First quarter volumes grow y-o-y by 3% while profits jump 18% for same period.
The international freight forwarding and logistics company Panalpina reported ebit of Swiss Francs (CHF) 24.4 million (Q1/2017: CHF 16.4 million) and a consolidated profit of CHF 16.6 million (2017: CHF 12.4 million) in Q1/2018.
The ocean freight division’s Q1/2018 ebit dropped to minus CHF 5.8 million (Q1/2017: minus CHF 3.2 million). In contrast, the logistics sector grew its Q1/2018 gross profit by 2% to CHF 84 million (Q1/2017: CHF 82.5 million), and ebit reached CHF 3.4 million (Q1/2017: CHF 2.4 million).
Panalpina’s airfreight volumes rose by 3% in Q1/218. Compared to Q1/2017, gross profit per ton jumped by 19% to CHF 739 (Q1/2017: CHF 620), while overall gross profit increased to CHF 177.8 million (Q1/2017: CHF 144.7 million). Ebit in the airfreight sector climbed to CHF 26.9 million (Q1/2017: CHF 17.1 million).
CEO Stefan Karlen: “We had an encouraging start to 2018. Profitability per transported unit increased in both air and ocean freight, which still recorded a loss, though less than in Q4/2017. Logistics contributed to the good overall performance with a solid ebit result.”