Although global freight forwarder and logistics company Panalpina suffered a drop in revenue, from $6.73 billion to US$5.88 billion in 2015, the Swiss company\u2019s EBIT moved edged up from $117.1 billion to $117.6 billion at the close of last year, while net profit rose slightly to $88.5 billion from $86.79 billion in 2014.
\nThese results are not bad, considering Panalpina relies hard on its business serving the oil industry. \u201cWe have maintained profitability in a year that was characterized by a soft market, the low oil price, negative currency impacts and high IT investments on our end,\u201d said Peter Ulber, Panalpina\u2019s CEO. \u201cThe results prove our resilience in more difficult times. Excluding currency effects, EBIT even increased 15 percent.\u201d
\nThe company\u2019s airfreight volumes decreased 2.5 percent last year in a market that is estimated to have contracted by 1 percent. Not only oil and gas, but the automotive industry created lower cargo volumes for Panalpina. The company transported 836,200 tonnes of air cargo last year, slightly less than the 857,800 tonnes transported in 2014.
\nAccording to The Wall Street Journal, Ulber doesn\u2019t expect significant growth or momentum coming from the market, especially in the first two quarters of 2016. Ulber predicted that the global airfreight market will grow 1 to 2 percent this year over 2015. \u201cWe have maintained profitability in a year that was characterized by a soft market, the low oil price, negative currency impacts and high IT investments,\u201d Ulber said.
\nUlber said the focus will be on implementing Panalpina\u2019s new IT system, and that he had no interest in engaging in any acquisitions right now. \u201cIt is true that Panalpina will choose not to participate in consolidation among larger players,\u201d he said. \u201cWe think it is much more important to get our new technology environment in place rather than getting involved in a complex acquisition.\u201d
\nSource: aircargoworld<\/p>\n","protected":false},"excerpt":{"rendered":"
Although global freight forwarder and logistics company Panalpina suffered a drop in revenue, from $6.73 billion to US$5.88 billion in 2015, the Swiss company\u2019s EBIT moved edged up from $117.1 billion to $117.6 billion at the close of last year, while net profit rose slightly to $88.5 billion from $86.79 billion in 2014. These results[…]<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[49],"class_list":["post-1189","post","type-post","status-publish","format-standard","hentry","category-news","tag-airport-code"],"_links":{"self":[{"href":"https:\/\/www.actlogistics.vn\/vn\/wp-json\/wp\/v2\/posts\/1189","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.actlogistics.vn\/vn\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.actlogistics.vn\/vn\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.actlogistics.vn\/vn\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.actlogistics.vn\/vn\/wp-json\/wp\/v2\/comments?post=1189"}],"version-history":[{"count":0,"href":"https:\/\/www.actlogistics.vn\/vn\/wp-json\/wp\/v2\/posts\/1189\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.actlogistics.vn\/vn\/wp-json\/wp\/v2\/media?parent=1189"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.actlogistics.vn\/vn\/wp-json\/wp\/v2\/categories?post=1189"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.actlogistics.vn\/vn\/wp-json\/wp\/v2\/tags?post=1189"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}