Damco reports continued growth for the first nine months of 2012

DAMCO12512 NovemberDamco, one of the world’s leading freight forwarding and logistics service providers, presents revenue growth of 11% in the first nine months of 2012, compared to the same period last year. YTD gross profit was up 4% to USD 591 million. YTD EBIT grew 6% to USD 76 million.
Damco significantly improved results from 2009 onwards and this continues into 2012, even if we are in difficult times for the world’s freight markets. So far this year, ocean freight volumes grew by 7%, airfreight volumes are up by 122% (incl. the effect of the NTS acquisition) and Supply Chain Management volumes increased with 5%. In Q3 Damco completed the acquisition of Pacific Global Networks which boosts its position in Australia and China-Hong Kong, and Damco also announced the relocation of the Headquarters from Copenhagen to The Hague in the Netherlands, which will take place in Q1 2013.
“We have in this period further strengthened the foundation of our business and our results underline that we are moving in the right direction,” Damco CEO, Rolf Habben-Jansen says. “We are satisfied with our Q3 results, as whilst the overall figures are impacted by one-off costs related to the acquisition of Pacific Network Global Logistics and the relocation of our HQ to The Hague (for which we took a 5 MUSD provision), our underlying trading was ahead of 2011 and in line with our plans”, Rolf Habben-Jansen added.
2012 Q3 and YTD key financial figures and volume
Net Revenue 2011 Q3 2011 Q3 2012 Q3 YTD 2011 Q3 YTD 2012 Change % Q3 2011/Q32012
Total (million USD) 2.752 784 849 2.156 2.392 11%
Gross profit 2011 Q3 2011 Q3 2012 Q3 YTD 2011 Q3 YTD 2012 Change %
Total (million USD) 757 207 212 568 591 4%
EBIT 2011 Q3 2011 Q3 2012 Q3 YTD 2011 Q3 YTD 2012 Change %
Total (million USD) 97 35 25 72 76 6%
Volume 2011 Q3 2011 Q3 2012 Q3 YTD 2011 Q3 YTD 2012 Change %
Ocean (TEU) 750,000 196,000 206,700 554,800 596,100 7%
Air  incl. NTS (tonnes) 110,000 31,000 64,300 67,500 150,000 122%
SCM (000 CBM) 47,000 13,400 14,500 35,300 37,100 5%
Further information
Claus Fonnesbech, Global Media Relations Manager, Damco
About Damco
Damco is one of the world’s leading third party logistics providers specialising in customised freight forwarding and supply chain solutions. The company has 10,800 employees in over 300 offices across 90 countries and representation in a further 30 countries. In 2011, the company had a net turnover of USD 2.8 billion, managed more than 2.5 million TEU of ocean freight and supply chain management volumes and air freighted more than 110,000 tonnes. Damco is part of the A.P. Moller – Maersk Group. www.damco.com
SOURCE: Submitted by Damco

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