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Panalpina has published its first integrated management report, summarizing the company’s activities during 2016 in terms of business performance as well as sustainability.
While Panalpina recorded the highest Air Freight volumes since 2007, gross profit margins in both Air and Ocean Freight came under pressure in 2016. This resulted in lower full-year earnings for the international freight forwarding and logistics company. Adjusted for restructuring expenses of CHF 28 million, EBIT reached CHF 109.9 million and consolidated profit CHF 80.2 million in 2016.
We kept focus on running the business, leading to very satisfactory results in all divisions.
Following last year’s UN Climate Talks in Paris and as part of a global effort to mitigate climate change, Panalpina has delivered on its promise and set science-based emissions targets for the coming years. Panalpina is now one of 32 international companies to have such targets that have been approved by the Science Based Targets initiative.
To further develop our commercial activities and customer relationships, we have appointed two new divisional Chief Commercial Officers (CCOs), in addition those already appointed for Solutions and Sub Saharan Africa.
For the fourth consecutive year, UNICEF and Panalpina have joined forces to fly relief goods to an African country where population movements, food insecurity, malnutrition and natural disasters have led to a health emergency and precarious humanitarian situation. In the morning hours, a Panalpina chartered cargo aircraft landed in Chad with more than 80 tons of life-saving goods on board.
DSV has come to an agreement with ZC Rubber Group Co. Ltd. and Pneuhage Company Group for the exclusive distributor rights to sell Westlake tyres in Denmark, Norway, Sweden and Finland.
Following the acquisition of UTi Worldwide, DSV Road has now been established in North America with two business units: DSV Road Inc. (handling brokerage and 3PL activities) and DSV Road Transport (handling carrier and asset based activities).
In the first nine months of 2016, Panalpina recorded a slight increase of EBIT and consolidated profit (adjusted for one-offs). EBIT reached CHF 93.6 million and the consolidated profit CHF 72.6 million. Against the backdrop of receding markets in air and ocean freight, volumes increased by 9% in Air Freight but decreased by 9% in Ocean Freight. Logistics continued positively on the EBIT level.
Panalpina and Cardiff Business School have strengthened their partnership with the launch of a new Logistics Manufacturing Research Centre. The center will conduct leading research into the fields of distributed manufacturing, 3D printing, the circular economy and the impact of digital manufacturing on global supply chains. The new center has already secured its first research grant.
With the acquisition of UTi, DSV gained substantial Solutions (Contract Logistics) activities in North America. As a result, we have now established a Solutions division in North America.
We are very pleased to announce that DSV Air & Sea in the USA have completed the office and IT integration of the former UTi Freight Forwarding division; and the divisions, DSV Road USA and DSV Solutions USA, have been added to our US organization – headed by President Jacques Retief and President Michael Marlow, respectively.
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