIT for the first half of 2012 grew 42% to USD 51 million.
In the first half of 2012, Damco’s ocean freight volumes increased 9% compared with the same period in 2011, whilst airfreight tonnage growth was 135%. The latter includes the effects of the acquisition of the Chinese air freight forwarder NTS, but the underlying organic growth was still 42%. Damco’s supply chain management volumes increased 3% during the first half of 2012, driven by new recently secured accounts that started to ship with Damco in Q2.
“I am very pleased to see the continued above market, organic growth in our Air- and Oceanfreight business and we have also developed well on our Supply Chain Management volumes,” Damco CEO, Rolf Habben-Jansen said.
“It demonstrates that our customers find our services attractive and competitive,” Rolf Habben-Jansen added.