Sunday 23rd Oct 2016 - Logistics Manager

Panalpina sets out growth plans

Panalpina is targeting China, India and Brazil to drive growth in the future after a year in which it saw sales rise by 20 per cent.

Gross profit rose 7.5 per cent at Panalpina last year to CHF 1.48bn (£983m) while sales were up 20 per cent to CHF 7.2bn (£4.8bn).

However, non-recurring charges meant that it made a consolidated loss of CHF 26m (£17m) for the year.

Chief executive Monika Ribar said: “We succeeded in taking full advantage of strong global economic growth, raising our core activity business volumes at rates that outperformed market averages. With our gains in market share and robust growth in the adjusted margins, we have solidified our position in the industry.

“The various measures initiated at the start of the year have clearly come to fruition, and the completion of investigations by the US Department of Justice is a relief for the organisation.”

 Growth in the air freight market reached 19 per cent, and ocean freight rose by 11 per cent.

“While these developments were driven primarily by China and other emerging-market economies, North America and Europe also rebuilt momentum.”

Looking ahead Ribar said: “We anticipate single digit market growth for both air and ocean freight this year, and seek to win further shares of the market. To this end, we will further expand our global sales organisation and continue to invest in growth markets such as China, India and Brazil, as well as in selected industries.”